By Tom Wilson, Tom Bergin, Lawrence Delevingne and Michelle Conlin LONDON/NEW YORK (Reuters) - As World Liberty Financial raised more than half a billion dollars, President Donald Trump’s family took control of the crypto venture and grabbed the lion’s share of those funds,

World Liberty Financial, a cryptocurrency project backed by President Donald Trump’s family, announced plans for a stablecoin pinned to the U.S. dollar, just days after the president called on Congress to pass “commonsense” legislation to regulate that type of digital asset.

The token will backed by short-term U.S. government Treasurys, U.S. dollar deposits, and other cash equivalents, the company said.