Trump-linked stablecoin used for bonus payouts at White House UFC contest

World Liberty Financial, a cryptocurrency venture with ties to Donald Trump, issued fighter bonuses in its USD1 stablecoin during the UFC Freedom 250 event held at the White House on May 11, 2024. This marks the first instance of a presidential candidate's associated company using a stablecoin for fighter payouts at a White House event. The UFC Freedom 250, which featured a card with 12 fights, was hosted by Donald Trump at his Mar-a-Lago resort in Palm Beach, Florida. Fighters received their bonuses in USD1, a stablecoin designed to maintain a 1:1 peg with the US dollar. World Liberty Financial aims to promote financial freedom and support conservative causes through its digital assets. The company's involvement at the UFC event highlights the intersection of cryptocurrency, political figures, and major sporting events.