I view $USD1 with a certain level of caution. First, any stablecoin that claims to be “fiat-backed” but doesn’t provide clear and transparent information about its reserves is already a risk. Second, the association with a political figure like Trump automatically brings additional risks from regulatory pressure to reputational instability. We’ve already seen similar “hyped” initiatives launch with big promises and end either in collapse or legal trouble.
There's a point there.. but it's the Trump family from what I hear and they hold a considerable amount of stake on the token. Anyways it has gone up to top5 stablecoin so that's something..
It's also trading on T1 exchanges rn like Bitget, Binance. If they could refine and probably include some innovative features . They could thrive really hard and even rival other stablecoins imo