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USD1<\/a>, a stablecoin affiliated with President Donald Trump, just briefly dipped below its $1.00 price peg.<\/p>\n The asset slipped to $0.9942 on Monday morning, before regaining its peg within a couple of hours.<\/p>\n The decentralized finance (DeFi) project World Liberty Financial (WLFI<\/a>), which issues USD1, attributed<\/a> the volatility to a \u201ccoordinated attack\u201d from hackers.<\/p>\n \u201cAttackers hacked several WLFI cofounder accounts, paid influencers to spread FUD, and opened massive WLFI shorts to profit from the manufactured chaos.<\/em><\/p>\n It didn\u2019t work.<\/em><\/p>\n Thanks to USD1\u2019s sound mint-and-redeem mechanism and full 1:1 backing, we are trading steadily at par. No scammer can shake the long-term commitment of the entire WLFI team and cofounders to USD1.\u201d<\/em><\/p>\n World Liberty\u2019s native token, WLFI, launched public trading at the beginning of September.<\/p>\n A corporate entity linked to President Donald Trump and his family slashed its equity stake in World Liberty over the course of last year.<\/p>\n The Trump-affiliated company DT Marks DEFI LLC previously owned a 60% stake in the DeFi project.<\/p>\n Fine print on the platform\u2019s website\u00a0now indicates<\/a>\u00a0DT Marks owns approximately 38% of the equity interests in WLF Holdco LLC, which holds the only membership interest in World Liberty Financial.<\/p>\n World Liberty notes that WLF Holdco holds all the rights to net protocol revenues from the DeFi platform, except for net proceeds from the sale of WLFI tokens. The platform also says neither Trump nor any of his family members \u201cis an officer, director or employee of, WLF Holdco LLC or World Liberty Financial.\u201d<\/p>\n However, the DeFi project\u2019s website notes that DT Marks DEFI LLC and \u201ccertain family members of Donald J. Trump\u201d hold 22.5 billion WLFI tokens.<\/p>\n Follow us on X<\/a>, Facebook<\/a> and Telegram<\/a><\/span><\/em>  <\/p>\n
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\n<\/p>\nDisclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n