Trump-linked stablecoin used for UFC bonuses at White House event
Fortune reported that UFC winners at a White House event were paid in USD1, a stablecoin issued by World Liberty Financial.
By Hana Yoshida · Markets Reporter
3 min read
UFC fighters who won bonuses at a White House event received their payouts in USD1, a stablecoin tied to President Donald Trump’s family business, Fortune reported. The arrangement has drawn ethics scrutiny because the token is issued by World Liberty Financial, a crypto venture connected to Trump’s family and associates.
Fortune reported that the bonuses followed the Ultimate Fighting Championship Freedom 250 event on the White House South Lawn. The outlet said the winners received record bonuses, though UFC did not immediately answer Fortune’s questions about which fighters were paid in USD1 or how much they received.
Richard Painter, who served as chief White House ethics lawyer during the George W. Bush administration, told Fortune that the setup would raise serious legal problems for many federal officials. Painter pointed to 18 U.S.C. § 208, a federal criminal conflict-of-interest law that applies to most executive branch employees.
Under that statute, Painter told Fortune, covered officials cannot take part in government matters that they know would affect their own financial interests or those of certain people or entities close to them. Painter said a Treasury secretary with a financial stake in World Liberty Financial who participated in a government matter affecting the company would likely face felony exposure.
The law does not apply to the president, vice president or members of Congress, Fortune reported, citing Painter’s analysis. That exemption is the gap Painter identified in the White House UFC arrangement involving USD1.
World Liberty Financial issues USD1, according to Fortune. Stablecoins are crypto tokens designed to track the value of a government currency, and Fortune reported that USD1 is backed by cash, U.S. Treasuries and other cash-like assets.
Fortune reported that stablecoin issuers can earn interest on the reserves that back their tokens. As more tokens circulate, those reserves can become a revenue source for the issuer.
World Liberty Financial was founded in 2024 by members of Trump’s family and close business associates, according to Fortune. The company’s “gold paper,” cited by Fortune, listed Trump, his three sons, Middle East special envoy Steve Witkoff and Witkoff’s two sons as co-founders.
Fortune reported that the document says Trump and Witkoff were removed from the listed team after they entered government service. Trump has stepped away from formal governance at the company, according to Fortune.
Trump’s latest financial disclosure, released Saturday, showed more than $57.3 million in income from sales of World Liberty’s governance token, Fortune reported. The outlet also reported that USD1, launched in 2025, now has circulation measured in the billions of dollars and can generate tens of millions of dollars annually for World Liberty through interest on reserves.
The White House did not immediately respond to Fortune’s questions about whether officials reviewed possible conflicts before allowing a Trump-linked stablecoin to be used at the event. UFC also did not immediately respond to the outlet’s questions about the payouts.
This story draws on original reporting from Fortune.