Bitcoin Breaks $96K After Eric Trump Announces a $2 Billion Transaction
Cryptocurrencies continue to rally on a wave of positive news. Bitcoin breaks through 96,000 USD, gaining over 2.00%, following reports that World Liberty Financial’s stablecoin USD1 will be used to finalize an investment into Binance. The transaction is valued at $2 billion and involves MGX, a company based in Abu Dhabi.
Eric Trump announced during the Token2049 event in Dubai that USD1, backed by short-term U.S. Treasury bills, will serve as the official settlement medium for the transaction. The stablecoin will also be integrated into the Tron ecosystem, supported by crypto billionaire Justin Sun, further strengthening its position in both DeFi and CeFi markets.
The investment process involves MGX transferring its $2 billion commitment to Binance via the USD1 stablecoin, deepening cooperation between the UAE and the global crypto exchange. The Trump-affiliated company, World Liberty Financial, aims to position USD1 as a transparent, regulated, and borderless digital dollar. Co-founder Zach Witkoff highlighted upcoming integrations with DeFi and retail applications, signaling USD1’s ambition to dominate the stablecoin utility segment.
Source: xStation 5
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