USD1: The New Trump Family-Linked DeFi Platform Stablecoin

The DeFi platform linked to the Trump family has reportedly launched a new dollar-based stablecoin according to public blockchain data.

The DeFi platform linked to the Trump family, World Liberty Financial (WLFI), has reportedly launched a new dollar-based stablecoin.

According to public blockchain data, the new token, USD1, is already live on Ethereum and Binance blockchains.

Although not yet announced, the new stablecoin is already attracting attention, especially after former Binance CEO Changpeng Zhao posted on X about the new token, warning investors that the official USD1 token is not tradeable yet, hinting that other tokens under the same name are likely scam assets.

suggesting a connection to the Trump family through World Liberty Financial, no official confirmation has been made.

So far, neither Binance nor World Liberty Financial have commented about the new token. Meanwhile, the cryptocurrency community is already making assumptions about the new stablecoin.

Why Would WLFI Launch a Stablecoin?

Since its launch, World Liberty Financial has been rapidly expanding its influence and holdings in the cryptocurrency space. Tackling into the stablecoin business is not only strategically valuable but also a way to add a significant revenue stream to the platform.

Stablecoins have become essential to investors’ activities, offering a reliable and less volatile way to transfer and swap cryptocurrencies. The alleged USD1 stablecoin issued by WLFI could allow the foundation to earn interest on reserves held in cash, fees, and even lending and partnerships.

Trump’s Campaign Repeatedly Emphasized the Importance of a “Dollar Strong” Cryptocurrency

Throughout the 2024 campaign, then-candidate Donald Trump repeatedly emphasized the need to leverage the U.S. Dollar in the blockchain.

This emphasis on a “Dollar Strong” cryptocurrency aligns with Trump’s broader economic vision, particularly in the face of growing global challenges to the dollar’s dominance. During the July 2024 Bitcoin Conference in Nashville, Trump highlighted the urgency for America to lead in adopting blockchain and Bitcoin technologies.

He warned, “If we don’t embrace crypto and Bitcoin technology, China and other countries will. They’ll dominate, and we cannot let China dominate.”