Trump’s Kids Launching Stablecoin After Trump Backs Regulations for Them

World Liberty Financial, the decentralized finance protocol that was founded and run primarily by President Donald Trump’s sons, announced Tuesday that it will launch a stablecoin called USD1. That announcement comes less than one week after President Trump threw his support behind a new legal framework that would seek to normalize stablecoins. According to Reuters, USD1 will be backed by U.S. Treasury bonds, dollars, and other cash equivalents. It’ll launch on Ethereum and Binance Smart Chain blockchains, with plans to expand to other protocols in the future. Like most stablecoins, USD1 seeks to maintain a fixed value of $1 rather than be a more volatile token. Stablecoins are typically meant for crypto bros to park their cash in. Think of stablecoins like poker chips—you buy in with real cash, use the chips to play the games (in this case, throwing money into some memecoin or whatever), and then cash them out for real money again when you’re done. But World Liberty Financial certa ... Read full article.