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Breaking News: Celsius Founder Alex Mashinsky Receives 12-Year Prison Sentence

World Liberty Financial Unveils USD1: A New Stablecoin In Trump’s Growing Crypto Portfolio

Ronaldo Marquez
Ronaldo Marquez
1 month ago
3 mins read
World Liberty Financial

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Este artículo también está disponible en español.

According to recent reports, President Donald Trump’s crypto venture, the decentralized finance (DeFi) platform World Liberty Financial (WLFI), has unveiled a new stablecoin called USD1. 

This token, pegged to the US dollar, is now live on the Ethereum (ETH) and Binance blockchains, although the launch was not officially announced by the company on Monday March 24.

World Liberty Financial Launches New Stablecoin

The news comes via a report from Fortune, which highlights the expanding crypto portfolio of the President, now serving his second term in the White House’s Oval Office. 

On social media, Changpeng Zhao, the former CEO of Binance, shared a link to the USD1 token with his 10 million followers on X, prompting World Liberty Financial to implicitly confirm its legitimacy. However, the company cautioned that USD1 is not currently tradable and warned users to be vigilant against potential scams.

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Stablecoins such as USD1 are becoming increasingly prominent in the crypto market, with notable traction in the US Congress, where lawmakers have introduced several bills to further support the sector.

Major players such as Tether, the issuer of the world’s largest stablecoin, USDT, reported $13 billion in profit for 2024, while Circle, the company behind USDC, is planning to go public. 

These companies back their stablecoins with US treasuries, allowing them to earn significant yields, which has proven lucrative given their relatively low operational costs compared to traditional corporations.

Ethical Concerns Arise

World Liberty Financial, announced in August, is part of Trump’s broader foray into the cryptocurrency world, which also includes non-fungible tokens (NFTs) and a memecoin named after the President, TRUMP. 

The project is positioning itself within the decentralized finance sector, which aims to replicate traditional banking services—such as lending and borrowing—on blockchain platforms. However, details about the project’s specific offerings remain vague, with little information available on their website.

The project’s “gold paper” outlines ambitions to create a comprehensive hub for various DeFi applications, including decentralized lending platforms and crypto exchanges. Trump himself holds the title of “Chief Crypto Advocate” for World Liberty Financial, underscoring his involvement in the initiative.

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In a show of investor confidence, the project recently announced it had raised $550 million in token sales, attracting attention from various stakeholders, including Trump family members and loyalists. 

Barron, Eric, and Donald Jr. have been designated as World Liberty Financial’s “Web3 Ambassadors,” while real estate magnate Steve Witkoff and his sons are listed as co-founders alongside DeFi developers Zak Folkman and Chase Herro, who previously faced challenges with their project, Dough Finance, which suffered a $2 million hack.

Despite the enthusiasm surrounding the project, it has raised ethical concerns among experts, particularly regarding the potential for influence peddling. 

Critics have pointed to instances like Justin Sun’s public purchase of $75 million worth of World Liberty Financial tokens, suggesting that such activities could blur the lines of regulatory compliance.

World Liberty Financial
The daily chart shows TRUMP’s price trending downwards. Source: TRUMPUSDT on TradingView.com

At the time of writing, TRUMP memecoin is trading at $11.58, down 30% on a monthly time frame and 84% off its current record high of $73.43 reached on the same day of its debut on January 19.

Featured image from DALL-E, chart from TradingView.com 

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Ronaldo Marquez
Ronaldo Marquez

Ronaldo Marquez

Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.

Read more

Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.

Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.

One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.

Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities.

Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth.

However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape.

Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge.

With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.

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Reason to trust

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