Latest news with #WorldLibertyFinancial
Yahoo
a day ago
- Business
- Yahoo
Stablecoins Are Here to Stay. Who Stands to Gain From Them?
The line between traditional and decentralized finance is becoming increasingly blurry as Wall Street ventures into the cryptosphere and vice versa. Crypto has traveled a long road to be recognized not only as legitimate by entrenched financial institutions but also as an arena in which they want to play. Crypto started on the fringes of the financial world, but eventually became too valuable for governments to ignore as just some internet fad. The Securities and Exchange Commission, under President Biden, began regulating the use of cryptocurrencies, cracking down on celebrities who promoted memecoins and companies that it argued had broken securities laws. A bonanza of fines and penalties put a chill on the crypto sector, with individuals and institutions shying away from it due to the scattershot regulations. President Trump, however, has done a 180, saying he'll make the US 'the crypto capital of the planet.' His SEC, with a new crypto-friendly chief in charge, dropped many Biden-era lawsuits. And the government's not just reversing regulatory action against crypto. It's cozying up to the space. President Trump established a bitcoin reserve by executive order this spring, and the POTUS has his own memecoin (as does First Lady Melania Trump) as well as a series of non-fungible tokens. He's also the majority owner of the crypto venture World Liberty Financial. Slowly, even the most staid financial institutions are following the government's lead and preparing to enter the digital asset market. At the same time, crypto companies are taking more license to create products that align closer with traditional finance. READ ALSO: US Housing Market Mired in the Mud and 'Flying Car' Industry Taxis Toward Takeoff Genius Out of The Bottle Companies that have been waiting on the crypto sidelines are likely to jump into the game following the passage of the GENIUS Act in mid-July. The bill lays out a regulatory framework for stablecoins (the first of its kind in crypto) that'll make it easier to issue the digital asset. Stablecoins are considered a smooth entry point into crypto because they're seen as less volatile than other types of digital assets. That's because their value is supposed to be tied 1:1 to another asset, which is almost always the US dollar. For cautious financial institutions, making a stablecoin or adding some to their investment options is like dipping a toe into the crypto waters before diving in. Bank of America recently revealed it's creating a stablecoin, and Citigroup is looking into doing the same. Both banks' timelines are unclear but are likely to hinge on legislation, such as the GENIUS Act. Major retailers, including Amazon and Walmart, also have stablecoins prepped and ready to potentially launch under new rules. Banks view the technology as an additional means of providing clients with rapid money transfers, including between national borders and varied currencies. Moving into stablecoin transactions, Bank of America CEO Brian Moynihan has said, is similar to the shift from paper checks to electronic transactions through services like Zelle. Retailers, meanwhile, see stablecoins as a way to turn commerce into a one-to-one transaction with consumers, circumventing credit card transaction fees and payments systems that cost major companies like Amazon and Walmart billions of dollars per year. 'I think we're on the verge of a payment revolution in the United States,' Faryar Shirzad, chief policy officer at crypto exchange Coinbase, recently told NPR. Tokenized Everything Stablecoins are just the start, and are leading companies to tokenize other real-world assets beyond fiat currencies — including treasuries, gold and equities. These real-world tokenized assets operate similarly to stablecoins. Han Qin, the co-founder and CEO of Jarsy, explained that stablecoins have helped his company overcome an educational hurdle. Because people are starting to better understand what stablecoins are, it's easier for them to get the concepts behind Jarsy's product, tokenized equities. The No. 1 stablecoin by market cap, USDC, is not actually a tokenized version of a US dollar, but rather an asset that is stable 1:1 to the value of a US dollar. In that same way, Qin said, 'Our token is not a tokenized version of the equity on the blockchain. It's just a token that shares the same value as the 100%-backed assets, like a stablecoin. It's not stable in relation to the US dollar, but stable in relation to the underlying assets. There's no ownership of the equity.' Jarsy allows investors to buy tokens tied to the value of a private company's shares, which are