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Cryptocurrency News Articles
World Liberty Financial USD (USD1) stablecoin appears on the BNB Chain
Mar 25, 2025 at 04:41 pm
Cryptocurrency market observers noticed the presence of a stablecoin called World Liberty Financial USD (USD1)
Cryptocurrency market observers noticed the presence of a stablecoin called World Liberty Financial USD (USD1) on the BNB Chain.
What Happened: As per Binance co-founder Chanpeng Zhao's X post on Monday, the smart contract tied to the USD1 token was deployed 20 days ago.
According to the contract details, the coin had a maximum total supply of 3,500,680. On-chain data revealed that cryptocurrency market maker Wintermute had run a few test transfers with USD1.
I was told since this post, a lot of scammers created coins with the same name. The official USD1 is not yet tradable yet.
Please do not fall for the scams. 🙏https://t.co/MU2nmrIts7
Zhao's post sparked a rush of meme coin launches under the same name, prompting him to clarify that the official USD1 was not yet available for trading.
Interestingly, World Liberty Financial quoted Zhao's response, saying, "USD1 is not currently tradiable. Beware of scams and follow us here for all official announcements."
Related Link: Bitcoin Arms Race: Peter Schiff Doubts Cynthia Lummis' Theory That China Wants To Take On US — ‘Smart Enough To Have Sold'
Why It Matters: World Liberty Financial, backed by President Donald Trump, has focused on promoting dollar-backed stablecoins and decentralized financial applications.
The project was launched last year to allow users to borrow, lend, and earn interest on funds through the DeFi route. WLFI raised over $590 million by selling its governance token, WLFI.
Well-known cryptocurrency figures, including Tron founder Justin Sun, have invested in the project. Sun was appointed as the project's advisor.
WLFI has been aggressively promoted by Trump and his family. A firm associated with the President, DT Marks DEFI, LLC, stands to receive 75% of the protocol revenue.
See Also: Donald Trump's New Venture: World Liberty Financial Rolls Out USD1 Stablecoin On BNB Chain
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