The Trump family's encryption project WLFI refutes the investigation by U.S. senators into the relationship between USD1 and Trump.

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Odaily News Trump family encryption project World Liberty Financial responded to the investigation by U.S. Senate Democrat Richard Blumenthal regarding the relationship between its USD1 stablecoin and former President Trump, stating that the investigation is politically motivated. The company emphasized that the USD1 stablecoin is backed by U.S. dollars and U.S. Treasury bonds, operates transparently, and complies with regulatory requirements. Previously, Senate Democrats expressed concerns about the ties between World Liberty Financial and the Trump family, pointing out that the $2 billion investment agreement reached with Abu Dhabi state-owned enterprise MGX may pose a conflict of interest. World Liberty Financial stated that its operations are independent of the Trump administration and that all investments follow compliance procedures. (The Block)

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