Crypto Is Good for Trump but Bad for America, New York Times Reports
- The New York Times report raises alarm about Trump’s crypto pivot.
- Trump endorses the USD1 stablecoin, which former officials back.
- Lawmakers warn of national security and financial system risks.
President Donald Trump’s ongoing support for crypto assets, especially the USD1 stablecoin, continues to draw scrutiny from public commentators and media outlets. The New York Times recently published a report warning that while crypto may serve Trump’s interests, it could threaten U.S. financial security.
Notably, the GENIUS Act, which aims to regulate stablecoins, passed a key Senate hurdle this week amid growing debate.
Trump’s USD1 Stablecoin
At a private gathering of top holders of his TRUMP meme coin, Trump promoted USD1, a stablecoin issued by World Liberty Financial (WLFI), a company led by his former officials.
USD1 is backed 1:1 by U.S. dollar deposits and short-term Treasuries. Having launched in March, it has grown to over $2 billion in valuation, ranking as the fifth biggest in the market. WLFI plans to offer the stablecoin through a registered money services business.
National Security, Illicit Finance Fears Raised Over Politically Link…
The post Crypto Is Good for Trump but Bad for America, New York Times Reports appeared first on Coin Edition.
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Crypto Is Good for Trump but Bad for America, New York Times Reports
- The New York Times report raises alarm about Trump’s crypto pivot.
- Trump endorses the USD1 stablecoin, which former officials back.
- Lawmakers warn of national security and financial system risks.
President Donald Trump’s ongoing support for crypto assets, especially the USD1 stablecoin, continues to draw scrutiny from public commentators and media outlets. The New York Times recently published a report warning that while crypto may serve Trump’s interests, it could threaten U.S. financial security.
Notably, the GENIUS Act, which aims to regulate stablecoins, passed a key Senate hurdle this week amid growing debate.
Trump’s USD1 Stablecoin
At a private gathering of top holders of his TRUMP meme coin, Trump promoted USD1, a stablecoin issued by World Liberty Financial (WLFI), a company led by his former officials.
USD1 is backed 1:1 by U.S. dollar deposits and short-term Treasuries. Having launched in March, it has grown to over $2 billion in valuation, ranking as the fifth biggest in the market. WLFI plans to offer the stablecoin through a registered money services business.
National Security, Illicit Finance Fears Raised Over Politically Link…
The post Crypto Is Good for Trump but Bad for America, New York Times Reports appeared first on Coin Edition.
Read More
Bitcoin Pulls Back After Trump Tariff Shock, But Bullish Trend Holds