The US Treasury Secretary Scott Bessent set the house to interview the world of Liberty Financial (WLF) and its new USD1 Stablein on the street.
Democrats of Congress doubted Bessent whether Trump Kryptov's non-interest stable activities could hide hidden support.
Bessent controlled President Trump's World Liberty Financial
In 2024, the World Liberty Financial, founded by a close Trump family, raised around $ 550 million at the end of 2024, selling its own management mark. The Trump family is entitled to about 75% of the cleaning revenue.
In March, WLF launched USD1, a US Treasury and cash equivalents supported by the dollar.
Within a few weeks, Abu Dhabi's National MGX agreed to introduce 2 billion USD USD in Binance, immediately pushing $ 1 to the highest level of stability with Turku CAP.
Rep. Brad Sherman noted that at the 4% market rate, the deal actually provides the $ 80 million annual support for WLF and its Trump owners. He asked if this “interest -free loan” should be a hidden support.
“Abu Dhabi just announced that they give the World Liberty Financial to stability $ 2 billion and it doesn't pay interest. So you and I are both finance people. You just want to check my mathematics, assuming 4% return. Is this interest -free loan $ 2 billion $ 80 million each saidTo.
Bessent said he had not reviewed the symbolic cost relationship to his knowledge and claimed that no interest in stability would pay. He added that no regulator has officially labeled purchases such as hidden subsidies.
The legislators warned that this structure could hide political favor. They called for the Treasury to explain when Stablecoin deals with improper support.
The hearing was based on the study of the New York Times. This report revealed that secret multi -million -dullar mounting fields under Trump, sales to foreign companies and WLF useful political exchanges.
He said that WLF crossed the border between a private company and government policy without a precedent.
“President Trump's spokesman stated in his statement that his assets are in a trust with his children managed by his children requiredTo.
The Commission's Democrats said they were following legislation that require the full expenses of the stable. They also want to deny not -gender structures that act as de facto subsidies.
According to them, such rules are crucial to ensure transparency and prevent conflicts when politically connected companies enter the crypto markets.
Beincrypto has reached World Liberty Financial to understand their claim on such claims and control.
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