Close Menu
    Trending
    • Bhutan Dumps Bitcoin? $173M Sent to Binance in Days
    • Grayscale Files Confidential IPO Paperwork with SEC
    • Avalanche Shatters Record With 20M Transactions
    • Coinbase Denies Bombshell Claim it Fueled Trump-Binance Hit Piece
    • Nasdaq Firm Raises $51.5M in 72 Hours for Bitcoin Treasury
    • Why No Major Dips Are Expected From Here
    • Bitcoin ETFs propel crypto inflows to new heights above $3.7B
    • 10,000,000 PUMP Tokens Mistakenly Deleted by User: The $75K Error
    Simon Crypto
    • Home
    • Crypto Market Trends
    • Bitcoin News
    • Crypto Mining
    • Cryptocurrency
    • Blockchain
    • More
      • Altcoins
      • Ethereum
    Simon Crypto
    Home»Cryptocurrency»World Liberty’s USD1 to Power $2B MGX Investment in Binance
    Cryptocurrency

    World Liberty’s USD1 to Power $2B MGX Investment in Binance

    Team_SimonCryptoBy Team_SimonCryptoMay 1, 2025No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Donald Trump’s World Liberty Monetary (WLFI) has introduced that its newly launched stablecoin, USD1, would be the settlement forex for a $2 billion funding by Abu Dhabi-based MGX into Binance.

    The revelation, made on the ongoing Token2049 convention in Dubai by WLFI co-founder Zach Witkoff, marks a significant milestone for the fledgling stablecoin, which has surged to a $2.1 billion valuation in document time regardless of its absence from main centralized crypto exchanges.

    A Fast Ascent for USD1

    Witkoff framed the partnership as a vote of confidence in USD1’s stability and utility. We thank MGX and Binance for his or her belief in us,” he mentioned.

    Eric Trump, additionally current on the Dubai occasion, famous that digital property like USD1 may “disintermediate monetary establishments” and cut back the reliance on untrusted governments or currencies. His rhetoric is consistent with that of his father, U.S. President Donald Trump’s pivot from crypto skeptic to self-styled champion of the business.

    Whereas MGX’s deal for a minority stake in Binance was first announced in March, the choice to make use of USD1 for settlement had been stored underneath wraps till now. The $2 billion deal was the most important funding settlement made with a crypto platform and the biggest to be paid out in stablecoin.

    USD1’s rise has been nothing in need of meteoric. Inside weeks of its launch, its market cap flashed previous the $1 billion mark, outpacing the early performances of extra established rivals like Tether’s USDT and Circle’s USDC.

    With 2,127,970,381 items circulating, the stablecoin now boasts a market cap of over $2.1 billion. Witkoff lately took to X to celebrate the milestone, with BitGo, USD1’s custody and infrastructure supplier, calling it “the quickest rise from 0 to $1B in stablecoin historical past.” The corporate has performed a significant function in USD1’s improvement, utilizing its Stablecoin-as-a-Service platform to help the asset’s speedy scaling.

    Initially deployed on Ethereum and Binance Good Chain (BSC), the stablecoin is about to increase to the Tron community, whose founder, Justin Solar, invested $75 million in WLFI earlier within the 12 months.

    Stablecoin Hierarchy Below Risk?

    The U.S. dollar-pegged coin’s explosive development comes amid intensifying competitors within the stablecoin sector, with some elevating eyebrows over its political associations and speedy adoption by institutional gamers like MGX.

    Nonetheless, its $2 billion valuation is way from USDT’s $149.3 billion, making up greater than 61% of the overall stablecoin market’s valuation. Beforehand, it was reported that USDT dominates Tron, boasting a 98.5% share of the community’s stablecoin provide, with the likes of USDD, TUSD, and USDC making up 1.15%, 0.26%, and 0.06%, respectively.

    Nevertheless, USD1 is but to be listed on main centralized exchanges like Binance and Coinbase, and observers count on such listings to increase its liquidity and probably reshape the stablecoin hierarchy dramatically.

    SPECIAL OFFER (Sponsored)

    Binance Free $600 (CryptoPotato Unique): Use this link to register a brand new account and obtain $600 unique welcome supply on Binance (full details).

    LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE place on any coin!



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Bhutan Dumps Bitcoin? $173M Sent to Binance in Days

    July 14, 2025

    Coinbase Denies Bombshell Claim it Fueled Trump-Binance Hit Piece

    July 14, 2025

    10,000,000 PUMP Tokens Mistakenly Deleted by User: The $75K Error

    July 14, 2025

    Is PI on the Brink? Pi Network Price Nears Crucial Support Zone

    July 14, 2025
    Add A Comment
    Leave A Reply Cancel Reply

    Categories
    • Altcoins
    • Bitcoin News
    • Blockchain
    • Crypto Market Trends
    • Crypto Mining
    • Cryptocurrency
    • Ethereum
    Archives
    • July 2025
    • June 2025
    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    Archives
    • July 2025
    • June 2025
    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    Top Posts

    Ethereum Whale Activity Fades Since Late February – Details

    April 6, 2025

    ad

    About us

    Welcome to SimonCrypto.in, your ultimate destination for everything crypto! Whether you’re a seasoned investor, a blockchain enthusiast, or just beginning your journey into the fascinating world of cryptocurrencies, we’re here to guide you every step of the way.

    At SimonCrypto.in, we are passionate about demystifying the complex world of digital currencies and blockchain technology. Our mission is to provide insightful, accurate, and up-to-date information to empower our readers to make informed decisions in the ever-evolving crypto space.

    Top Insights

    Ethereum Community Foundation Launches With $10K ETH Mandate

    July 3, 2025

    Bitcoin HODLer Selloff Extends To 1.1 Million BTC As Profit-Taking Continues

    January 31, 2025

    Why Is Pi Network’s Price Up Today?

    May 8, 2025
    Categories
    • Altcoins
    • Bitcoin News
    • Blockchain
    • Crypto Market Trends
    • Crypto Mining
    • Cryptocurrency
    • Ethereum
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • About us
    • Contact us
    Copyright © 2024 SimonCrypto All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.