Regulation· ★★★★· neutral·

Trump faces Abu Dhabi crypto lawsuit over $2B USD1 deal

  • —Suit filed October 22 against Trump, World Liberty, Steve Witkoff and WLF Holdco
  • —MGX, chaired by Sheikh Tahnoon, settled its Binance stake in World Liberty's USD1
  • —A Tahnoon-backed entity paid $500 million for 49% of World Liberty before the inauguration
  • —Greenberg holds about 10,000 Circle shares and sues without asking the board
Why it matters: The case tests whether a sitting president can hold stablecoin interests and could reshape competition between USD1 and USDC.
#USDC
Source: Coindoo
More on this
Exchanges · Oct 6
NYT Profile: CZ Details Binance's Role in FTX Collapse and $2B USD1 Deal
 Regulation · Oct 12
3iQ Receives In-Principal Approval for ADGM License in Abu Dhabi
 Regulation · Oct 8
Bhutan's DK Bank Gets ADGM In-Principle Approval for Abu Dhabi Expansion