World Liberty Financial refutes the senator's investigation into the association between the USD1 stablecoin and Trump.

GateUser-6433627c · 2025-05-16T19:53:50+00:00

World Liberty Financial rebuts the senator's investigation into its USD1 stablecoin and its connection to Trump, emphasizing that the stablecoin is backed by U.S. Treasury bonds and aims to enhance the dollar's position. The company denies any association with the company behind Trump and accuses the investigation of flaws. The company is committed to strengthening the role of the dollar and supporting financial inclusion, stating that it will not be influenced by political motives.

GateUser-6433627c

2025-05-16 19:53:50

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World Liberty Financial refuted senator’s investigation into USD1 stablecoins and Trump’s nexus] World Liberty Financial, through its law firm BakerHostetler, responded to U.S. Senator Richard Blumenthal’s investigation, saying the investigation was “fundamentally flawed.” Blumenthal previously accused the company’s USD1 stablecoin of potentially violating federal law and questioned the Trump family’s ties to the project. World Liberty Financial highlighted that USD1 is a stablecoin fully backed by U.S. Treasuries and cash equivalents, designed to strengthen the global standing of the U.S. dollar and expand financial inclusion. The company said its mission is to strengthen, not weaken, the role of the US dollar, particularly in underserved regions. The company also explicitly denied any affiliation with Fight Fight LLC (the company behind the Trump meme coin). Zach Witkoff, co-founder of World Liberty Financial, said on social media: "We’re not going to be intimidated by politically motivated politicians, we’re busy building. "

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