While the Trump family encrypting the jacket is gained, moral fears are mountain

As a leader to The world is financial freedomAnd a Chefer company owned by part of US President Donald Trump and his family, all over the world, to try to win new business, critics have caused a warning about a group of conflicting alleged interests in their wake.

On Thursday, Eric Trump appeared on the stage in Dubai at the Crypto Tokeen2049 conference. Next to his side, Zakari Witkeov, founder of World Liberty Financial and the son of the White House envoy to the Middle East, sat Steve Whitkov.

Together, the husband announced that USD1, a cour currency The unveiling of the world is the financial freedom In March, MGX, an investment company funded by the United Arab Emirates, will be used to invest $ 2 billion in BinanceThe largest exchange of encryption in the world.

As a type of mediator in the deal, World Liberty Financial stands to earn tens of millions of dollars. “We thank MGX and Binance for their confidence in us,” said Witkoff for the crowd at Tokeen2049, New York Times I mentioned. “It is only the beginning.”

Usd1 is what is known in industrial circles as Stablecoin, a type of encryption associated with one dollar assessment by cash reserves and other assets. Stablecoin holds a steady evaluation by understanding that, if someone wants to recover a currency for the dollar he represents, the source can extract it from the reserve.

The model is simple: World Liberty Financial US dollars are received for the metal currencies that customers can circulate freely in the encryption market. It retains some of these dollars in cash and cash rewards, and the rest is invested in the US government’s bonds-as the treasury-which gives benefit.

The profits of Stablecoin exporters are partially dependent on the continuous interest rate-now, and the treasury weight in the short term Ask a little more than 4 percent– But otherwise, the expansion in a written way with the show. The higher the size of Stablecoin in the circulation, the basic reserve of the origins from which the source can generate income.

Therefore, the deal between MGX and Binance, which will increase the width of 1 USD1 by up to two billion units, is very profitable for World Liberty Finance – and thus Trump and his family. If the company will invest two billion dollars in a short -term US cabinet, it will get approximately $ 85 million in interest every year at the current market prices.

However, the deal has canceled concerns about the possibility that the scientist will be the financial ink, which is kept by the Trump family 60 percent stake Through a separate entity, it can be involved in a forest of conflicts and thorny ethical issues. By dealing with USD1, the argument goes, the entities belonging to the foreign authorities indirectly be transferred to the Trump family and buying good interest with the American President of the Council.

George Seljin, an honorary manager at the Cato and Financial Institute, claims an American research reservoir, a “re -influence in the field of influence”. “Making the United States looks more and more like a banana republic.”