news 
Title: Trump-Backed World Liberty Financial Launches USD1 Stablecoin on Two Blockchains
[Author’s note: The article below was written by Oliver Dale, Editor-in-Chief of CoinCentral and founder of Kooc Media. He is a believer in open-source software, blockchain technology, and a free and fair internet for all.]
In an unexpected move, Trump-backed World Liberty Financial has launched its USD1 stablecoin on two blockchains, signaling a significant entry into the rapidly growing market of decentralized finance (DeFi). Alex and Zach, along with Zak Folkman and Chase Herro, previously worked on Dough Finance and are now part of this new venture.
Stablecoins have become increasingly popular in recent years due to their potential for generating massive profits. Major issuers like Tether, which operates the USDT stablecoin, have reportedly generated $13 billion in profits with a staff of only around 100 employees. This has raised concerns about potential regulatory issues and conflicts of interest.
The USD1 token has gained significant attention after being listed on blockchain data platforms such as Blockchain.com and Etherscan. The token was launched by World Liberty Financial, which is closely tied to President Trump, who recently announced a $30 million investment in the project. Some critics have expressed concerns about these connections, citing instances where other crypto executives with ties to the president have seen their cases dropped or delayed.
The launch of USD1 Stablecoin on two blockchains signifies a significant expansion into the DeFi space for World Liberty Financial. This development comes amid growing regulatory interest in stablecoins. The GENIUS Act has been proposed and is expected to reach a full floor vote soon.
Source: https://coincentral.com/trump-backed-world-liberty-financial-launches-usd1-stablecoin-on-two-blockchains/
