President Donald Trump’s Cryptographic empire It is expanding with the recent ads of a new stable and investment funds backed by dollar for digital assets. The movements are the last in the forms that challenge the norms that the president has inclined to cryptographic projects that could significantly boost their personal wealth while they are in office.
World Liberty Financial, a cryptocurrency company that Trump helped launch last year, announced on Tuesday Which plans to launch USD1, a stablecoin linked to a 1 to 1 ratio to the US dollar.
Stablecoins are among the faster Cryptocurrency industry segments. In general, they are backed by a currency issued by the government, such as the dollar or gold, which makes them more appropriate for commercial transactions than more volatile digital assets such as bitcoin or other cryptocurrencies.
“We are offering a digital dollar stable that sovereign investors and the main institutions can integrate with confidence in their strategies for cross -border transactions without problems and safe,” said Zach Witkoff, world financial co -founder of Liberty, in a statement on Tuesday.
The announcement of World Liberty occurs in the midst of an impulse of Congress, with strong support from the White House, To approve legislation That followers say it would facilitate that Stablecoin companies operate and grow in the United States.
Witkoff and his father, Trump Steve Witkoff’s special diplomatic envoy, helped to launch World Liberty Financial with Trump and their children last year. According to the terms described on the company’s website, a Trump -owned company has the “right to receive 75% of the income of the Net Protocol” of World Liberty Financial after expenses.
Monday, Trump Media AND Technology Group Corp. announced that it would be associated with Crypto Crypto.com’s trailer firm to launch funds quoted in the stock market for investors to buy them. The funds, which will be launched at the end of this year, will include a “unique ethf basket of cryptocurrencies”, as well as “values with an approach made in the United States that cover various industries such as energy,” TMTG said in An ad.
TMTG is the parent company of the Trump Social Networks Company, Truth Social. Trump does not have a decision -making role in the company, but has a majority participation and is its greatest shareholder. The price of TMTG shares jumped after the ad.
Recent ads add to a growing list of projects related to cryptography that Trump has supported in a way that Critics say they are inappropriate For a public office holder.
Just a few days before assuming the position, Trump launched His own meme currency that initially saw a massive price increase followed by a prolonged slide. Memes currencies are highly speculative assets that often begin as a joke and do not have real value. Trump has also promoted Look online and shoes stores that have branched in the sale of Trump products related to cryptography, including a “Crypto” clock sold for $ 100,000.
Once a cryptographic skeptic, Trump has adopted digital assets and committed to doing United States “world capital” for cryptocurrencies. He has taken several First steps To help boost the cryptographic industry, which he spent strongly to help Trump win the elections last year and has become a powerful political force.
Before taking office, Trump’s family business He launched a volunteer Ethics agreement that prohibits the president of the “daily” decision making of their companies and limits the financial information shared with it. But that agreement will not prevent you from promoting your cryptography related products, as did on social networks on Sunday By promoting Your meme coin.
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