{"id":26963,"date":"2025-05-01T17:13:51","date_gmt":"2025-05-01T17:13:51","guid":{"rendered":"http:\/\/medexperts.pro\/?p=26963"},"modified":"2025-05-01T17:24:32","modified_gmt":"2025-05-01T17:24:32","slug":"at-a-dubai-conference-trumps-conflicts-take-center-stage","status":"publish","type":"post","link":"https:\/\/medexperts.pro\/?p=26963","title":{"rendered":"At a Dubai Conference, Trump\u2019s Conflicts Take Center Stage"},"content":{"rendered":"
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A deal for a state-backed Emirati firm to use a Trump-affiliated digital coin was announced in a panel that included the president\u2019s son and his business partner, who promised, \u201cThis is only the beginning.\u201d<\/p>\n

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Sitting in front of a packed auditorium in Dubai, a founder of the Trump family cryptocurrency business made a brief but monumental announcement on Thursday. A fund backed by Abu Dhabi, he said, would be making a $2 billion business deal using the Trump firm\u2019s digital coins.<\/p>\n

That transaction would be a major contribution by a foreign government to President Trump\u2019s private venture \u2014 one that stands to generate hundreds of millions of dollars for the Trump family. And it is a public and vivid illustration of the ethical conflicts swirling around Mr. Trump\u2019s crypto<\/a> firm, which has blurred the boundary between business and government.<\/p>\n

Zach Witkoff, a founder of the Trump family crypto firm, World Liberty Financial, revealed that a so-called stablecoin<\/a> developed by the firm, would be used to complete the transaction between the state-backed Emirati investment firm MGX and Binance, the largest crypto exchange in the world.<\/p>\n

Virtually every detail of Mr. Witkoff\u2019s announcement, made during a conference panel with Mr. Trump\u2019s second-eldest son, contained a conflict of interest.<\/p>\n<\/div>\n<\/div>\n

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MGX\u2019s use of the World Liberty stablecoin, USD1, brings a Trump family company into business with a venture firm backed by a foreign government. The deal creates a formal link between World Liberty and Binance \u2014 a company that has been under U.S. government oversight since 2023, when it admitted to violating federal money-laundering laws.<\/p>\n

And the splashy announcement served as an advertisement to crypto investors worldwide about the potential for forming a partnership with a company tied to President Trump, who is listed as World Liberty\u2019s chief crypto advocate.<\/p>\n

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A deal for a state-backed Emirati firm to use a Trump-affiliated digital coin was announced in a panel that included the president\u2019s son and his business partner, who promised, \u201cThis is only the beginning.\u201dSitting in front of a packed auditorium in Dubai, a founder of the Trump family cryptocurrency business made a brief but monumental announcement on Thursday. A fund backed by Abu Dhabi, he said, would be making a $2 billion business deal using the Trump firm\u2019s digital coins.That transaction would be a major contribution by a foreign government to President Trump\u2019s private venture \u2014 one that stands to generate hundreds of millions of dollars for the Trump family. And it is a public and vivid illustration of the ethical conflicts swirling around Mr. Trump\u2019s crypto firm, which has blurred the boundary between business and government.Zach Witkoff, a founder of the Trump family crypto firm, World Liberty Financial, revealed that a so-called stablecoin developed by the firm, would be used to complete the transaction between the state-backed Emirati investment firm MGX and Binance, the largest crypto exchange in the world.Virtually every detail of Mr. Witkoff\u2019s announcement, made during a conference panel with Mr. Trump\u2019s second-eldest son, contained a conflict of interest.MGX\u2019s use of the World Liberty stablecoin, USD1, brings a Trump family company into business with a venture firm backed by a foreign government. The deal creates a formal link between World Liberty and Binance \u2014 a company that has been under U.S. government oversight since 2023, when it admitted to violating federal money-laundering laws.And the splashy announcement served as an advertisement to crypto investors worldwide about the potential for forming a partnership with a company tied to President Trump, who is listed as World Liberty\u2019s chief crypto advocate.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and\u00a0log into\u00a0your Times account, or\u00a0subscribe\u00a0for all of The Times.Thank you for your patience while we verify access.Already a subscriber?\u00a0Log in.Want all of The Times?\u00a0Subscribe.<\/p>\n","protected":false},"author":1,"featured_media":26965,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-26963","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/26963","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26963"}],"version-history":[{"count":2,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/26963\/revisions"}],"predecessor-version":[{"id":26966,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/26963\/revisions\/26966"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/media\/26965"}],"wp:attachment":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26963"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26963"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26963"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}