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Eugene

(66,793 posts) Tue Mar 25, 2025, 10:16 AM Mar 2025

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

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/

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

Another week, another grift.

16 replies

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Highlight:

Trump's World Liberty Financial crypto venture says it will launch stablecoin (Original Post) Eugene Mar 2025 OP

"seamless, secure cross-border transactions" means more untraceable rubles for republicans PSPS Mar 2025 #1

Krasnov's $$$ Laundry... ultralite001 Mar 2025 #13

Stable Genius Coin wolfie001 Mar 2025 #2

The e-grift will now commence in full Torchlight Mar 2025 #3

It's called looting NotHardly Mar 2025 #4

So when the value tanks, no_hypocrisy Mar 2025 #5

This message was self-deleted by its author Diraven Mar 2025 #6

I don't see how anyone makes money from this Diraven Mar 2025 #7

I would expect an attempt to make federal accounts use it in some way muriel_volestrangler Mar 2025 #8

This whole worthless administration was so bitcoin dude bros could get richer. Initech Mar 2025 #9

A Stable is a Reliable place to find horses' asses. GopherGal Mar 2025 #10

Will this be the new coin of the realm (US currency)? andym Mar 2025 #11

Witkoff? Isn't that the name of the guy we've got in Moscow negotiating a Russia-Ukraine cease-fire? Midnight Writer Mar 2025 #12

Zach Witkoff's dad... ultralite001 Mar 2025 #14

Small world, ain't it? Thanks for the info. Midnight Writer Mar 2025 #15

Stablecoin from a stable genius? Yo_Mama_Been_Loggin Mar 2025 #16

PSPS

(15,217 posts)

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

Reply to Eugene (Original post)

Tue Mar 25, 2025, 10:28 AM

Mar 2025

ultralite001

(2,364 posts)

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

Reply to PSPS (Reply #1)

Tue Mar 25, 2025, 04:23 PM

Mar 2025

Open for Business...

wolfie001

(7,085 posts)

2. Stable Genius Coin

Reply to Eugene (Original post)

Tue Mar 25, 2025, 10:33 AM

Mar 2025

then

Torchlight

(6,313 posts)

3. The e-grift will now commence in full

Reply to Eugene (Original post)

Tue Mar 25, 2025, 10:37 AM

Mar 2025

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

NotHardly

(2,620 posts)

4. It's called looting

Reply to Eugene (Original post)

Tue Mar 25, 2025, 10:53 AM

Mar 2025

no_hypocrisy

(54,269 posts)

5. So when the value tanks,

Reply to Eugene (Original post)

Tue Mar 25, 2025, 11:07 AM

Mar 2025

that adds to the national debt?

Response to no_hypocrisy (Reply #5)

Diraven This message was self-deleted by its author.

Diraven

(1,824 posts)

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

Reply to Eugene (Original post)

Tue Mar 25, 2025, 11:13 AM

Mar 2025

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.