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Washington D.C. – In the latest case of Donald Trump picking winners and losers in government policy based on who is enriching his family, the President is reportedly expected to sign an Executive Order supporting a deal granting United Arab Emirates-backed investment firm MGX a major ownership stake in TikTok’s U.S. business. The Trump administration also reportedly invited MGX to the deal, where it was expected to take a board seat in the U.S. version of TikTok.

In a major conflict of interest, the President’s order enriching MGX comes on the heels of a $2 billion deal announced in May between Trump family crypto firm World Liberty Financial (WLFI), MGX, and Binance – a deal that has already compromised U.S. national security interests. As the New York Times previously reported, under the May deal, “MGX would use World Liberty’s USD1 stablecoin to complete a $2 billion investment in Binance, a giant crypto exchange … the single largest investment in a crypto company ever…The transaction effectively handed World Liberty a $2 billion bank deposit, funds that the company could invest to generate returns in the tens of millions annually.” 

“President Trump’s use of his office to enrich himself and his friends seems to know no bounds. His grand scheme to ‘save’ TikTok just so happens to involve the enrichment of one of his major crypto business partners that generates tens of millions of dollars a year for the Trump family,” said Accountable.US Executive Director Tony Carrk. “That’s no coincidence for the only U.S. President in history that has seen his bottom line  grow by billions from the White House. Meanwhile, working Americans see their costs continue to increase, from groceries to health care to housing. It’s clear the President’s priority is himself, not the rest of us.”

READ MORE: WHAT YOU NEED TO KNOW

PREVIOUSLY FROM ACCOUNTABLE.US ON TRUMP’S CRYPTO CORRUPTION:

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