Insiders: Trump's crypto project World Liberty plans to issue a stablecoin

2024-10-29 08:25:14

Collection

ChainCatcher news, according to Decrypt, multiple informed sources have revealed that the Trump crypto project World Liberty Financial, which recently completed a $14 million token launch, is planning to issue a stablecoin. The project has appointed Paxos co-founder Rich Teo as the head of stablecoin and payment operations. The project is simultaneously developing multiple core components, with functionalities including the stablecoin set to be launched at the appropriate time.

It is worth noting that if Trump wins the presidential election in 2024, the stablecoin issued by his business partners may face questions of conflict of interest. Currently, the largest stablecoin issuer in the U.S., Circle, holds $34.59 billion in assets to support its $34.37 billion USDC circulation. Meanwhile, Tether has achieved a record profit of $5.2 billion in the first half of 2024 and currently holds nearly $81 billion in U.S. Treasury bonds.

(Source Link)

Related tags

World Liberty stablecoin Circle

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.