$2B Binance investment via MGX
MGX, a UAE government-backed company run by Tahnoon, made a $2 billion investment in Binance using World Liberty's USD1 stablecoin.
Where this was said
The MGX-Binance Transaction: A Self-Endorsement in Disguise
At 11:56 · chapter starts 11:55
The layers of the Tahnoon-World Liberty relationship deepened further. Tahnoon also controls MGX, a UAE government-backed company that made a $2 billion investment in Binance using World Liberty's USD1 stablecoin — a transaction that earned World Liberty $80 million in annual income and dramatically legitimized both the stablecoin and the company in the crypto world. But when the deal was announced, it wasn't public knowledge that MGX and World Liberty shared a common part-owner in Tahnoon. World Liberty — including Zach Witkoff onstage — presented the MGX investment as an enormous outside vote of confidence. Rebecca Ballhaus calls this 'pretty shocking': a company using its own hidden co-owner's investment as a public endorsement. Rebecca also articulates the overarching risk: once a president's company is intertwined with a foreign government, every subsequent diplomatic interaction becomes suspect.
$80M annual income for World Liberty
The MGX-Binance transaction allowed World Liberty Financial to pocket $80 million in income annually.
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