Trump-backed World Liberty Financial says USD1 short and social media attack fails as stablecoin briefly dips

• USD1 briefly fell to about $0.99707 on Monday morning, a drop that typically would not be considered a stablecoin depeg.

Article Summaries:

• World Liberty Financial, a firm backed by former President Trump, reported that its USD1 stablecoin was briefly shorted, causing a minor dip to about $0.99707 on Monday morning. The fall, while noticeable, did not constitute a depeg, as the value remained within the typical tolerance range for stablecoins. The firm also noted that a social‑media‑driven attack aimed at undermining the stablecoin’s credibility failed to produce lasting impact. Overall, the incident highlighted the resilience of USD1’s peg despite short‑term volatility and external pressure.

Sources:

• https://www.theblock.co/post/390857/trump-backed-world-liberty-financial-says-usd1-short-and-social-media-attack-fails-as-stablecoin-briefly-dips?utm_source=rss&utm_medium=rss