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1h ago

Eric Trump Rejects Conflict Claims Over UAE’s $2 Billion Binance Deal Using Family Stablecoin

His CNBC comments follow reporting that a UAE fund routed the investment through World Liberty’s USD1 stablecoin before U.S. officials later permitted the country access to advanced chips.

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Overview

  • Eric Trump dismissed suggestions of a conflict of interest, saying the family has not benefited from any linkage between their crypto ventures and U.S. policy decisions.
  • New York Times reporting detailed that MGX, a UAE investment firm, funneled roughly $2 billion into Binance in March using World Liberty Financial’s USD1 stablecoin.
  • Weeks after that transaction, the UAE was allowed to obtain hundreds of thousands of advanced AI chips, a sequence that raised ethical questions that the White House and World Liberty say are unfounded.
  • Market data cited in coverage shows USD1 supply has grown to about $2.7 billion, while WLFI exchange listings have created large on-paper gains for Trump-linked holders.
  • Eric Trump characterized the family as “serial capitalists” who turned to crypto after being “debanked,” as media scrutiny and calls for oversight continue.