Recently, the Trump family made big news, saying they would launch a "USD1" dollar token, claiming it is 1:1 exchangeable with the dollar, backed by real gold and silver U.S. bonds and bank deposits. Crypto veterans are discussing this matter; let's talk about whether this is reliable.
Why does Trump want to issue a coin?
Everyone knows that Trump previously created TRUMP Coin, which was just a pure hype celebrity coin, with prices like a roller coaster; many followers got trapped badly. Now this operation is clearly upgraded:
1. The old man might want to create his own "private bank", after all, he has always had a problem with the Federal Reserve. If it works out, it would mean he has an extra money printing machine.
2. Take advantage of the election year to harvest a wave of traffic, both to pocket the iron fans' money and to give supporters some "benefits"; this calculation is quite clever.
What impact could USD1 bring?
This coin is currently extremely popular, but the risks are not small:
On the positive side: it carries Trump's star effect, and the trading volume might shoot up the rankings as soon as it launches, possibly igniting the entire crypto market.
The critical issue: they claim 1:1 exchange, but who has seen their bank accounts? If they use the reserves to invest in stocks and lose money, or if the government seizes them, this coin could turn into worthless paper in an instant. Refer to previous stablecoin collapses; how many people lost everything.
Is it a money pit or a real opportunity?
There's a huge debate online, with two factions:
Skeptics think: isn't this just TRUMP Coin 2.0? Last time it was a scam coin that ripped off investors, and this time they just changed the name to continue deceiving. Especially if the reserves are not disclosed or if funds are secretly misappropriated, retail investors will be left holding the bag again.
Optimists believe: if it can achieve transparent regulation, combined with Trump's political and business connections, it might just become the second USDT. Especially if it can facilitate online and offline payments and circulate within the supporter community, it could really have potential.
Advice for ordinary people
Don't be dazzled by the three characters "Trump"; celebrity-endorsed projects have collapsed many times.
Focus on three key points: Is there a legitimate audit report? Can it be exchanged for real dollars at any time? Is it subject to government regulation?
If you're going to play, only use spare money; never bet your entire fortune. Remember the old saying in the crypto world: you focus on interest, while others are focused on your principal.
To put it bluntly, this is a politically charged financial experiment. While we onlookers watch the excitement, we must keep our wallets tight. If you really want to get in, it's advisable to wait three months to see if it can actually deliver 1:1, don't be the first batch of guinea pigs. After all, in the crypto world, surviving longer is more important than making quick profits.
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