- WLFI launched the USD1 stablecoin on Ethereum and Binance’s BNB Chain, pegged to the US dollar.
- The USD1 launch followed rumors that the Trump family might acquire a stake in Binance, sparking speculation about a presidential pardon for former CEO Changpeng Zhao, which was quickly denied by Zhao.
- The release of USD1 coincides with the US Congress evaluating the GENIUS Act.
World Liberty Financial, the decentralized finance venture backed by US President Donald Trump, has introduced a new stablecoin, USD1. The token is pegged to the US dollar and is designed to serve as a digital representation of the dollar. USD1 is currently available on both the Ethereum and Binance BNB blockchains, though it is not yet tradable.
USD1 Stablecoin Launch
WLFI launched USD1 in early March 2025, but it has not issued an official announcement regarding the coin’s release. The news broke when Changpeng ‘CZ’ Zhao, the former CEO of Binance, shared a link to the USD1 token on social media. This led to WLFI’s official X channel confirming the token’s existence.
However, WLFI cautioned that the coin is “not currently tradable” and advised users to be vigilant against potential scams. The launch of USD1 on the Binance BNB Chain coincided with rumors suggesting that the Trump family had discussed acquiring a stake in Binance.
These reports speculated that such a deal could involve a potential presidential pardon for Zhao. However, Zhao swiftly denied the rumors, stating that no such business discussions had taken place. He also dismissed a Wall Street Journal article that he claimed attacked both President Trump and the cryptocurrency industry.
Stablecoin Regulation and the GENIUS Act
The launch of USD1 occurs at a time when the US Congress is evaluating new legislation that could affect stablecoins. Specifically, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act has passed through the Senate Banking Committee.
Industry experts predict that the bill could reach President Trump’s desk by June 2025. This legislation could significantly impact the future of projects like USD1, particularly as regulators explore the integration of stablecoins into the broader financial system.
As of now, the USD1 token has a total supply exceeding $3.5 million. WLFI has already completed two public token sales, raising a total of $550 million. Despite the project’s funding successes, much about WLFI remains undisclosed.
