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UFC to pay White House fighters in crypto issued by Trump company (www.theguardian.com)

submitted 15 hours ago by Viking_Hippie@lemmy.dbzer0.com to c/nottheonion@lemmy.world

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cross-posted from: https://lemmy.world/post/48169514

Some fighters will receive bonuses in ‘stablecoins’ issued by Trump family business World Liberty Financial

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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[–] OwOarchist@pawb.social 1 points 6 hours ago

Well, in general, yes.

But these multiple different Trump-coins ... they're just fraud and grift. They serve as psuedo-legal ways for rich people to buy political influence, and they serve as ways to extract more money from their idiot followers.

Other forms of crypto -- forms that are actually trying to grow and be traded -- are indeed ponzi schemes and gambling. But Trumpcoins don't even rise to that level.