00:00It's Benzinga bringing Wall Street to Main Street.
00:02The Trump family's decentralized finance venture, World Liberty Financial,
00:06has launched a new stablecoin called USD1, according to CNBC.
00:10The stablecoin is pegged to the U.S. dollar and will soon go live on Ethereum and Binance
00:14Smart Chain. USD1 is backed by short-term U.S. treasuries, dollar deposits, and other
00:19cash equivalents. The venture has raised $550 million since its October launch,
00:23with entities eligible to receive up to 75% of net revenue. The launch follows Trump's
00:28executive order establishing a strategic Bitcoin reserve,
00:31causing rising market demands for stablecoins.
00:34For all things money, visit Benzinga.com.
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