President Donald Trump Crypto Empire It is expanding with the recent announcement of new dollar-backed stubcoin and investment funds for digital assets. The move is the latest in ways that the president has resorted to crypto projects that can significantly increase his personal wealth during his tenure.
World Liberty Financial, Cryptocurrency Venture Trump It was announced on Tuesday We plan to release USD1, a stablecoin that is fixed at a 1:1 ratio of US dollars.
Stablecoins are in it Fastest growth Cryptocurrency industry segment. They are usually supported by government-issued currencies like dollars and gold, making them more suitable for commercial transactions than volatile digital assets such as bitcoin and other cryptocurrencies.
“We provide digital dollar stability that allows sovereign investors and key institutions to confidently integrate into a seamless, secure cross-border trading strategy,” it said in a statement Tuesday.
The World Liberty announcement comes with strong support for the White House amid a push by Congress. Pass the law Its supporters say Stablecoin companies will make it easier to operate and grow in the US
Witkov and his father, Steve Witkov, Trump’s special diplomatic mission; It was helpful in launching Last year, Trump and his sons in the world. Under the terms outlined on the company’s website, the Trump-owned company is exerting its expense from the world’s Liberty Financials “right to receive 75% of its net protocol revenue.”
On Monday, Trump Media & Technology Group Corp. announced that it will partner with Crypto-Trading Firm Crypto.com to launch exchange-traded funds for investors to buy. The funds, scheduled to be released later this year, include “a unique ETF basket of cryptocurrency” and “a focused American securities across diverse industries such as energy.” announcement.
TMTG is the parent company of Truth Social, a Trump social media company. Trump has no decision-making role in the company, but he owns a majority stake and is the largest shareholder. TMTG stock price jumped after its announcement.
The recent announcement will be added to the growing list of crypto-related projects Trump supports that way Critics say it’s inappropriate For civil servants.
A few days before taking office, Trump Release His own meme coin was initially followed by a large priced spike followed by a long-term slide. Meme coins start out as jokes and are highly speculative assets that often lack real value. I have Trump It was also advertised An online watch and sneaker store that branches out to sell crypto-related playing cards products, including the “Cryptocrat” watches for sale for $100,000.
Trump, a former crypto skeptic, embraced digital assets, I promised to make it The United States is the “capital of the world” of cryptocurrency. He was taken some The early steps To help Trump spend a lot of time winning last year’s elections and boost the crypto industry, which emerged as a powerful political force.
Trump’s family business before taking office I’ve released something spontaneous An ethical agreement in which the president prohibits his company’s “day-to-day” decisions and limits the financial information shared with him. However, the agreement does not ban him from promoting his crypto-related products, as he did on social media on Sunday. When promoting His meme coin.
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