Trump crypto company’s USD1 stablecoins backing UFC event bonuses
A spokesperson for the Democratic National Committee decried the move as “an opportunity to use the power of the presidency to make [Trump] and his family even richer.”
Some of the fighters in Sunday’s Ultimate Fighting Championship (UFC) event on the White House lawn will be paid bonuses in stablecoins issued by the Trump family crypto company World Liberty Financial.
On Monday, World Liberty confirmed that UFC would pay up to $250,000 in bonuses using USD1, the US dollar-pegged stablecoin issued by the company. UFC had previously made a similar announcement before the event.
The price of USD1 jumped above $1 on June 12 and remained there, according to CoinMarketCap data at last look. Trading volume in the past 24 hours was up more than 93%, at $2.38 billion.
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