Trump-Backed Crypto Venture Repels Coordinated Attack on Stablecoin

World Liberty Financial, a digital-asset venture backed by the Trump family, has reportedly fended off an 'unspecified coordinated attack' against its flagship cryptocurrency product, USD1.

USD1 is a dollar-pegged stablecoin designed to trade at a value equal to $1. It serves as a medium of exchange and store of value in the highly volatile crypto market.

According to data from CoinGecko, the stablecoin briefly traded below $1 on Monday before recovering to its par value.