Trump-linked stablecoin used for bonus payouts at White House UFC contest
UFC Freedom 250 paid fighter bonuses in USD1, the stablecoin issued by the Trump-linked crypto venture World Liberty Financial, at a contest held at the White House.
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Summary
- World Liberty Financial’s USD1 stablecoin, backed by the family of President Donald Trump, was used to pay $250,000 in fighter performance bonuses at UFC Freedom 250 on the White House lawn.
- The promotion comes months after World Liberty Financial borrowed $75 million from a DeFi protocol, which temporarily locked out retail USD1 depositors, and amid litigation with crypto entrepreneur Justin Sun.
- USD1’s circulating supply has grown to about $4.6 billion as World Liberty Financial seeks a federal banking license.
