00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Finance CEO Richard Tang rejected claims that the exchange boosted a Trump-backed stable
00:07coin before the presidential partner of former CEO Shane Peng Dao, according to CNBC.
00:12Tang said a $2 billion investment from Abu Dhabi's MGX settled using USD1, a stable
00:17coin created by Trump's World Liberty Financial. It was MGX's decision, not Binance's. He
00:22denied giving USD1 preferential treatment, noting it was already listed elsewhere.
00:26Wall Street Journal reported that Binance helped settle MGX's investment using USD1 and
00:31assisted in developing the stable coin's technology. It also said World Liberty Financial benefited
00:35from USD1's listing on Binance and its partnership with PancakeSwap, a platform linked to Binance.
00:41World Liberty Financial's website says DT Mark's DeFi LLC and members of the Trump family
00:46receive major revenue shares in old WLFI tokens, generating massive profits. It adds that Trump,
00:52his family, and their firms are not officers, directors, or operators of the company or its
00:57affiliates. For all things money, visit Benzinga.com.
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