Trump's $2.17 billion stablecoin just triggered senators' investigation - here's why
Key Points
- Trump's family business acquired the USD1 stablecoin, raisin...
Donald Trump's family business just became the proud owner of the world's seventh-largest stablecoin, USD1, with a market cap of $2.17 billion. Meanwhile, three Democratic senators are frantically writing letters like concerned parents finding their teenager's browser history.
Senators Elizabeth Warren, Chris Van Hollen, and Ron Wyden have collectively raised their eyebrows so high they've probably achieved orbit. Their target? The Office of the Comptroller of the Currency (OCC), which now oversees stablecoins thanks to the recently passed GENIUS Act. The senators want to know how exactly the...
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