WLFI pays $250K in bonuses for White House UFC event with USD1 stablecoin

World Liberty Financial (WLFI) paid out $250,000 in bonuses for a UFC event at the White House using its proprietary stablecoin, USD1, The Block reported. The stablecoin has grown to a circulating supply and market capitalization of $4.4 billion. WLFI is actively seeking to enter the regulatory fold, having applied to the U.S. Office of the Comptroller of the Currency (OCC) to establish a bank. However, the company is also facing a congressional investigation amid a conflict-of-interest controversy involving the presidential family's profits from cryptocurrency ventures and allegations of capital inflows from the Middle East.