Trump-Backed World Liberty Unveils Stablecoin — WSJ

By Vicky Ge HuangWorld Liberty Financial, a crypto project backed by President Donald Trump and his family, said it will launch a new stablecoin.Named USD1, the token will be backed by short-term U.S. government treasuries, U.S. dollar deposits, and other cash equivalents, the company said Tuesday. The token will be issued on the Ethereum network and a blockchain created by Binance, the crypto exchange that has sought to forge closer ties to the president's family.Representatives of President Trump's family have held talks to take a financial stake in Binance's U.S. arm, The Wall Street Journal reported.This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).