Trump collects billions: Crypto deal triggers corruption scandal!

Trump collects billions: Crypto deal triggers corruption scandal!

Amid controversy and growing opposition, Donald Trump, during his second term as US President, plans to use his own cryptocurrency, USD1, through his company World Liberty Financial (WLFI). This initiative not only has the potential to revolutionize the world of finance, but also raises serious questions about corruption and political access. Loud Picture On March 12, 2025, Abu Dhabi state investment firm MGX invested $2 billion in the Binance crypto exchange, using USD1 as payment.

USD1 is a digital asset classified as a stablecoin, backed by US treasuries and dollars, which ensures its value stability. This financial transaction allows Trump to not only generate billions for future investments, but also to collect interest as MGX funnels capital through his company. The Trump family, including Donald Trump and his sons, is set to receive 75 percent of WLFI's profits.

Criticism and allegations of corruption

The regulations surrounding cryptocurrencies and stablecoins are the focus of the political debate due to Trump's business. After MGX's investment plans became known, the GENIUS law, which was intended to regulate stablecoins, failed in the US Senate. Senator Elizabeth Warren called the incident the “biggest corruption scandal in modern history,” which caused a stir in Washington. A new proposal also stipulates that presidents and their families are no longer allowed to issue or promote cryptocurrencies.

The criticism is further fueled by Trump's creation of a memecoin, $TRUMP, of which he owns 80 percent. Buyers of this digital currency gain access to exclusive events with Trump, reinforcing accusations of a possible connection between money and political access.

International ambitions and strategic discussions

Trump plans to travel to Saudi Arabia, Qatar and the United Arab Emirates (UAE) to negotiate new arms deals, semiconductor exports and AI partnerships. This could strengthen its international ties and further boost its crypto businesses. It has been reported that the Emirati AI sovereign wealth fund plans to use USD1 for investments, which could expand Trump's influence in the international financial sector.

The circumstances surrounding the deal raise questions, particularly in light of the legal challenges currently facing Binance founder Changpeng Zhao. Zhao is trying to secure a reprieve from the Trump administration, which could point to deeper connections between the crypto market and politics.

The situation is complex and shows the tension between innovative financial solutions and the need to create clear regulatory frameworks. Trump's crypto dealings have undoubtedly sparked the discussion around cryptocurrencies and their influence on politics, such as n-tv reported.