Former U.S. President Donald Trump-Linked Crypto Venture World Liberty Financial Launches New Stablecoin USD1

A cryptocurrency venture linked to former U.S. President Donald Trump, World Liberty Financial, has launched a new stablecoin called USD1.

Former U.S. President Donald Trump's cryptocurrency venture, World Liberty Financial, has unveiled a new stablecoin called USD1, directly linked to the U.S. dollar.

The token, which went live on March 4 with an initial supply exceeding $3.5 million, is pegged 1:1 to the USD and deployed on both the Ethereum and BNB Chain. It is not yet tradeable.

The launch was acknowledged by former Binance CEO Changpeng "CZ" Zhao, who expressed enthusiasm for the project and its potential.

The debut comes as U.S. lawmakers are set to consider new stablecoin regulations. The GENIUS Act, which recently advanced through the Senate Banking Committee, could reach Trump's desk by June.

Founded in September 2024, World Liberty Financial maintains a veil of secrecy, with minimal information available on its website.

The project, which is focused on developing a new financial system, has already raised a significant sum of $550 million through two public token sales.

Rumors have also emerged of potential negotiations between the Trump family and Binance, ranging from a potential stake in the exchange to a possible pardon for Zhao. However, CZ has since refuted these claims.

The launch of USD1 adds a unique political dimension to the unfolding crypto regulatory narrative.