Bought and Paid For
A $2B Foreign Crypto Deal That Enriched the Trump Family!
A Foreign Deal That Enriched the Trump Family
At TOKEN2049 in Dubai, on May 1, 2025, a bombshell dropped: MGX, the Abu Dhabi state‑owned AI investment firm, would seal a $2 billion transaction with Binance, and they would do it in USD1, the stablecoin stamped by. On stage, Zach Witkoff (co‑founder of the firm) and Eric Trump announced that USD1 had been officially selected to complete the deal.
What most Americans don’t know is that World Liberty Financial is 60 % owned by a Trump‑family entity, entitled to about 75 % of net revenue from USD1’s usage. That makes this more than a crypto play, it’s a conduit for enormous wealth flowing back to Trump‑affiliated interests.
USD1 launched in March 2025, meticulously backed by U.S. Treasuries and cash equivalents. By late April–early May, it surged to a market capitalization of $2.1–2.2 billion, placing it firmly among the top‑five U.S. dollar‑pegged stablecoins globally.
Witkoff made it clear: USD1 wasn't just part of the deal, it was the official means of payment. This marked an unprecedented moment: an Emirati government‑backed investment converting funds into a stablecoin tightly controlled by the Trump family. The implication is unmistakable: millions (or tens of millions) in yield flowing directly into Trump‑ affiliated coffers via a digital currency.
A Conflict That Undermines Democracy
Trump remained President while his family’s private venture reaped massive gains from this foreign transaction. This created a direct pipeline: Abu Dhabi’s MGX buys USD1 tokens, those tokens land with World Liberty Financial, profit flows to the Trump family. No firewall, no separation.
Senators Elizabeth Warren and Jeff Merkley sent letters demanding MGX and Binance preserve communications, stating that a foreign government‑backed entity and a corporation that admitted to anti‑money‑laundering and sanctions violations were effectively cutting the Trump and Witkoff families into the deal to the tune of hundreds of millions of dollars.
This isn’t hypothetical. What happened eroded public trust and sent a signal that policy access can be purchased.
What Congress Should Have Done
A functioning oversight body would have moved with urgency. These steps should have been immediate.
Open congressional investigations into World Liberty Financial, MGX and Binance to trace ownership structures, revenue splits, and token flows;
Subpoena executives from WLF, MGX and Binance to testify under oath about decision‑making and communications with Trump family entities;
Audit asset disclosure forms, trust filings, profit allocations to confirm Trump family control of revenue;
Hold televised hearings exposing foreign investment surfacing as private enrichment while a sitting president presided over policy;
Refer findings to ethics committees or the Department of Justice for conflict of interest or fraud review.
Instead Senate Republicans slashed and passed the Senate “GENIUS Act” crypto regulation. It was a complete joke.
Senator Elizabeth Warren and other critics didn’t hold back. They warned that the GENIUS Act ignored glaring conflict-of-interest concerns tied to President Trump’s crypto ventures. The bill was riddled with loopholes, lacked real protections for consumers and national security, and conveniently left out the President’s family, despite Trump’s WLF and USD1 sitting at the center of the controversy.
When it came time to add amendments that would have closed those gaps, like banning crypto dealings by sitting presidents and their relatives, they were either blocked or quietly scrapped. The message was loud and clear: this bill was built without real oversight, especially when it came to Trump’s own financial empire.
National Security Risk Seems Obvious
When a foreign state‑owned fund injects $2 billion through a digital token directly linked to the President’s family that state gains leverage. If another foreign power repeats the same model the President has already proven willing to allow it. That becomes a blueprint for influence.
The lack of oversight, the muted congressional response and rapid regulatory rollback under this administration combine to create a national security blindspot. MGX sits at the nexus of AI investment and state influence; their board chaired by Sheikh Tahnoun bin Zayed Al Nahyan means geopolitical ambition meets direct financial ties to the Oval Office.
Why You Should Feel Alarmed
You might not use USD1. You might not invest in Binance. You might not care about crypto. This deal still matters to you. The presidency has been treated as a personal business vehicle.
Foreign cash sweeps in. Profits go to private family accounts. Your future policy direction your national diplomacy your economic stability risk bending to whoever pays. If you let this pass you validate the story that American public servant office is for sale.
What You and Other Americans Can Do
Tell this story to neighbors friends colleagues. Point out that a foreign government effectively bought access to the presidency through crypto tokens issued by a private company majority owned by the First Family. Demand Congress hold hearings. Press local media outlets to investigate. Vote in ways that reward accountability not loyalty to loyalty. This is not about wallet sizes. It is about who pays for access to power.
The Moment Requires You
Every day there are more deals more tokens more headlines. This was only during the first few months of Trump’s second four-year term. What else might unfold before the end of year one?
People must refuse silence. Citizens must insist on transparency and responsibility. Speak openly about what you know. Encourage others to do the same. Demand truth. Share. Comment. Hold power accountable. You can and must be the voice that breaks through.
Mitch Jackson, Esq. | links
Related:
The Crypto Con: How Trump Is Looting America from the Oval Office
Trump’s $2 Billion May 1st Crypto Deal Is a Scandal and National Security Threat