
Trump’s crypto empire set to expand with new stablecoin and investment fund offerings
Associated PressPresident Donald Trump’s crypto empire is expanding with the recent announcements of a new dollar-backed stablecoin and investment funds for digital assets. World Liberty Financial, a cryptocurrency venture Trump helped launch last year, announced Tuesday that it plans to launch USD1, a stablecoin pegged at a 1-to-1 ratio to the U.S. dollar. “We’re offering a digital dollar stablecoin that sovereign investors and major institutions can confidently integrate into their strategies for seamless, secure cross-border transactions,” Zach Witkoff, a World Liberty Financial co-founder, said in a statement Tuesday. World Liberty’s announcement comes amid a push by Congress, with strong support by the White House, to pass legislation that supporters say would make it easier for stablecoin companies to operate and grow in the U.S. Witkoff and his father, Trump’s special diplomatic envoy Steve Witkoff, helped launch World Liberty Financial with Trump and his sons last year.
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