Binance CEO Denies Role in Trump-Linked Stablecoin Choice for $2 Billion MGX Deal

Overview

• Richard Teng said MGX independently chose the USD1 stablecoin for the $2 billion investment and that Binance listed the token after other exchanges.
• USD1 is issued by World Liberty Financial, a company co‑founded by Eric Trump, and the setup allows the Trump business to profit from the transaction.
• Teng stated Binance was not involved in developing USD1’s code, rejecting claims that the exchange provided technical support for the stablecoin.
• A July Bloomberg report alleging Binance helped build USD1 remains disputed, with CZ denying the account and threatening legal action.
• The White House said CZ’s October 23 pardon underwent DOJ and counsel review, while Trump told 60 Minutes he does not know CZ personally.