typically inaccessible to the average retail investor. Qin said Jarsy's tokens are backed by actual shares that Jarsy owns — some of which are in companies such as SpaceX, Anthropic, and Stripe. If one of these companies goes public, Jarsy facilitates the sale of investors' tokens after a 180-day lockup period. A flurry of companies, both in crypto and traditional finance, launched similar products this spring. Robinhood started offering tokens that represent shares of private companies, including OpenAI and SpaceX, in the EU in July, while crypto exchange Kraken has started selling tokenized equities of buzzy publicly traded US companies like Apple and Nvidia to non-US customers. Fidelity, meanwhile, filed with the SEC to tokenize its treasury fund on the ethereum blockchain, an asset class that data found is worth more than $5 billion. But some tokenization may be pushing the regulatory leeway stablecoins have brought to crypto too far for regulators. Approach with Caution European regulators are scrutinizing Robinhood's rollout of tokenized equities. Tokenized real-world assets exist in a gray area that the law hasn't yet defined. It's unclear whether they'll be regulated like the assets they represent or be subject to less stringent rules. In the US, the future of tokenized real-world assets could hinge on the CLARITY Act, a bill that advanced to the Senate in July. It will decide whether tokens are securities monitored by the SEC or commodities monitored by the CFTC — the latter scenario would be less stringent. So far, the government under Trump has leaned toward looser crypto regulations, with critics arguing the recently passed GENIUS Act is too skimpy on consumer protections. Critics have also called out Trump's own crypto ventures and how lax laws could enrich him and his family. Maxine Waters, the top-ranking Democrat on the House Financial Services Committee, proposed an 'anti-crypto corruption week' to follow the so-called 'crypto week' in which the GENIUS Act passed. Proponents of looser regulations say the blockchain could improve the current financial system by speeding up transactions, reducing fees, operating 24/7 worldwide and giving the unbanked access to modern financial infrastructure. Qin said that traditional and decentralized financial organizations 'are building the same infrastructure, same future from a different angle' and that together they can 'amplify the whole market.' This post first appeared on The Daily Upside. To receive delivering razor sharp analysis and perspective on all things finance, economics, and markets, subscribe to our free The Daily Upside newsletter.
Time Business News
2 days ago
- Business
- Time Business News
World Liberty Financial Rebrands to World Trust Liberty as Governance Token Nears Tradeability
New York, NY — World Liberty Financial, the politically connected crypto venture linked to Donald Trump and his family, has rebranded as World Trust Liberty, signaling a strategic shift as its governance token, World Liberty Coin (WLC), prepares to enter public markets. Learn more at The rebrand comes just weeks after WLC token holders voted overwhelmingly in favor of making the previously non-tradable asset transferable — a move long demanded by early backers and crypto watchdogs. 'This is more than cosmetic,' said CEO Daniel K. Harris in a statement. 'We're making changes that align our brand with what we believe crypto should stand for — trust, transparency, and individual liberty.' Founded in 2024, World Liberty Financial made headlines for raising more than $550 million through the sale of its governance tokens and USD-backed stablecoin, USD1. The venture is majority-owned by DT Marks DEFI LLC, an entity tied to Donald Trump, with family members including Eric Trump and Donald Trump Jr. involved in its leadership. While the project described itself as decentralized and democratic, most of the platform's economic and governance power remained concentrated in a small group of insiders. Until July 2025, token holders had no way to trade or liquidate their WLC holdings — a sticking point that drew criticism from the broader crypto community. The turning point came earlier this month when a community vote passed with over 99.9% approval, unlocking token transferability. Although the token is still not listed on major exchanges, sources close to the project suggest public trading could begin in Q4 2025. World Trust Liberty has not confirmed a specific listing date, but a revised whitepaper is expected in August. The token is positioned as the centerpiece of the platform's evolving ecosystem, with utility features such as: Access to token-based lending and investment tools Staking with returns backed by asset portfolios Participation in future governance proposals Cross-border payments and stablecoin liquidity support Rebrand Signals Shift in Tone The new name, World Trust Liberty, is part of a broader campaign to reframe the company as a credible player in the digital finance space. While the platform remains heavily centralized compared to most DeFi projects, leadership appears eager to distance itself from earlier criticisms and capitalize on growing global interest in U.S. dollar-backed stablecoins. 