Scammer-In-Chief: Trump's Crypto Firm World Liberty Financial Applies For Bank Charter To Issue USD1 Stablecoins, His Family To Profit Handsomely
Crime does pay.
Last week, I wrote a report - “The Great Currency Reset: How Trump And The Federal Reserve Are Working To Crash The Dollar As A Pretext For Full Tokenization” - which explains how the current administration is working in tandem with the Federal Reserve and other powerful globalist institutions, to deliberately and explicitly devalue the dollar via inflation in order to push the population into accepting digital, programmable “money” and tokenized assets.
One of the tricks this current administration is doing that with is stablecoins; which, as explained in that report, Trump signed the GENIUS Act in July to provide federal regulations to establish stablecoins as digital dollars, backed by the dollar and U.S. treasuries. A stablecoin is no different than a central bank digital currency (CBDC), but is privatized and held by third-party groups, from crypto custodians to traditional banks, from corporations and asset managers and more, and the Genius Act provides those guardrails.
Furthermore, some have suggested that the Genius Act is a clever ploy to somehow clear the national debt by erasing it with crypto, and then revalue gold on the backend, leaving holders the bag. While there are some kernels of truth to this theory, the stablecoins themselves are another way to export inflation and debt to Americans and the world. The scheme works like this: if the cryptocurrency industry grows, then the demand for U.S. stablecoins will grow, which will increase the need for new treasury bills to be created by the government, and if the demand for those T-bills grows, then the interest rates on that debt will be lower, thus allowing the government to borrow money at a cheaper rate.
With that in mind, before the end of the year, the administration approved five new crypto banks to manage and distribute dollar-denominated stablecoins.
But here’s where things get even more sketchy: the Trump family owns their own stablecoin and tokenized firm, World Liberty Financial, which provides stablecoin “USD1.”
After the Genius Act was signed, I later detailed how the Trump family was set to profit from this with their USD1 token. The administration and Trump family already have a history of blatant pump & dump crypto scams, and their stablecoins look to do the same. Read the report for more details:
This past week, World Liberty Financial announced that they have applied to also become an official National Trust Bank Charter to Issue and Custody USD1 Stablecoins.
From the press release:
The charter will position WLTC to issue USD1, the dollar-backed stablecoin that has reached over $3.3 billion in circulation in its first year. The trust company plans to serve institutional customers, including cryptocurrency exchanges, market makers, and investment firms. WLTC will also offer digital asset custody and stablecoin conversion services, enabling holders of other stablecoins to move into USD1.
“This application marks a further evolution of the World Liberty Financial ecosystem. USD1 grew faster in its first year than any other stablecoin in history,” said Zach Witkoff, the proposed President and Chairman of World Liberty Trust Company. “Institutions are already using USD1 for cross-border payments, settlement, and treasury operations. A national trust charter will allow us to bring issuance, custody, and conversion together as a full-stack offering under one highly regulated entity.”
WLTC plans to offer three core services under federal supervision:
Stablecoin issuance and redemption: Minting and redeeming USD1 with no fees at launch
On-ramp and off-ramp services: Converting between U.S. dollars and USD1 with no fees at launch
Custody and conversion: Secure custody for USD1 and other accepted stablecoins, with conversion services at prevailing market rates
The trust bank will be structured to comply with the GENIUS Act. All operations will follow rigorous AML and sanctions screening, as well as be subject to state-of-the-art cybersecurity protocols. Mack McCain, general counsel of World Liberty Financial, will serve as trust officer for WLTC, overseeing fiduciary operations.
“The OCC has supervised trust activities for over a century,” said Mack McCain, the proposed trust officer of World Liberty Trust Company. “WLTC will operate under that same framework, with segregated customer assets, independent reserve management, and regular examination. That gives banks, asset managers, and corporations the regulatory clarity they need to further expand their use of USD1.”
USD1 is fully-backed by U.S. dollars held at regulated depository institutions and funds holding short-duration U.S. Treasury obligations. The stablecoin operates across ten blockchain networks including Ethereum, Solana, BNB Smart Chain, TRON, Aptos, and AB Core, supporting near-instant cross-border payments, tokenized settlement, and programmable payouts for enterprise customers.
BitGo CEO Mike Belshe said, “BitGo is proud to have supported USD1’s rapid growth to over $3.3 billion in its first year and looks forward to continuing as a key strategic partner as WLTC becomes fully operational and USD1 enters its next stage of growth.”
As I have mentioned previously, Trump himself has been buying up tens of millions of bonds.
The scam is simple: if interest rates go down, bond prices rise, meaning Trump will profit handsomely from this. Moreover, the more people who hold USD1 as they would digital dollars, the more real dollars the Trumps can hold in a bank account and collect interest on.
So as the dollar continues to lose value, the world continues to de-dollarize, the Federal Reserve continues to print more inflation, the Trump family will profit; and eventually they will pull out, leaving holders of devalued U.S. debt holding the bag. It’s not so much about clearing the debt versus exporting more of it and profiting from it before the dollar system presumably crashes.
It’s legalized crime.
Nehemiah 5:7 Then I consulted with myself, and I rebuked the nobles, and the rulers, and said unto them, Ye exact usury, every one of his brother. And I set a great assembly against them.
This is another reason why, some have argued, that the so-called decentralized route of stablecoins is worse than the conventional means of CBDCs; because while the latter is oppressive, the other one has less oversight and regulations, and allows for more open usury scams.
Meanwhile, Don Jr. is out and about promoting gold IRA scams, citing a loss of faith in the U.S. dollar!
Oh, how nice of them: they have all their bases covered, running from one scam to the next!
Ecclesiastes 5:8 If thou seest the oppression of the poor, and violent perverting of judgment and justice in a province, marvel not at the matter: for he that is higher than the highest regardeth; and there be higher than they.
This administration is a joke.
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DJT is a Globo puppet making both Good and Bad moves. Keeps public in Chaos. Overall a Puppet. A USA Freedom Traitor - No Dissolving Patriot Act, PREP Act. Refusing to Pardon The Hon Edward Snowden. Not offering Julian Assange nor Manning their Just Accolades. My Verdict? Chaos Master. “Lock Her Up” still ringing in my ears. Calling MTG a true Warrior, a Traitor? You are a donkey!
Currency... not "money". Crypto is not real... dollars (FedResv notes) are not money.
Only real, gold and silver are REAL money and why central banks and JP Morgan horde gold and JP Morgan has 750 MILLION ounces of silver in vaults...
Silver WILL become "unobtainium".