A Friday report from Bloomberg suggested closer ties between US President Donald Trump's family-backed crypto business and one of the largest digital asset exchanges.
Cryptocurrency exchange Binance reportedly helped create the code behind the stablecoin issued by World Liberty Financial (WLF), one of the crypto businesses tied to US President Donald Trump.
According to a Friday Bloomberg report citing three people familiar with the matter, Binance helped create, promote, and played a role in the largest transaction of WLF’s USD1 stablecoin. The crypto business, backed by Trump and his three sons, launched USD1 on March 4.
An Abu Dhabi-based investment firm, MGX, announced a $2-billion investment in Binance on March 12 using a then-unnamed stablecoin. Eric Trump, one of WLF’s co-founders, said in May that the company would be using USD1 to settle the investment.
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