'We recognize the concerns of our community and the industry at large,' Harris said. 'We're evolving toward a model that prioritizes clarity, security, and long-term utility.' The company says it is exploring integrations with third-party DeFi protocols and is in talks with U.S.-based custodians to ensure regulatory alignment — a potential nod to pending guidance from the SEC and CFTC. With the rebrand complete and governance token tradeability approved, World Trust Liberty is entering a pivotal phase. Investor confidence remains mixed, with some early buyers hoping the transition opens the door for market upside — while others remain wary of the project's centralized control and political entanglements. Whether WLC finds a place in mainstream crypto markets will likely depend on how the project executes its rollout — and how it handles scrutiny from both regulators and the community. For ongoing updates, visit . TIME BUSINESS NEWS
Malaysia Sun
22-07-2025
- Business
- Malaysia Sun
Trump Media invests $2 billion in Bitcoin
The company plans to use the assets to generate revenues, according to a statement US President Donald Trump's media and technology company has acquired about $2 billion in Bitcoin and related assets, underscoring his administration's accelerating pivot toward cryptocurrencies. The Trump family has increasingly aligned with the crypto industry through new ventures, investments, and public endorsements in recent months. On Monday, Trump Media - the firm behind the Truth Social platform - announced the acquisition, saying another $300 million in capital has been allocated to an options-based Bitcoin strategy, and signaling that it may convert the options into cryptocurrency depending on market conditions. The assets will be used "to generate revenues and potentially to acquire additional crypto assets," CEO and President Devin Nunes said. Crypto now accounts for about two-thirds of the firm's $3 billion in liquid holdings. The purchase is part of Trump Media's 'Bitcoin treasury plan', which involves buying and holding digital assets - similar to how companies stockpile bonds - to increase liquidity and financial flexibility. Trump Media shares soared nearly 10% following the announcement. Trump, who placed his shares in a revocable trust managed by Donald Trump Jr., maintains a major stake valued at around $2.3 billion. Once a crypto skeptic, Trump reversed course during the 2024 campaign, pledging to make the US the "crypto capital of the world" and to serve as its "crypto president." Since returning to the White House, he has backed several family-led ventures in the space, including World Liberty Financial - a decentralized finance project that has brought in $500 million since launching in September. As part of the new US 'strategic reserve' of crypto assets unveiled in March, Trump signed the GENIUS Act last week - the country's first major law regulating digital currency. Critics have claimed that the overlap between Trump's crypto ventures and his political authority could result in widespread corruption. Trump Media's announcement came less than a week after Bitcoin hit a record high, topping $120,000 - reinforcing its position as the world's most valuable and widely held cryptocurrency. Analysts attributed the rally to surging institutional demand and a shift in US policy under Trump. On Tuesday, it was trading at $118,395 per coin. (
News18
19-07-2025
- Business
- News18
Crypto Market Booms As Ethereum Soars 70% In A Month, Trump's Company Reaps Massive Gains
Last Updated: Currently, Ethereum is trading at $3,538.23, while Bitcoin stands at $118,071.65. In the last 24 hours alone, Ethereum has seen institutional purchases worth $5 million News18 There's a surge of activity in the cryptocurrency market as the total market capitalisation has crossed the $4 trillion mark for the first time ever. After a strong rally in Bitcoin, Ethereum is now making headlines with an impressive rise. The world's second-largest cryptocurrency has jumped 20% in just five days and a whopping 70% over the past month. Its market cap has swelled by $150 billion in less than 30 days. US President Donald Trump's company, World Liberty Financial, has reportedly made significant investments in Ethereum. With the latest price rally, Trump is said