Waqas pfp
Waqas
@worqas
What do you all know about World Liberty Financial and Trump coin? Is it a real cryptocurrency with public blockchain? Can I see transactions on it? Any tea would be appreciated.
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Monteluna pfp
Monteluna
@monteluna
At least for WLF since I can speak on this as a DeFi guy: It's really just a multisig contract, where people deposit crypto and receive their USD1. The Multisig appears to just mint it on private terms. I have yet to see any transparency about what the backing of USD1 is, and I wouldn't touch it with a 10 foot pole. My opinion: As far as I can tell, it's just Trump's private credit money and he has some deal with Sun and Binance to provide liquidity for it to other liquid pairs. As much as people are saying this is a conflict of interest, the only people using this stuff are some of the most obvious corrupt politicians. If they want to use a private credit money between themselves as IOUs, it's not any different than borrowing private jets or luxury resort hours.
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