Eric Trump Claims USD1 Stablecoin Surpasses PayPal's PYUSD
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: Benzinga
- Stablecoin Market Milestone: Eric Trump announced that the USD1 stablecoin has surpassed PayPal's PYUSD in market capitalization, indicating rapid growth for the decentralized finance platform World Liberty Financial and marking a significant milestone in the cryptocurrency market.
- Airdrop Incentive Program: Binance has announced a $40 million WLFI token airdrop for USD1 holders, running from Friday to February 20, aimed at attracting more users through weekly distributions and a 1.2× bonus for collateralized holdings.
- Family Ownership Background: The Trump family holds a 60% stake in World Liberty Financial, ensuring they receive 75% of revenue from token sales, highlighting their substantial influence and strategic positioning in the decentralized finance sector.
- Regulatory Investigation Calls: Senators Elizabeth Warren and Jack Reed have called for an investigation into World Liberty Financial, alleging it sold tokens to businesses linked to North Korea and Russia, although Eric Trump dismissed these claims as 'absolutely laughable'.
Analyst Views on ABTC
Wall Street analysts forecast ABTC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ABTC is 4.00 USD with a low forecast of 4.00 USD and a high forecast of 4.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 1.560
Low
4.00
Averages
4.00
High
4.00
Current: 1.560
Low
4.00
Averages
4.00
High
4.00
About ABTC
American Bitcoin Corp., formerly Gryphon Digital Mining, Inc., is a Bitcoin accumulation company. The Company's operations include bitcoin mining sites, bitcoin mining pools, and protection of bitcoin assets. The Company operates Bitcoin Miners at four sites under Master Colocation Services Agreement (MCSA): Alpha (Niagara Falls, NY); Salt Creek (Orla, TX); Medicine Hat (Medicine Hat, AB), and Vega (Texas Panhandle). It receives Bitcoin mining rewards from its mining activity through third-party mining pool operators, Foundry and Luxor. Mining pools allow Bitcoin miners to combine their processing power, increasing their chances of solving a block and getting paid by the network. It provides computing power to mining pools, which use this computing power to operate nodes and validate blocks on the blockchain. It uses third-party custody solutions, including Coinbase Custody and Anchorage Digital Bank N.A., to safeguard its Bitcoin, mainly in cold storage wallets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
