- Blockchain data suggests World Liberty Financial, linked to the Trump family, launched USD1 stablecoin on Ethereum and Binance networks without official confirmation
- Former Binance CEO Changpeng Zhao warns USD1 is not tradeable yet, cautioning against potential scams under the same name
- Trump’s 2024 campaign emphasized leveraging blockchain to strengthen the U.S. dollar, aligning with WLFI’s mission to drive stablecoin adoption and ensure dollar dominance in decentralized finance
The DeFi platform linked to the Trump family has reportedly launched a new dollar-based stablecoin according to public blockchain data. Although not publicly announced, the new token “USD1” is already live on Ethereum and Binance blockchains.
Adding weight to the assumptions of a new Trump-backed stablecoin, 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.
While blockchain data suggests 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.”
