Trump Family Crypto Deal Sparks Global Ethics Debate at Dubai Conference

DUBAI, UAE — In a bold and controversial announcement, the Trump family’s cryptocurrency firm, World Liberty Financial, revealed at the Token2049 conference that a $2 billion deal with state-backed Emirati fund MGX will be completed using its Trump-affiliated stablecoin, USD1.

The announcement was made during a high-profile panel featuring Eric Trump and Zach Witkoff, who declared, “This is only the beginning.” The deal formally links Trump’s crypto venture with Binance, the world’s largest crypto exchange — a company under U.S. regulatory scrutiny for past violations of money-laundering laws.

The partnership raises unprecedented ethical concerns, blurring lines between private business interests and public office as Donald Trump prepares a state visit to the Middle East, including stops in Saudi Arabia, Qatar, and the UAE.

Key Points:

USD1, the Trump-backed stablecoin, will facilitate the $2B MGX-Binance transaction.

MGX is led by Sheikh Tahnoon, UAE’s national security adviser.

Binance’s founder is seeking a pardon from the Trump administration.

World Liberty has already raised $550M through the sale of $WLFI tokens.

The firm now has access to billions in investable deposits, potentially generating tens of millions in revenue for the Trump family.

Critics point to conflicts of interest, especially with foreign investors tied to governments and executives under U.S. investigation — some of whom are barred from political contributions.

Despite the concerns, Trump’s team is full steam ahead. Eric Trump teased future use of USD1 at Trump-branded hotels across the Middle East:

“You’re not going to be walking into the Four Seasons using USD1… You’re going to be walking into the Trump International Hotel and Tower.”