Trump-Backed Stablecoin Experiences Brief Market Disruption

A brief disruption in the market caused a stablecoin backed by the Trump family's crypto company, World Liberty Financial, to drop below its dollar peg on Monday.

According to reports, USD1, the stablecoin issued by World Liberty Financial, fell from $0.9990 USDT to $0.9802 USDT on Binance before recovering within 30 minutes.

The company claimed that this incident was part of a 'coordinated attack' involving hacking and disinformation campaigns against its native token, WLFI.