finance
UFC to Pay Performance Bonuses in USD1 Stablecoins at White House Event
The Ultimate Fighting Championship will distribute some fighter bonuses in USD1 stablecoins at its Sunday event on the south White House lawn. World Liberty Financial, listed as an official sponsor, is creating the $250,000 bonus pool.
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The Ultimate Fighting Championship will pay some fighters their performance bonuses in USD1 stablecoins at the mixed-martial-arts event scheduled for Sunday on the south White House lawn. The company, a Delaware-based cryptocurrency venture, is listed as an official sponsor of the event.
World Liberty Financial also announced it is creating the $250,000 bonus pool that will be distributed in the stablecoins.
Financial is a venture involving the Trump family and the family of Steven Witkoff. The company’s financial disclosure filings list holdings valued at over $50 million. Reuters reported this month that the Trump family’s crypto ventures have generated billions of dollars in paper gains.
The USD1 stablecoins are pegged to the U.S. dollar and backed by dollar reserves. They are separate from the company’s governance tokens, which have been the subject of prior litigation.
Financial first announced its sponsorship on Wednesday. The UFC initially said Thursday that bonuses would be paid in a different cryptocurrency. On Friday the organization issued a press release naming World Liberty Financial as the presenting partner of the USD1 bonus pool.
A White House spokesman said there is no conflict of interest because the president’s assets are held in a trust managed by his children. The event is not connected to the separate America250 organization.
