4 days ago
24
Donald Trump — has discovered a new playground, and it’s not a golf course or a reality show set. It’s the wild, wild world of cryptocurrency.
Donald Trump and his sons are diving headfirst into the cryptocurrency world, and they’re not doing it quietly. Their group, World Liberty Financial (WLF), is launching its very own stablecoin, USD1, in a move that has critics raising eyebrows and investors reaching for their wallets.
The timing couldn’t be more strategic — with Trump advocating for crypto-friendly policies, the former president seems to be turning Washington into his personal blockchain playground.
USD1 isn’t just another coin; it’s WLF’s flagship product. Pegged to the US dollar and backed by short-term US Treasuries and other cash equivalents, USD1 promises stability with a side of Trump pizzazz. WLF claims their approach to stablecoins is “conservative” and designed to appeal to institutional investors wary of the Wild West vibe of other crypto projects.
Zach Witkoff, co-founder of WLF and son of Steve Witkoff (Trump’s Middle East envoy), hyped up USD1 as offering what “algorithmic and anonymous crypto projects cannot — access to the power of [decentralized finance] underpinned by the credibility and safeguards of the most respected names in traditional finance.” Credibility? Safeguards? In crypto? Bold claims indeed.
This isn’t Trump’s first crypto rodeo. Earlier this month, reports surfaced that a separate Trump-backed memecoin called $TRUMP raked in $350 million despite having zero intrinsic value.
Critics have questioned whether Trump’s dual role as a crypto advocate and policymaker creates conflicts of interest — but…
English (US) ·