President Donald Trump’s crypto empire is expanding with the recent announcements of a new dollar-backed stablecoin and investment funds for digital assets. The moves are the latest in the norm-defying ways the president has leaned into crypto projects that could significantly boost his personal wealth while in office. World Liberty Financial, a cryptocurrency venture Trump helped launch last year, announced Tuesday that it plans to launch USD1, a stablecoin pegged at a 1-to-1 ratio to the U.S. dollar. On Monday, Trump Media & Technology Group announced it was partnering with the crypto-trading firm Crypto.com to launch exchange-traded funds for investors to purchase.
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