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NYDIG Questions Transparency of Trump Family's Stablecoin USD1 Reserve Report
Summary: According to Coindesk, NYDIG analysts have raised doubts about the transparency and quality of the reserve proof report for the stablecoin USD1 issued by the crypto company World Liberty Financial, in which the Trump family is deeply involved. Despite USD1 claiming to be fully backed 1:1 by cash equivalents such as US Treasury bonds, the ...
According to Coindesk, NYDIG analysts have raised doubts about the transparency and quality of the reserve proof report for the stablecoin USD1 issued by the crypto company World Liberty Financial, in which the Trump family is deeply involved. Despite USD1 claiming to be fully backed 1:1 by cash equivalents such as US Treasury bonds, the current proof report released does not meet industry-leading transparency standards and requires further improvement. Previously, due to Trump's political influence and his family's close financial ties to the company, the USD1 project has sparked serious concerns among US senators regarding conflicts of interest and national security risks.
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Link: NYDIG Questions Transparency of Trump Family's Stablecoin USD1 Reserve Report [Copy]
