Trump and stablecoins
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Maybe he thinks they have something to do with being a stable genius...
The crypto lobby has been pouring boatloads of cash into the latest presidential campaign of former president Donald Trump, who has entirely abandoned his once-hardline stance against digital currencies as the campaign money has rolled in.
Now, on the back of recent promises to make America the "crypto capital of the world," Trump is prepping to publicly roll out a wildly dubious and ethically fraught new crypto project started by none other than his sons Eric and Donald Trump, Jr.
The project is called World Liberty Financial (WLFI), and it centers on "stablecoins," or coins that creators claim are pegged to stable commodities or government currencies. In an X-formerly-Twitter thread posted last week, the WLFI team claimed their stablecoin would be pegged to the US dollar.
"For too long, the average American has been squeezed by the big banks and financial elites," Trump, a financial elite whose penthouse is caked in gold, said in a Thursday X-formerly-Twitter video promoting the forthcoming crypto venture. "It's time we take a stand — together."
But while stablecoins sound like they should be stable, they've historically been disastrous for investors and economies.
https://futurism.com/trump-crypto-crime-terrorism
And the WSJ:
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Grifters gotta grift.
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