Posts

Showing posts with the label world liberty financial

ANALYSIS: Mapping Donald Trump’s growing crypto empire

Donald Trump, the president of the United States and convicted felon, has embraced crypto. He’s expanded his personal business ventures into the industry and has found ways to embrace it from the Oval Office, issuing executive orders and promising legislation. Protos has tried to summarize the various connections between the cryptocurrency industry and the president’s family.  This raft of projects shows the willingness of the Trump family to cash in on their name. World Liberty Financial World Liberty Financial purports to be a DeFi-focused firm that has launched a stablecoin and maintains a portfolio of tokens.  The project named Donald Trump Sr. as its “chief crypto advocate” and his three sons as its “Web3 ambassadors.” Donald Trump Jr. and Eric Trump, two of the aforementioned sons, were previously implicated in an investigation of the Trump Organization that resulted in the brothers receiving a ban from serving as ...

World Liberty Financial announces USD1 without governance vote

World Liberty Financial, the cryptocurrency firm from which Donald Trump profits, has announced its plan to launch a stablecoin, USD1.  USD1 is described as a stablecoin pegged to the US dollar that “will be 100% backed by short-term US government treasuries, US dollar deposits, and other cash equivalents.” Apparently, the stablecoin will launch on Ethereum and Binance Smart Chain.  Custody for the coin will be managed by BitGo, the firm that collaborates with Justin Sun and BiT Global for Wrapped Bitcoin (WBTC) , a major component of the World Liberty Financial portfolio.  Interestingly, neither the governance forums nor the governance portal discussed or voted on the launch of USD1 and this change to World Liberty Financial. Actually, there has not been a single post of any kind in the governance forum since January 9.  Who is behind World Liberty Financial, Trump’s new crypto? Read more: Is World Liberty Financial a dead project? ...