The crypto venture tied to Donald Trump and his family, World Liberty Financial, has launched its own stablecoin called USD1. The token is designed to maintain a one-to-one peg with the U.S. dollar and is set to be backed by short-term Treasury bills and other cash equivalents.

Fidelity Investments is seeking regulatory approval to list a solana exchange-traded fund (ETF), becoming the latest major financial institution to pursue a product tied to the cryptocurrency.

Ripple Labs has agreed to settle a civil lawsuit with the U.S. Securities and Exchange Commission (SEC) for $50 million, bringing one of the agency’s most closely watched crypto enforcement actions to a close.

Top stories in the Crypto Roundup today:

• Trump-Linked Crypto Venture Launches USD1 Stablecoin
• Fidelity Investments Seeks Approval to Launch Solana ETF
• Ripple Reaches Settlement With SEC for $50 Million

Trump-Linked Crypto Venture Launches USD1 Stablecoin

The crypto venture tied to Donald Trump and his family, World Liberty Financial, has launched its own stablecoin called USD1. The token is designed to maintain a one-to-one peg with the U.S. dollar and is set to be backed by short-term Treasury bills and other cash equivalents.

The project arrives as Washington lawmakers debate legislation that could set clearer rules for stablecoins, which now account for over $230 billion in circulation globally. Earlier this year, Trump signed an executive order promoting the use of regulated, dollar-backed stablecoins, calling them a tool to defend U.S. currency sovereignty.

Data from Etherscan and BscScan shows that the cryptocurrency already has a supply of over $3.5 million and was deployed on both the BNB Chain and Ethereum. World Liberty has said the token is “not currently tradable.”

 World Liberty Financial has already raised over $1 billion from token sales, though its tokens offer little in terms of governance or financial rights.

Fidelity Investments Seeks Approval to Launch Solana ETF

Fidelity Investments is seeking regulatory approval to list a solana exchange-traded fund (ETF), becoming the latest major financial institution to pursue a product tied to the cryptocurrency.

The Cboe Exchange filed a 19b-4 filing to list a solana ETF proposed by the $5 trillion asset manager. The move follows the registration of the Fidelity Solana Fund in Delaware last week. However, Fidelity still needs to file an S-1 form with the Securities and Exchange Commission (SEC), a required step before the fund can begin trading publicly.

Asset managers including VanEck, Grayscale and Franklin Templeton have also filed applications for Solana-based funds. The timing of Fidelity’s filing comes just after two Solana futures ETFs — SOLZ and SOLT — began trading on Nasdaq, indicating growing regulatory momentum for Solana-linked investment products.

Ripple Reaches Settlement With SEC for $50 Million

Ripple Labs has agreed to settle a civil lawsuit with the U.S. Securities and Exchange Commission (SEC) for $50 million, bringing one of the agency’s most closely watched crypto enforcement actions to a close.

The proposed settlement would resolve claims that Ripple violated securities laws by selling $728 million worth of XRP to institutional investors without registering the token as a security. The agreement, which still requires approval from both the SEC and a federal judge, reduces a previously imposed $125 million fine to less than half.

Ripple’s chief legal officer, Stuart Alderoty, announced the settlement on X. He confirmed that the regulator will keep funds held in escrow and earning interest, as part of the $125 million penalty imposed by U.S. District Judge Analisa Torres in August, would satisfy the penalty. The company continues to deny wrongdoing.

The case stems from a 2020 lawsuit in which the SEC alleged that Ripple’s sales of XRP qualified as unregistered securities offerings. A judge last year ruled that XRP sold on public exchanges did not meet that definition, but sided with the SEC on the institutional sales. Ripple had appealed that portion of the decision but said Tuesday it would drop the appeal.

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