Trump’s Crypto Venture Introduces a Stablecoin
World Liberty Financial, the crypto business created by President Trump and his sons, unveiled a cryptocurrency called a stablecoin, furthering his ties to an industry his administration regulates.
It Is Happening Every Day, Every Where
World Liberty Financial, the crypto business created by President Trump and his sons, unveiled a cryptocurrency called a stablecoin, furthering his ties to an industry his administration regulates.
The first-of-its-kind event at the White House with top crypto executives and the president showcased Mr. Trump’s embrace of the once renegade industry.
The prospect of using taxpayer money to stockpile cryptocurrencies in a national reserve has drawn criticism from lawmakers and investors.
The president’s promotion of a speculative digital coin left some crypto investors feeling blindsided, while others saw it as a gimmick that undermined the industry’s credibility.
Libertarian and crypto allies of Ross Ulbricht, who was serving a life sentence for distributing drugs on his Silk Road website, leveraged President Trump’s desire for political support to secure his release.
The new business venture by the Trump family is generating intensifying criticism, even as it has turned into an overnight phenomenon, generating a windfall on paper.
The president-elect and his family have a direct and potentially lucrative stake in the sale of a cryptocurrency product that surged in value in the hours after going on sale, days before his inauguration.
The cryptocurrency industry has pushed President-elect Donald J. Trump to establish one, creating real political momentum behind the plan.