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  • The US President is launching a stablecoin, is that allowed?

    From Joseph Pereira@1:124/5016 to All on Thu Mar 27 09:54:44 2025
    Donald Trump's World Liberty Financial crypto venture is going to launch a new stablecoin. It will be the USD1. The coin will be backed by US government bonds.

    The coin must retain a value of 1 dollar. After all, that is the backup that lies underneath... as long as the government bonds continue to be paid properly.

    They themselves say they have already raised 550 million dollars.

    Is this interesting?

    Very briefly: No

    This is just another scam setup from Trump, in which he hopes that his followers will be crazy enough to put money into it again. Their money is skimmed off and eventually it will collapse and all participants will suffer a significant loss. In the meantime, Trump and his colleagues have long since withdrawn the obtained dollar themselves and transferred it to their own bank account.

    But... I hope that many of Trump's followers will go all in. Let them put their assets into it. If that is what it takes to eventually make them lose faith in their orange Jesus, then so be it.
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