World Liberty Financial rebuts Senator's investigation into USD1 stablecoin's association with Trump.

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According to a report from The Block on May 16, World Liberty Financial responded through its law firm BakerHostetler to the investigation by U.S. Senator Richard Blumenthal (, stating that the investigation "has fundamental flaws." Blumenthal had previously accused the company’s USD1 stablecoin of potentially violating federal law and questioned the Trump family's association with the project.

World Liberty Financial highlighted that USD1 is a stablecoin fully backed by U.S. Treasuries and cash equivalents, designed to strengthen the global standing of the U.S. dollar and expand financial inclusion. The company said its mission is to strengthen, not weaken, the role of the US dollar, particularly in underserved regions. The company also explicitly denied any affiliation with Fight Fight LLC (the company behind the Trump meme coin). Zach Witkoff, co-founder of World Liberty Financial, said on social media: "We're not going to be intimidated by politically motivated politicians, we're busy building. "

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