1. United States
2. Maine
3. Letter

I am writing to strongly urge you to reject the approval of the USD1 stablecoin, a project launched by World Liberty Financial (WLFI) and heavily tied to the Trump family. While stablecoins can have economic merits, the approval of USD1 would disproportionately enrich Donald Trump and his relatives at the expense of our nation’s integrity, financial stability, and fairness. This cannot be allowed to proceed.Unacceptable Personal EnrichmentThe Trump family’s deep involvement in WLFI is alarming. They own a 60% equity stake and are set to receive 75% of the revenue from token sales, which have already raised $550 million. Approving USD1 would funnel immense profits directly to the Trumps, leveraging political influence for personal gain. This blatant self-dealing undermines the trust Americans place in their government and risks violating ethical standards meant to prevent such conflicts.Dangers to Financial StabilityBeyond personal enrichment, USD1 poses real threats to our economy. Stablecoins can collapse if not tightly regulated—look at TerraUSD’s 2022 failure, which erased $42 billion overnight. USD1’s reserves could be mismanaged, especially if political ties shield it from scrutiny. Approving it would gamble with Americans’ financial security to pad the Trump family’s wealth.Unfair Advantages and National RisksThe Trumps’ influence could skew regulations in WLFI’s favor, crushing fair competition in the stablecoin market. Other innovators would be sidelined, all to benefit a politically connected family. Worse, foreign actors could exploit USD1 to sway U.S. policy through the Trumps, threatening national security. Approval would prioritize their profits over our sovereignty.A Plea to Protect the PublicI recognize stablecoins might boost growth or inclusion, but these vague promises don’t justify enriching the Trumps at our expense. Congress must block USD1 and demand ironclad rules to prevent political insiders from profiting off public policy. The risks—ethical breaches, economic instability, and compromised fairness—far outweigh any upside skewed toward one family.Please act decisively to stop this approval. Put the American people first, not the Trumps.