World Liberty Financial, the cryptocurrency group backed by Donald Trump and his sons, will launch its own stablecoin to tap into a market the US president has made a policy to promote.
The token, called USD1, is the highest-profile product from the crypto project, which was founded in the run-up to November’s presidential election.
The new coin highlights how Trump and his associates are seeking to profit from the resurgent digital asset market, at a time when the president is also advocating for more crypto friendly policies. Some critics have argued this approach raises concerns over conflicts of interest.
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