World Liberty proposes using 5% of treasury to boost its stablecoin
Summary
A Trump-affiliated firm is exploring the use of $120 million from its treasury to enhance USD1 stablecoin adoption, aiming to compete with larger players in the cryptocurrency market. This move could significantly impact the stablecoin landscape.
Key Insights
What is World Liberty Financial and its connection to the Trump family?
World Liberty Financial is a Trump family-affiliated cryptocurrency firm that launched products including the WLFI token, which has raised $550 million, and the USD1 stablecoin. Eric Trump and Donald Trump Jr. are proposed to serve on the board of its planned public treasury company.[1]
Sources:
[1]
What is a stablecoin and how does USD1 fit into this proposal?
A stablecoin is a cryptocurrency pegged to a stable asset like the US dollar to minimize volatility, often backed by reserves such as dollars or Treasuries. World Liberty's USD1 is such a stablecoin, and the proposal involves using treasury funds to boost its adoption amid competition in the market.[1][4]