In a show of investor confidence, the project recently announced it had raised $550 million in token sales, attracting attention from various stakeholders, including Trump family members and loyalists. Barron, Eric, and Donald Jr.have been designated as World Liberty Financial’s "Web3 Ambassadors,” while real estate magnate Steve Witkoff and his sons are listed as co-founders alongside DeFi developers Zak Folkman and Chase Herro, who previously faced challenges with their project, Dough Finance, which suffered a $2 million hack.
Ethical Concerns Arise World Liberty Financial, announced in August, is part of Trump’s broader foray into the cryptocurrency world, which also includes non-fungible tokens (NFTs) and a memecoin named after the President, TRUMP. The project is positioning itself within the decentralized finance sector, which aims to replicate traditional banking services—such as lending and borrowing—on blockchain platforms.
According to recent reports, President Donald Trump’s crypto venture, the decentralized finance (DeFi) platform World Liberty Financial (WLFI), has unveiled a new stablecoin called USD1. This token, pegged to the US dollar, is now live on the Ethereum (ETH) and Binance blockchains, although the launch was not officially announced by the company on Monday March 24.
The story "World Liberty Financial Unveils USD1: A New Stablecoin In Trump’s Growing Crypto Portfolio" has 514 words across 72 sentences, which will take approximately 3 - 5 minutes for the average person to read.
Which news outlet covered this story?
The story "World Liberty Financial Unveils USD1: A New Stablecoin In Trump’s Growing Crypto Portfolio" was covered 21 hours ago by NewsBTC, a news publisher based in United Kingdom.
How trustworthy is 'NewsBTC' news outlet?
NewsBTC is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United Kingdom and publishes an average of 8 news stories per day.
It's most recent story was published 9 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
