- Fighters at the UFC event on the White House lawn received up to $250,000 in bonuses via the World Liberty Financial stablecoin USD1.
- The price of USD1 rose above its $1 peg after the partnership was announced, with 24-hour trading volume surging over 93% to $2.38 billion.
- The event and its sponsorships have drawn significant controversy, with critics citing the $60 million cost and potential conflicts of interest for President Trump.
- World Liberty, co-founded by the Trump family, is also engaged in a legal dispute with Tron founder Justin Sun over frozen tokens.
Fighters competing in Sunday’s Ultimate Fighting Championship (UFC) event on the White House lawn were paid bonuses using a stablecoin issued by the Trump family’s crypto company, World Liberty Financial. The “UFC Freedom 250” event, part of the country’s semiquincentennial celebrations, was reportedly priced at $60 million.
World Liberty confirmed that UFC would distribute up to $250,000 in bonuses via its USD1 stablecoin. Consequently, the price of USD1 jumped above its $1 peg on June 12, according to CoinMarketCap data.
Trading volume for USD1 soared more than 93% in 24 hours, reaching $2.38 billion. The event’s sponsors also included Polymarket and crypto.com, which offered $1 million in bonuses with its Cronos token.
However, the spectacle faced strong criticism from many in Congress over its cost. Democrats also highlighted potential conflicts of interest, as President Trump’s financial disclosures listed his World Liberty holdings as worth over $50 million.
Jaelin O’Halloran, a spokesperson for the Democratic National Committee, said “Trump never misses an opportunity to use the power of the presidency to make himself and his family even richer.” White House spokesperson Davis Ingle countered that the president’s assets are in a trust managed by his children.
Meanwhile, World Liberty faces a lawsuit from Tron founder Justin Sun, who alleges the company froze his tokens without justification. Sun remains a supporter of Trump and his crypto policies despite the legal dispute.
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