Trump’s cryptocurrency sees 70% value jump after VIP dinner offer
The value of Trump meme coins has increased significantly as they prepare to host two special events for top investors. Crypto Trading Platform Coinbase has revealed that “$Trump” has skyrocketed after the announcement that its largest owners of 220 will be invited to a private gala dinner on May 22nd.
No Brands – News Value
The stupidity launched by Donald Trump’s World Liberty Financial Crypto Venture is being used by the Abu Dhabi investment company for a $2 billion investment in Crypto Exchange Binance, one of the co-founders of the world’s Liberty co-founders said on May 1.
This is the latest in the Trump family’s series of crypto-related ventures, including “Memecoin,” which has attracted criticism from government ethics experts and political opponents of potential conflicts of interest.
World Liberty, which aims to make people accessible to financial services without intermediaries like banks, said it will launch USD1 in March.
At a crypto conference held in Dubai, World Freedom co-founder Zach Witkov said USD1 will be used to shut down Abu Dhabi-based MGX’s $2 billion investment to Binance, the world’s largest crypto exchange.
“We look forward to announce that USD1 has been selected as the official stubcoin to shut down MGX’s $2 billion investment in vinance,” said Witkov, son of Steve Witkov, the son of Trump’s special envoy in the Middle East.
Democrat Sen. Elizabeth Warren has been sharply criticizing the venture before the Republican-controlled Senate, pending US laws on US legislation.
Warren, a member of the US Senate Banking Committee, said: “The Senate, meanwhile, is preparing to pass the “genius” law that makes it easier for the president and his family to line up in their own pockets. This is corruption and the senators should not support it. ”
The White House and World Liberty Financial did not immediately respond to requests for comment.
The use of USD1 in this transaction highlights the influence and connection of the growing global freedom in the global crypto industry. USD1 is issued on Binance’s blockchain.
Stablecoins are an increasingly advantageous cog in global crypto trading. Their issuers usually benefit from earning interest from the Treasury Department and other assets that support them.
USD1 in circulation reached around $2.1 billion on Wednesday, making it one of the fastest growing, silly idiotic, according to CoinmarketCap data. However, the identities of the major holders remain unknown.
An anonymous cryptocurrency wallet, which holds $2 billion worth of USD1, received funds between April 16th and 29 years, according to data from crypto investigator Arkham. Reuters could not confirm the owner of the wallet.
According to a photo posted on social media site X on Sunday, Changpeng Zhao, founder and former CEO of Vinance, met two other World Freedom co-founders, Zach Witkoff and Abu Dhabi, after admitting to the US last year that he violated US law.
“I’m glad to meet our friend,” said Abu Dhabi’s photo, posting Zhao in response to a photo tagged with Witkov.
Zhao, who resigned from his role at Binance in 2023 as part of a $4.3 billion settlement with the US over illegal fiscal fees, remains a major shareholder in Binance.
Tron Blockchain Integration
Separately, Zach Witkoff has announced that USD1 will be integrated into Tron, the blockchain of Hong Kong-based Crypto entrepreneur Justin Sun.
According to a social media post, Sun is the biggest investor in world freedom and a venture advisor, and has poured at least $75 million into the project.
Sun was fighting a US securities fraud lawsuit during his first investment in world freedom. In February, the Securities and Exchange Commission suspended the lawsuit against him, citing public interest.
The Sun eased the panel Witkov spoke on Thursday, and Trump’s son Eric Trump also took to the stage.
Promising to become “crypto president,” the president has pledged to overhaul federal rules on crypto.
Trump handed over his assets to his children before returning to the White House, and he would not play a role in daily decision-making, his company said.