Trump Family’s Crypto Venture Says It Faced ‘Coordinated Attack’

World Liberty Financial, the digital-asset venture backed by the Trump family, said that it defeated an unspecified “coordinated attack” against its flagship cryptocurrency product.

USD1, the dollar-pegged stablecoin issued by World Liberty, briefly traded below $1 on Monday before climbing back to par, according to crypto data tracker CoinGecko. Stablecoins are typically designed to trade equal to the dollar to provide users with a stable medium of exchange and to serve as a store of value within the highly volatile crypto market.

The stablecoin, which as about $5 billion market value, is the first product launched by the crypto ...