Summary
- Eric Trump argued that stablecoins could be a means to preserve the value of the U.S. dollar.
- The World Liberty Financial stablecoin USD1, supported by the Trump family, was cited as an example of preserving the dollar's value.
- Christopher Waller, a Fed governor, and Brian Pellegrino also assessed that stablecoins are important for the dollar's international standing and for maintaining financial market dominance.
Eric Trump, the second son of U.S. President Donald Trump, argued that stablecoins could be a means to preserve the value of the U.S. dollar.
On the 26th (local time), according to crypto-focused media Cointelegraph, Eric Trump told the New York Post in an interview, "Stablecoins will save the U.S. dollar." He specifically cited the stablecoin 'USD1', the core product of the cryptocurrency project 'World Liberty Financial (WLFI)' supported by the Trump family, as an example and emphasized it as a means to preserve the dollar's value.
Similar claims have also been made. Christopher Waller, a Federal Reserve governor, said in February this year, "Stablecoins will expand the dollar's international reach and strengthen its status as a reserve currency." Brian Pellegrino, founder of LayerZero Labs, also stated, "Stablecoins are the optimal means for the United States to maintain dollar dominance in global financial markets."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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