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UFC to pay White House fighters in crypto issued by Trump company (www.theguardian.com)
submitted 4 months ago by to c/aboringdystopia@lemmy.world
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The Ultimate Fighting Championship (UFC) announced on Friday that it will pay bonuses to fighters in a form of cryptocurrency issued by Trump family business World Liberty Financial at the heavily publicized White House mixed martial arts event on Sunday.

The development connects the Trump family’s financial interests to the high-profile UFC competition being promoted on government property. The competition on the south White House lawn is scheduled for 14 June, Donald Trump’s birthday.

The UFC said some fighters will receive bonuses in World Liberty Financial crypto called “stablecoins”, whose value is pegged to the US dollar. World Liberty named the currency “USD1”.

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[–] 2 points 4 months ago (2 children)

No it's stable coins. This is a legal loophole because it can't make money on paper. Everyone involved can cash out to usd, cad, yuan, yen, dinar, btc, etc... Literally the next day no problem.

It's also serves other cons but everyone getting paid will have dollars to spend and UFC will make a killing off books even if it's rained out

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  • [–] 0 points 4 months ago (1 child)

    If you believe a Trump-issued stablecoin is going to be actually honored if you want to cash out, I've got a bridge to sell you. Given everything that has happened in the last couple of years, and last couple of decades, do you honestly expect the due diligence to be correct and the books to not be cooked?

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