MGX, an Abu Dhabi investment company focused on crypto and AI announced it would use a brand new stablecoin from Trump's World Liberty Financial to take a $2 billion stake in Binance.
This isn't World Liberty's first international foray, but it is is largest.
MGX was formed by Mubadala Investment, a United Arab Emirates sovereign wealth fund, and G42, am artificial intelligence company. Mubadala once held an equity stake in The Carlyle Group, a politically connected private equity underwriter (PEU).
Carlyle co-founder David Rubenstein's family office (Declaration Partners) holds a stake in Paxos, which has its own stablecoin and supplies Paypal's.
Paxos formed the Global Dollar Network last fall to futher the development and adoption of stablecoins. A natural fit would have been for Mubadal to use Paxos.
But like many global corporations MGX has ingratiated itself with Trump II, the digital Caligula.
Back to the Sons of Monarchy, the Trump, Witkoff and Lutnick boys. They have their hand in nearly everything that Trump II is pushing and the numbers being thrown in their direction are massive.
The Trump crypto steamroller is gaining momentum. I don't expect it to stop on its own, not with this many "amped up" drivers. The result may be a very large crash.
While only one deal, I'd hoped the PEU boys would stem the rabid spread of Trump's self serving and ceaseless greed. I find this particular insider shenanigan quite disturbing, as counterbalance is badly needed.
Update 5-2-25: The Sons are outright selling their influence, their political connections for princely sums. My wise friend wrote:
For all those that voted for this reptile, nice job. For all those that say Biden was a snake, maybe so, but this guy's an anaconda and now you can't control him , Only a fool couldn't see this coming. One stop laundromat.
As for not controlling him, the Senate failed to pass a measure to restrict Trump's emergency tariff authority. Would the legislative branch please find their backbone before Trump strips our democracy for parts?
