Trump Makes Big Moves Again, USD1 Stablecoin Launch

Trump has launched a new coin, and this time it's a stablecoin. Recently, the fund supported by the Trump family, World Liberty Financial, tweeted to announce the launch of a stablecoin called USD1, which can be exchanged 1:1 for US dollars, backed by real US dollars, short-term US Treasury bonds, and dollar deposits as equivalents. Trump's eldest son and second son both retweeted this tweet, and some netizens joked: The president personally endorses it, completely compliant; before it was done secretly, now it’s done openly.

In fact, Trump has been very interested in the cryptocurrency world since he took office. The previously issued Trump coin skyrocketed 400 times upon listing, making a staggering $56 billion in a day, allowing many people to achieve financial freedom, but it eventually fell back down, harvesting a wave of retail investors.

On one hand, Trump needs a currency discourse that is independent of the US dollar and under his control; on the other hand, he is also settling accounts for those who supported him before he took office. He desperately wants to break free from the constraints of the Federal Reserve and establish a new currency system, so cryptocurrency naturally became his choice.

This coin is expected to launch on the BSC smart chain and ETH e-commerce area, but trading has not yet been opened. There are likely already plenty of traps for retail investors, so everyone should be cautious and avoid investing in the wrong coin. Coupled with earlier news of the Trump family wanting to invest in Binance, there will probably be many stories in the cryptocurrency world this year. Although the cryptocurrency market is currently experiencing a bear market, from a long-term perspective, the long-term demand for Bitcoin, the halving effect, institutional demand, and gray areas still exist, and the essence has not changed. After several rounds of crashes and reshuffling, it is likely to gradually recover.

In the face of high-risk assets, if there is no solid base and no more risk-free income to back it up, recklessly going all in may not survive until the next dawn. Remember, staying at the poker table is the most important. Do you think this move by the understanding king is a retail investor trap or a new wealth code? Come to the comment section to discuss, follow me for the latest news in the cryptocurrency world.