President Donald Trump’s crypto portfolio continues to grow. The crypto project has launched a World Liberty Financial Stablecoin, or a coin fixed to a Fiat currency like US dollar, according to Bitcoin or Ethereum. As the name implies, the stablecoins is designed to fluctuate. This is usually obtained by creating a reserve on the cash or treasury invoices that draws Stablecoin on one -to -one basis.
Stablecoins can serve as a cash equivalent and are particularly popular among merchants because they provide a shelter from volatility. It does not require investors to go from crypto to Fiat currency. The two largest stablecoins are USDT and USDC with a market value of $ 143 billion and 60 billion dollars, respectively.
Why should the Trump family start their own Stablecoin?
Stablecoins is a big business. Tether, the company behind the USDT, reported that it was not a $ 13 billion audited in 2024. financial picture. And the company behind USDC Circle planning Being open to the public.
Tether and circle the US dollar or the US debt, which is fixed to the US dollar with the Slices of the US debt. Although Stablecoins owners do not receive interest, Stablecoin exporters can sometimes reduce 5% discount from their treasures accrued. Easy money. Tether welcomed billions of profits with only 100 employees. August. Compared, Telecom giant Cisco, required 90,000 employees Net 12.6 billion dollars.
What is World Liberty Financial?
The World Liberty Financial announced in August is one of Trump’s NFTs and a breast crypto products. The project is focused on defi or decentralized financing. TEF APPLICATIONS aim to reproduce the businesses of banks – rental and borrowing – block chains.
World Liberty Financial’s product plans are uncertain. It has not been released yet and there is little information about what the platform does on the website. Project “gold paper“He says that users are planning to be a center in which they can access a series of defi applications, such as non -centralized loans or decentralized crypto exchanges. Trump is listed as a” chief crypto lawyer “.
What did World Liberty Financial have done so far?
World Liberty Financial’s product is still under winding, but it allowed people to buy their own crypto currency: $ Wlfi. According to Gold Paper, Jeton allows users to vote for certain bids that manage the defect platform.
Investors flooded the crypto currency of the Trump family. On Tuesday, the project announced that it has collected $ 550 million in its coin sales. There are ethical experts raised Alarm about the potential to sell the effect of the crypto currency. For example, a little critics The goal of the lawsuit from the Securities and the Stock Exchange Commission pointed out to Justin Sun and the public procurement of $ 75 million.
Who included World Liberty Financial?
The staff of the participants in the project is a mixture of Trump family members, loyal and crypto developers. The sons of the president – Barron, Eric and Donald Jr. – World Liberty Financial’s “web3 ambassadors”. Steve Witkoff, a Trump loyal and real estate boss, is listed as the founder of his two sons Alex and Zach.
And two defi developers Zak Folkman and Chase Herro are also listed as the founder. The couple was behind the crypto project dough financing. It suffered A hack of $ 2 million in July.
This story initially took part in Fortune.com
