EPA / Samuel Core / Pool
An investment of $ 2 billion (about $ 1.77 billion) from a sovereign fund of the United Arab Emirates is launching corruption suspicions involving Donald Trump.
MGX, a Sovereign Fund of the United Arab Emirates (UAU), will invest about 1.77 billion euros in the cryptocurrency stock exchange Cryptocurrency USD1which is managed by the World Liberty Financial (WLF).
This cryptocurrency is what is called a stablecoina type of cryptocurrency projected to have a stable value, which is usually linked to an active such as the dollar, or the euro, the gold, or even other cryptocurrencies.
It is not abnormal for a state to invest in cryptocurrencies through sovereign funds. What is anomalous in this case is what seems to be a evident conflict of interestas evidenced by the newspaper.
A Trump’s family is directly benefited For the investment made by the EAU, which will yield tens of millions of euros to WLF.
In addition, MGX also integrates the Great Plan for the Development of Artificial Intelligence (IA) that was announced by Donald Trump last January.
“It looks like corruption, smells of corruption”
The news about MGX’s investment has already motivated criticism of elements of the US Democratic Party, namely Senadora Elizabeth Warren who speaks even about “Donald Trump’s corruption” in a publication on social network X, the old Twitter.
“The US is preparing to Blessing Donald Trump’s latest fraud“, Says the senator, speaking of a“ dark ”investor and noticing that the business between Binance and MGX will give Trump’s family“ a slice ”of the millions.
“It looks like corruption, smells of corruption”says Elizabeth Warren.
The senator also regrets that the Senate is preparing to “give green light to fraud” When you have a bill that plans to widely disgust the stablecoins.
Warren notes that this project will “make Trump and family easier to profit from their own cryptocurrency, and emphasize that approving the law will allow any foreign country “Flame Factors” Next to the US President, “paying him” with his stablecoin.
“Donald Trump promised to lower the cost of living to the American people, instead, to perform frauds to make more money for oneself And it is waging the economy and making life more expensive for everyone else, ”concludes the senator.
Donald Trump’s latest corruption?
A $2 BILLION stablecoin deal with a foreign crypto company that will benefit the Trump family business.
And it gets worse — the Senate is getting ready to bless this kind of grift.
But it’s not too late to make changes.
Here’s the latest:
— Elizabeth Warren (@SenWarren)
The MGX investment announcement was made during a conference on Dubai by the WLF co-founder, Zach Witkoffthe son of the US special envoy to the Middle East, Steve Witkoff, and for, one of the children of the US President, who also plays an important role in the family cryptocurrency company.
Was also present at the conference, one of WLF’s largest investors, the Billionaire Justin Sunresponsible for the Tron Exchange Platform, which was recently investigated by Suspected price manipulation of your cryptocurrency.
After Trump’s election, the case resolved with an agreement outside the court.
Binance, the world’s largest cryptocurrency negotiation platform, reached an agreement with US courts in 2023, to close an investigation into suspicions of violation of the rules of Capital bleaching prevention.
