USD1 stablecoin picked to settle MGX’s investment into Binance

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03.06.2024

USD1 — a stablecoin launched by World Liberty Financial — was reported as the settlement asset for a $2 billion MGX investment into Binance. The token was presented as a dollar-pegged stablecoin backed by liquid reserves (including short-term Treasuries). The announcement drew attention to how quickly stablecoins are moving into large, high-profile transactions, and it reignited debate around governance, transparency, and potential conflicts of interest when policy and crypto business intersect.
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