White House UFC Fight Night Paid Entire Bonus to Fighters in WLFI’s USD1 Stablecoin
Highlights
- Trump family’s World Liberty Financial offered $250K in USD1 stablecoin as bonus to UFC fighters.
- This comes despite regulatory and congressional scrutiny on stablecoin.
- USD1 stablecoin and WLFI crypto token's market cap recorded significant boost.
UFC fighters at the White House UFC Freedom 250 event received a total of $250K in performance bonuses paid in USD1 stablecoin issued by the Trump family’s crypto firm World Liberty Financial (WLFI). This comes despite growing scrutiny on the stablecoin and conflicts of interest.
Trump Family-Backed WLFI Offered $250K in USD1 Stablecoin Bonus to UFC Fighters
White House hosted UFC Freedom 250 fight night at President Donald Trump’s 80th birthday. UFC announced the Trump family’s crypto company, World Liberty Financial (WLFI), as the official partner of the event.
WLFI revealed a $250K Performance of the Night bonus pool, which will be awarded to UFC athletes selected for standout performances during the White House event.
The official broadcast also confirmed that UFC fighters will be paid in USD1 stablecoin from the Trump family’s crypto company. Notably, these bonuses were paid entirely in USD1 stablecoin.
This turned out to be a major marketing event for the stablecoin. “A victory in Washington should mean money in your pocket immediately, not when the bank opens, said Zach Witkoff, co-founder and CEO of World Liberty Financial.
He pointed out that USD1 makes U.S. dollars more accessible and faster. “We’re excited to partner with UFC, which has done more than any organization to modernize the business of sports,” added Witkoff.
Significant Market Cap Boost
The WLFI’s $250K pool is separate from a $1 million bonus pool denominated in Cryptocom’s CRO token. However, it helped boost the market cap for both USD1 and WLFI token.
USD1 stablecoin’s market cap increased by more than 1% to $4.41 billion. Trading volume also increased by 30% over the past 24 hours. This comes following rising scrutiny on USD1 stablecoin. Recently, Justin Sun’s HTX delisted USD1 stablecoin amid ongoing disputes.
Meanwhile, WLFI token jumped 6% in the past 24 hours, with the price currently trading at $0.0604. The 24-hour low and high are $0.0578 and $0.0617, respectively. Trading volume also increased by 82% in the last 24 hours amid a rise in Bitcoin price and the broader crypto market.
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