UAE $$: Fueling Trump Crypto, Binance Pardon And Sudan Genocide?
NEWS & RESEARCH
Months after the UAE invested $500 million in the Trump-owned crypto firm World Liberty Financial (WLF), the UAE-backed firm MGX funneled $2 billion into the exchange Binance using WLF’s stablecoin, USD1. This move significantly increased USD1’s circulation, potentially netting WLF tens of millions in revenue. Approximately four months later, President Trump pardoned Binance founder Changpeng Zhao, who had lobbied for clemency following a 2023 money laundering conviction. Binance has since become a cornerstone of the Trump family business. UAE is also financing the Rapid Support Forces (R.S.F.), an Arab militia that is notorious for slaughtering and raping members of Black African ethnic groups in Sudan.
SOURCES: New York Times | WIRED | New Yorker | Violation Tracker
ANALYSIS & OPINION
Ethics experts and former officials have condemned the deal and subsequent pardon. Former DOJ Attorney Elizabeth Oyer labeled the move "pardon abuse," while Cornell economist Eswar Prasad described it as a "brazen flouting of the rule of law" aimed at boosting the crypto industry. Reporting suggests Binance effectively "powers" USD1 by providing its underlying code and a dedicated trading platform to drive adoption. Meanwhile, despite labeling the Sudan situation as genocidal, the US an Europe are largely silent on UAE funding of R.S.F. Sen. Chris Van Hollen contends the Sudan conflict could be ended “if we had the political will to do so—instead of starting stupid wars with Iran.”
SOURCES: Guest Essay: New York Times | New Yorker | New York Times | New York Times
HOW TO FIX IT
Congressional action:
Increase Transparency: Pass the Presidential Pardon Transparency Act, requiring the public disclosure of all pardon details, and mandate that the administration provide Congress with the prosecution history of pardoned individuals.
Limit Pardon Power: Support Constitutional Amendment to prohibit self-pardons, family pardons, and clarify that pardons issued for corrupt purposes (such as bribes) are invalid.
Regulate Crypto Ethics: Enact the Stop TRUMP in Crypto Act and End Crypto Corruption Act to manage conflicts in the digital asset space.
Enforce Financial Separation: Mandate that presidential investments be placed into a blind trust to prevent direct control over business interests.
Crackdown on United Arab Emirates: Limit the sale of weapons to UAE as long as it arms the R.S.F.
Legislation:H.R.252 - Presidential Pardon Transparency Act of 2021| H.J.Res.4 - Proposing an amendment to the Constitution of the United States limiting the pardon power of the President | H.R.3573 - Stop TRUMP in Crypto Act of 2025 | S.1668 - End Crypto Corruption Act of 2025 | S.935 - A bill to prohibit sales and the issuance of licenses for the export of certain defense articles to the United Arab Emirates, and for other purposes
