Changpeng Zhao, the founder of Binance, denied reports that Trumpp has invested $2 billion into the company. Reports stated that the memecoin had a hand in a big MGX and Binance Abu Dhabi deal. However, Binance founder Changpeng ‘CZ’ Zhao has dismissed the allegations made against the exchange. As he said, the transaction was done with USD1 stablecoin and not linked to TRUMP in any way.

CZ Responds to TRUMP Token Rumors in $2B MGX Investment

Binance founder Changpeng Zhao has denied recent reports claiming the TRUMP token was used in a $2 billion investment by MGX. The deal involved Binance’s Abu Dhabi unit and was processed through the USD1 stablecoin. CZ clarified that the TRUMP coin was not used in any part of the transaction.

Typical example of FUD: the question 👇 is wrong, vague and misleading.

If the question was referring to the MGX $2 billion investment in Binance, the transaction was done using the $USD1 stablecoin.

It had nothing to do with the $Trump digital coin, which is a memecoin.… https://t.co/o7wyURWOzy

— CZ 🔶 BNB (@cz_binance) May 15, 2025

According to Zhao, the investment was made by a private investor. He stated that Binance allows various currencies for payment, such as Bitcoin, AED, USD, or USD1. After receiving the funds, the exchange may convert them depending on liquidity and market conditions. Binance’s deep liquidity supports such high-value transactions securely and efficiently.

TRUMP Token Not Involved in MGX Deal, Says CZ

In a public post on X, CZ confirmed the MGX investment was unrelated to the TRUMP token. He explained that some outlets misreported the facts, creating confusion about the transaction. “The payer can choose the currency. The receiver may convert later. It’s standard,” CZ wrote.

He added that the flexibility of Binance’s platform makes large payments possible in multiple currencies. Zhao emphasized that the mention of the TRUMP token in this context was inaccurate and unrelated to any business decision. Binance routinely supports major financial transactions with a wide range of payment options.

Binance’s Use of USD1 and Questions Around World Liberty Financial

World Liberty Financial, a company with reported ties to the Trump family, issued the USD1 stablecoin used in the MGX investment. After reports that Binance may have considered a deal with Trump supporters, many are questioning this link. At the same time, CZ has always denied taking part in dealing political favors or initiating any political negotiations.

By early 2024, Democratic Senators Elizabeth Warren and Chris Van Hollen urged the U.S. agencies to investigate Binance’s relationship with the Trump family. The goal was to clarify any connection between the exchange and political actors. Zhao dismissed those allegations and said Binance follows standard global practices in handling digital assets.

Despite scrutiny, Zhao stated that USD1 is simply one of several currencies used on the platform. Binance maintains that the transaction involving MGX was conducted in compliance with legal and operational standards, without political influence or connection to the TRUMP memecoin.