World Liberty Financial officially recognized its Stablecoin USD1 following a discovery of the community yesterday. The project is likely to try to take advantage of Trump’s “Dollar Dollar domination and capture the American market share.
However, WLFI said that its stable reserves would contain other cash equivalents, but its token assets currently contain more than $ 111 million in unrealized losses.
World Liberty Financial enters the Stablescoin market
World Liberty Financial (WLFI), a token project strongly affiliated with the Trump family, recently made serious movements.
Two weeks ago, there were serious allegations that WLFI would buy participation in Binance and that the two would launch a new stablecoin. Today, at least part of this prediction has come true with USD1:
“WLFI has announced today its intention to launch USD1, an exchangeable 1: 1 stablecoin for the US dollar. The USD1 WLFI will be 100% supported by short -term US government treasures, US dollar deposits and other cash equivalents.
Although WLFI’s new stablecoin is from BSC, Binance’s real participation remains clear. Yesterday, Crypto detectives noted that USD1 had been struck 20 days ago and that the Wintermute market manufacturer had exchanged with him.
Changpeng “CZ” Zhao, a former CEO of Binance, may have demonstrated knowledge of the initiates of the project, but it was not clear.
Today, however, CZ has again teased its involvement. He responded to the ads of Stablecoin WLFI with an emoji of the eyes, suggesting interest in the project without committing to anything to do.
WLFI, for its part, did not comment more on a possible Binance partnership, and its token reserves are kept with Bitgo.
On the one hand, it could be a great opportunity for the crypto. Trump recently announced that Stablecoins will play a central role in promoting dollar domination worldwide, and WLFI could participate in this initiative.
Tether can also be part of the biggest plan for “Dollar Dollar Stablecoin”, but Wlfi beats it in punch.
“USD1 provides… access to the power of DEFI underpins by the credibility and the guarantees of the most respected names in traditional finance. We offer a stablecoin to a digital dollar that sovereign investors and large institutions can be confused with confidence in their strategies, “said Steve Witkoff, co -founder of WLFI and Trump diplomatic envoy.
Overall, the Trump family has been involved in several cryptographic projects lately. Yesterday, Trump Media announced a partnership with Crypto.com, with plans to launch several ETFs.
In his declaration, WLFI said that its Stablecoin reserves will include “other cash equivalents” without further development. The company said it will allow third -party accounting firms to make regular audits, just like Tether, no real audit took place in both cases.
Although WLFI has completed its sale of tokens, its portfolio contains more than $ 111 million in unrealized losses thanks to other cryptographic investments. The company is a prolific investor in various token projects; Will he use these assets to build the reserves of the USD1? These questions remain unanswered in the launch announcement.
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