World Liberty Financial Unveils USD1: A New Stablecoin In Trump’s Growing Crypto Portfolio
President Donald Trump’s crypto venture, World Liberty Financial (WLFI), has launched a new stablecoin called USD1, pegged to the US dollar, now available on Ethereum and Binance blockchains. The launch was not officially announced, but former Binance CEO Changpeng Zhao confirmed its legitimacy on social media. USD1 is not currently tradable, and users are warned about potential scams. The stablecoin market is gaining traction in the US Congress, with significant profits reported by major players like Tether and Circle. World Liberty Financial aims to replicate traditional banking services in the decentralized finance sector, though details remain vague. The project raised $550 million in token sales, with Trump family members involved as “Web3 Ambassadors.” Ethical concerns have emerged regarding influence peddling, particularly following a $75 million token purchase by Justin Sun. The TRUMP memecoin is currently trading at $11.58, down significantly from its debut high.