to have gained enormously from the rise. Currently, Ethereum is trading at $3,538.23, while Bitcoin stands at $118,071.65. In the last 24 hours alone, Ethereum has seen institutional purchases worth $5 million. The GENIUS Act Fuels the Rally The driving force behind this crypto boost is a historic law passed in the United States, the GENIUS Act, which was signed by President Trump last Friday. The legislation has sparked fresh enthusiasm and confidence among investors, pushing 'Crypto Week' into high gear. Cryptocurrencies are now being seen as more than just a risky or speculative investment. So far in July, Bitcoin funds have attracted $5.5 billion (Rs 46,750 crores), while Ethereum ETFs have seen investments worth $2.9 billion (Rs 24,650 crores). According to sources, Trump's company has recently invested around $10 million (Rs 85 crores) in Ethereum. Blockchain data from Nansen reveals that World Liberty Financial bought 3,007 ETH at a price of $3,325 each. This isn't their first major investment as in March, the company had already purchased 4,468 ETH. In addition to Ethereum, Trump's personal gains from his $TRUMP meme coin have been remarkable. According to crypto analytics firm Gauntlet, he has earned $150 million (Rs 1,275 crores) from the token between January and mid-June. Research platform Messari suggests that a planned 'coin unlock' this week could increase his crypto wealth by another $100 million (Rs 850 crores). view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Al Jazeera
18-07-2025
- Business
- Al Jazeera
Trump says newly signed crypto law will establish ‘American dominance'
Washington, DC – United States President Donald Trump has signed into law new cryptocurrency legislation that advocates say represents a watershed moment for the industry. Speaking from the White House on Friday, the US president hailed the GENIUS Act, which establishes regulations and consumer protections for stablecoin, a type of cryptocurrency whose value is linked to a fixed currency or commodity. The signing capped what Trump dubbed 'crypto week', as a total of three cryptocurrency bills made their way through the US legislature. In the end, only the legislation related to stablecoin landed on Trump's desk Two other bills — one that would bar government-issued digital currencies and another that would more clearly define regulatory classifications for cryptocurrency products — were sent from the US House of Representatives on Thursday to the Senate, where they have yet to undergo a vote. Still, Trump hailed Friday's bill-signing ceremony as 'a giant step to cement the American dominance of global finance and crypto technology'. Industry advocates have said bills like the GENIUS Act will help to make cryptocurrency more mainstream in the US. They say a lack of regulatory clarity has hindered wider public adoption of digital currencies. But critics have voiced concern about the Trump family's close ties to the crypto industry, including its stake in World Liberty Financial, a company that launched its own stablecoin, USD1. They highlight the fact that the recent flurry of Republican-led legislation does not address whether a president can hold interests in cryptocurrency, leaving an opening for corruption. Democrats also criticised the GENIUS Act for creating an inadequate regulatory framework that could pose longterm financial risks and open the door for major corporations to issue their own private cryptocurrencies. Still, speaking on Friday, Trump pledged to continue his embrace of the crypto industry, including by furthering his pitch to create a national 'crypto reserve'. Trump also framed his administration as a hard pivot away from the policies of former President Joe Biden, who took a more aggressive approach to investigating cryptocurrency-related crimes. Since taking office for a second term in January, Trump ended several Biden-era cryptocurrency investigations and suspended a special Department of Justice enforcement team. Some of the cryptocurrency leaders previously investigated by the US government were in the audience at the White House. 'You've come a long way since the Biden administration, when they had no idea what you were all talking about, and half of you were under arrest for no reason whatsoever,' Trump told them at the signing ceremony. He addressed certain industry leaders by name, including Brian Armstrong, Chris Pavlovski and twins Tyler and Cameron Winklevoss, all of whom faced probes from the Securities and Exchange Commission (SEC) investigations under Biden. 'Let me say the entire crypto community, for years you were mocked and dismissed and counted out,' Trump said. 'You were counted out as little as a year and a half ago, but this signing is a massive validation.'
