Trump Coins: From Politics to Crypto? 🤑

by

Imagine a world where the Donald, yes, that Donald, takes a leap from the political arena into the wild, wild west of cryptocurrency. World Liberty Financial, the crypto venture with Trump’s golden touch, has just unleashed a stablecoin upon the world, pegged to the mighty US dollar, with a not-so-modest supply of over $3.5 million. 💰

According to the digital detectives at Etherscan and BscScan, this financial marvel, known as World Liberty Financial USD (USD1), made its grand entrance in early March. Changpeng “CZ” Zhao, the former Binance maestro, pointed out that the smart contract was deployed on both BNB Chain and Ethereum. But, plot twist: World Liberty insists the stablecoin is “not currently tradeable.” 🚫💱

This launch couldn’t be timed more perfectly, as US lawmakers are dabbling with the GENIUS Act (yes, it’s really called that), aiming to guide and establish stablecoin innovation. The bill waltzed out of the Senate Banking Committee on March13 and is now waiting for its moment in the spotlight with a full floor vote. 🎭

Bo Hines, the mastermind behind the President’s Council of Advisers on Digital Assets, is so confident in the GENIUS bill that he’s penciled in a date with Trump’s desk for June. 🗓️

Since World Liberty’s mysterious debut in September2024, it’s been all hush-hush. The website coyly notes that the Trump clan controls a whopping60% of the company’s equity interests. As of March14, World Liberty has raked in a cool $550 million from two public token sales. 💸

Amidst the stablecoin frenzy, rumors swirled that the Trumps were in talks with Binance about acquiring a stake in the exchange and possibly granting a presidential pardon to CZ. But, CZ waved off the rumors, denying any deals or pardons. 🤥

Conflicts of Interest or Just Business as Usual? 🤔

Before the first token sale, World Liberty was under the microscope, with accusations of conflicts of interest as Trump juggled crypto ventures and political campaigning. 🎪

Post-election, Tron’s Justin Sun jumped on the World Liberty bandwagon with a $30 million investment, securing himself an advisory role. And wouldn’t you know it, after Trump’s inauguration and with Mark Uyeda steering the SEC, the regulator hit pause on its case against Sun to “explore a potential resolution.” 🕵️‍♂️

Sun wasn’t alone; other crypto execs who backed Trump saw their SEC troubles vanish into thin air under Uyeda’s watch. 🪄

Meanwhile, the stablecoin market is booming, with active wallets increasing by over50% in a year and the total market cap soaring past $200 billion. Tether (USDT) and USDC remain the crowd favorites, proving that in the world of crypto, stability is king. đź‘‘

Read More

2025-03-25 00:46