• Trump-linked stablecoin wobbles as WLFI says it’s under ‘coordinated attack’ The USD1 token briefly fell to $0.994, some 0.6% below its $1 peg, CoinGecko data shows. • What to know: USD1 fell as low as $0.994 (0.6% below peg) before recovering to around $0.998. • The project claims hackers compromised cofounder accounts, paid influencers to spread fear, and opened short positions on WLFI in an attempt to trigger panic and profit from volatility. • Developers credited USD1’s dollar-for-token redemption feature with helping maintain confidence and prevent a deeper or prolonged depeg, underscoring how direct convertibility remains critical to stablecoin resilience. • dollar stablecoin of World Liberty Financial - a crypto protocol with close links to President Donald Trump’s family - slipped from its $1 peg on Monday amid what the project’s developers described as a “coordinated attack” against the protocol. • The token fell to as low as $0.994 during the day, some 0.6% from its intended $1 anchor,CoinGecko datashows.
Article Summaries:
- Trump‑linked stablecoin USD1 briefly slipped below its $1 peg, falling to $0.994 before rebounding to about $0.998, CoinGecko data shows. World Liberty Financial (WLFI) said the dip was caused by a “coordinated attack” that included hacking co‑founder accounts, paying influencers to spread doubt, and opening short positions on WLFI. The team credited USD1’s redemption feature-allowing holders to exchange tokens for U.S. dollars at a 1:1 rate-for keeping the peg intact. USD1 is backed 1:1 by U.S. Treasuries, dollar deposits and other cash equivalents, and has a $5 billion market cap.
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