World Liberty Financial, Cryptocurrency, announced by Donald J. Trump and his sons, on Tuesday, are planning to sell a digital currency called Stablecoin, deepening the president’s financial relations with Crypto while its administration relaxes the enforcement of the industry.
Stablecoin will be known as USD1, company books In a post on social media, without revealing when it will be sold. Stablecoins, a common form of cryptocurrency, is designed to maintain a fixed value of $ 1, making it useful for many types of encrypted transactions.
“No games. No tricks. Just real stability”, global freedom to publish At the x.
Stablecoin is the fourth of the digital currency by Mr. Trump and his business partners to the public during the past year. World Liberty already offers an encrypted currency called WLFI. This month, the company Declare It sold $ 550 million of these digital currencies. A work entity associated with Mr. Trump receives a 75 percent reduction of sales.
Days before his inauguration, Mr. Trump also began selling the so-called mechanical-a type of digital currency that relies on an online joke or celebrity amulet. Melania Trump Mimikoen put her on the market on the same weekend.
In recent months, Mr. Trump has begun to integrate Crypto into his social media company, the Trump Media & Technology Group, the mother company of social reality. Trump Media announced this week that it will work with Crypto.com, which is the digital currency trading platform, to provide investment products linked to Crypto.
The aggressive conquests of Mr. Trump in the encryption market came at the same time that he was his administration Reduces the enforcement of the encryption companies The regulations are declined. Government ethics experts said that his efforts to benefit from an industry that supervises it reaches tremendous conflicts in interests, with no precedent in American history.
The world adds the global ink to this chaotic node of commercial conflicts. Congress studies legislation to organize Stablecoins that can reach the office of Mr. Trump before the end of the year. In a speech at the Checks conference this month, Mr. Trump The name For “Simple Logos” for Stablecoins, saying that they will “will be the dominance of the US dollar.”
Usually, Stablecoins is supported by the assets that the currency source keeps in the reserve. Every time users want to recover Stablecoin, they can go to the source and exchange the digital currency for cash.
In this announcement on Tuesday, World Liberty said it would support Stablecoin using short -term US Treasury bonds, dollar deposits and other monetary equations.
“We offer Stablecoin digitally investors and major institutions can integrate with confidence in their strategies for negative and secure transactions across the border,” said Zach Whittkov, one of the world’s founders in the world and Ibn Steve Whitchouf, Mr. Trump’s envoy to the Middle East.
The focus on international payments is the possibility that foreign governments or commercial entities will use currency for Mr. Trump.
Mr. Fryer said: “There is a lot of aggressions about this market, and previous relations with illegal financing,” said Mr. Fryer.
Once skeptical of encryption, Mr. Trump converted to digital currencies on the campaign trail last year, and promised to turn the United States into the “planet’s encryption capital”. The industry has spent tens of millions of dollars to support Mr. Trump and finance Congress candidates who have spoken positively about encryption.
In September, Mr. Trump began global freedom alongside his three sons, Donald Junior, Eric and Baron, as well as Steve and Yakkov. They entrusted daily work operations Two unknown entrepreneursChase Herro and Zak Folkman, who have no busy record in this industry.
World Liberty initially promised to create an encryption platform that would allow users to borrow and lend to digital currencies. But so far, the company has not provided any products regardless of WLFI and Stablecoin.
Over the past few months, the company has begun in a bit of purchase, as it collects stocks of cryptocurrencies that include ether as well as the least well -known coins such as SUI and Link.
In a modern committee, Mr. Hiro He said The world was freedom created a “strategic reserve” of symbols. He did not explain the ultimate goal of the stock.
The idea had clear echoes of one of the initiatives of Mr. Trump at the White House – the creation of American stock of bitcoin, which is what Declare In an executive order this month.
