World Liberty Financial, the crypto venture tied to Donald Trump, paid $250,000 in fighter bonuses using its USD1 stablecoin at the 'UFC Freedom 250' event held at the White House. The payout marks the first known use of the Trump-linked stablecoin for a government-affiliated prize pool.
USD1 is the stablecoin issued by World Liberty Financial (WLFI), which sources reported paid the bonuses directly to fighters at the event. The transaction puts the spotlight on a token that has seen limited circulation since its launch, now tied to a high-profile White House spectacle.
The payment occurs as Congress investigates the United Arab Emirates-based entity that owns 49% of WLFI. Lawmakers are probing whether foreign ownership of the stablecoin venture raises national security or ethics concerns, given its proximity to the executive branch.
While the stablecoin market is dominated by Tether (USDT) and USD Coin (USDC) with combined supplies over $150 billion, the USD1 token remains a fringe player. Its use for a White House event nonetheless signals potential government adoption channels, though no official statement from the administration has been released.
Critics argue the payment conflates private crypto interests with official White House activities, especially amid the ongoing foreign ownership probe. Supporters frame it as a practical demonstration of stablecoin utility. No fighter has publicly commented on receiving USD1.