Remember the Sunday UFC event at the White House?
World Liberty Financial will play a key role in UFC® FREEDOM 250 as the Presenting Partner of a new $250,000 Performance of the Night bonus pool, which will be awarded to UFC athletes selected for standout performances during the event.
The bonuses will be paid in USD1, World Liberty Financial’s U.S. dollar-backed, compliant stablecoin and one of the fastest-growing stablecoins on the market. USD1 bonuses will be awarded in addition to the traditional Performance of the Night bonuses presented to athletes by UFC President and CEO Dana White following the event. The USD1 payout will be awarded independently of the previously announced Crypto.com $1 million bonus pool, which goes to the two athletes who compete in the Fight of the Night. [businesswire]
I hope the fighters, or whoever is in charge of their financial planning, immediately converted the cryptocurrency to dollars. Yes, yes, I know: stablecoins … but …
Despite the name, stablecoins are not necessarily stable. Stablecoins rely on stabilization tools such as reserve assets or algorithms that match supply and demand to try to maintain a stable value. [Wikipedia]
