Trump's World Liberty Financial crypto venture says it will launch stablecoin

[Eugene]

Source: Reuters

LONDON, March 25 (Reuters) - Donald Trump's World Liberty Financial crypto venture will launch a dollar-pegged stablecoin called USD1, backed by U.S. Treasuries, dollars and other cash equivalents, it said in a statement on Tuesday.

USD1 will be launched on the Ethereum and Binance Smart Chain blockchains, the statement said, with plans to launch to other protocols in the future.

The digital token, intended to keep a value of $1, will be "fully backed by a reserve portfolio audited regularly by a third-party accounting firm," World Liberty said, without giving details of the accounting firm, or the date of its launch.

Zach Witkoff, World Liberty's co-founder, said "sovereign investors and major institutions" would be able to integrate USD1 "into their strategies for seamless, secure cross-border transactions."

-snip-

By Tom Wilson and Elizabeth Howcroft
March 25, 2025 9:47 AM EDT Updated an hour ago


Read more: https://www.reuters.com/technology/trumps-world-liberty-financial-crypto-venture-says-it-will-launch-stablecoin-2025-03-25/

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Alternate link: https://finance.yahoo.com/news/trumps-world-liberty-financial-crypto-134723917.html

Another week, another grift.

[PSPS]

1. "seamless, secure cross-border transactions" means more untraceable rubles for republicans

[ultralite001]

13. Krasnov's $$$ Laundry...

Open for Business...

[wolfie001]

2. Stable Genius Coin

then

[Torchlight]

3. The e-grift will now commence in full

And a lot of basement-tech-bru's will be cleaned out by Sept.

[NotHardly]

4. It's called looting

[no_hypocrisy]

5. So when the value tanks,

that adds to the national debt?

[Diraven]

7. I don't see how anyone makes money from this

Except the insiders who are granted billions of them for free. Everyone else would make more money just trading currency directly or earning interest on dollars in the bank.

[muriel_volestrangler]

8. I would expect an attempt to make federal accounts use it in some way

which would then enrich Trump's operation. Possibly after a period of getting people to pay effective bribes to Trump by using it.

[Initech]

9. This whole worthless administration was so bitcoin dude bros could get richer.

[GopherGal]

10. A Stable is a Reliable place to find horses' asses.

So likely aptly named...

[andym]

11. Will this be the new coin of the realm (US currency)?

With the king's pic on the jpg? Would Trump dare?

[Midnight Writer]

12. Witkoff? Isn't that the name of the guy we've got in Moscow negotiating a Russia-Ukraine cease-fire?

Wonder if they are connected?

[ultralite001]

14. Zach Witkoff's dad...

Steve Witkoff, is currently serving as the Krasnov administration’s "Special Envoy to the Middle East"...

[Midnight Writer]

15. Small world, ain't it? Thanks for the info.

[Yo_Mama_Been_Loggin]

16. Stablecoin from a stable genius?

No wonder it smells like horseshit.