Trump's Crypto Company to Pay UFC Fighters in Digital Dollars at White House

President Trump's cryptocurrency company is stepping into the fighting ring — literally. World Liberty Financial will pay UFC fighters a quarter-million dollars in digital money at a major fighting event happening at the White House this Sunday.

The company, which Trump and his sons own, will use something called USD1 stablecoin (a digital currency that always equals one US dollar) to pay fighter bonuses. This is part of UFC Freedom 250, a historic mixed martial arts event taking place on the White House South Lawn.

Here's what's happening: • $250,000 in USD1 digital dollars will be given as fighter bonuses • The event has a total bonus pool of $1.65 million — the largest in UFC history • Winners get their money instantly in digital form, not waiting for banks to open • Another sponsor, Crypto.com, is also paying $1 million in bonuses using their own digital currency

The arrangement has raised eyebrows because Trump's family profits from World Liberty Financial while he serves as president. Reports show the Trump family has made at least $2.3 billion from their crypto ventures since Trump's second term began.

What is a stablecoin? It's like a digital version of regular money. Unlike Bitcoin (which can wildly change in value), stablecoins are designed to always equal one dollar. Think of it as digital cash you can send instantly anywhere in the world.

The UFC event celebrates both fighting and America, with championship bouts scheduled for Trump's birthday. While the instant payments showcase new financial technology, critics worry about the president promoting a business he profits from at his official residence.

This is an AI-generated summary. Read the original article at: https://www.theblock.co/post/404697/trump-backed-world-liberty-financial-to-fund-ufc-fighter-bonuses-in-usd1-stablecoin-at-white-house-event?utm_source=rss&utm_medium=rss