As Trump’s Family Crypto Business Gains Steam, Ethical Concerns Mount

As the leaders of World Liberty Financial, a crypto company part-owned by US president Donald Trump and his family, try to drum up business on an international tour, critics have raised the alarm over the collection of alleged conflicts of interest trailing in their wake. On Thursday, Eric Trump appeared onstage in Dubai at crypto conference Token2049. Alongside him sat Zachary Witkoff, cofounder of World Liberty Financial and son of the White House envoy to the Middle East, Steve Witkoff. Together, the pair announced that USD1, a crypto coin unveiled by World Liberty Financial in March, would be used by MGX, an investment firm funded by the United Arab Emirates, to make a $2 billion investment in Binance, the world’s largest crypto exchange. As a sort-of intermediary in the deal, World Liberty Financial stands to earn tens of millions of dollars. “We thank MGX and Binance for their trust in us,” Witkoff told the crowd at Token2049, the New York Times reported. “It’s only the beginn ... Read full article.