Wall Street Bigwigs (& Nicki) Flock to Mar-a-Lago as Trump’s USD1 Stablecoin Eyes a $15T Takeover

Yesterday's event at Mar-a-Lago was the Super Bowl for crypto bros…

On Wednesday, the chandeliers were glowing a little brighter in Palm Beach. World Liberty Financial, the Trump family’s crypto venture (they reportedly hold a 38% stake), gathered Wall Street royalty, federal regulators, senators, and who could forget… Nicki Minaj… for a summit one speaker dubbed the “power center of the universe.” (Calm down bro, you buy Bitcoin for a living).

(Source: New York Post)

So what was the big reveal? 

First, a partnership with Apex Group, a $3.5 trillion-assets-serviced financial giant. The goal is to help mainstream World Liberty’s dollar-backed stablecoin, USD1… currently the fifth-most-used stablecoin, trailing the big dogs like Tether.

Apex CEO Peter Hughes called it an “inflection point,” saying stablecoins could balloon to $15-20 trillion in corporate balance sheet use. If that pie gets sliced the right way, USD1 HODLers could have their hands on a goldmine.

And being the real estate mogul Donnie is, they’re also planning to use USD1 to finance a new Trump-branded hotel in the Maldives… complete with luxury floating villas. Translation: please buy our coin so we can get rich, thank you.

(Source: CNBC)

The guest list looked like someone accidentally merged Davos with a UFC afterparty. Proud DJ and Goldman Sachs top boss, Adena Friedman (Nasdaq), Lynn Martin (NYSE), and even Changpeng Zhao (freshly pardoned after his 2023 Bank Secrecy Act plea) were all in attendance.

Zhao’s Binance currently holds roughly 87% of the $5B+ USD1 in circulation. Four months post-pardon, he’s shaking hands on the patio. Only in America.

Regulators showed up too. Kelly Loeffler delivered a defiant speech about standing in the truth, while CFTC Commissioner Michael Selig talked about “seizing the moment” in financial innovation.

Meanwhile, Nicki Minaj used her mic time to shout out her nail company and recount leaving the Oval Office “merch room” with a signed Trump Bible, scarves, and perfume. Sadly, the crowd was robbed of a surprise “Starships” performance.

(Source: Washington Times)

Of course, not everyone’s clapping.

On the other side of the aisle (read: the Democrats), critics immediately cried conflict of interest, noting that an estimated $1 billion has already reached the first family through World Liberty. The Wall Street Journal detailed a $500 million investment from UAE-linked entities ahead of the inauguration, with additional Binance and G42 connections raising fresh questions.

But controversy has never exactly slowed the Trump orbit.

So here we are… watching a room full of people who once called Bitcoin a scam now calling it the future.

You truly cannot script this.

At the time of publishing this article, Stocks.News holds positions in Bitcoin and Ethereum as mentioned in the article.