US Treasury Secretary Scott Bessent was sharply questioned today by the House Financial Services Committee about Trump-affiliated World Liberty Financial (WLFI) and its new USD1 stablecoin. Congressional Democrats questioned Bessent whether no-interest stablecoins linked to Trump’s crypto ventures could mask hidden subsidies. Bessent Scrutinized Over President Trump’s World Liberty Financial World Liberty Financial, founded in 2024 with close Trump‑family ties, raised about $550 million in late 2024 by selling its governance token. The Trump family is entitled to roughly 75% of net revenues
source: https://beincrypto.com/treasury-bessent-trumps-world-liberty-financial-usd1/