Crypto observers speculated on Monday that World Liberty Financial (WLFI), the decentralized finance platform (DEFI) supported by US President Donald Trump and his family, could test his stablecoin to a long-awaited dollar before deploying for the wider audience.
Blockchain detectives earlier in the day noted a wave of activities with an labeled token like USD Financial World Liberty (USD) on Blockchain Etherscan and BSCSCAN Blockchain Surveillance websites. Blockchain’s data show that the USD1 was deployed earlier this month on Ethereum and BNB chain networks and transactions with the token in the past two weeks.
Certain transfers included addresses linked to Wintermute, a large digital asset trading company and a market manufacturer and a Crypto Bitgo goalkeeper, according to data from Arkham Intelligence. The supply of the token is currently amounted to around 3.5 million to 3.5 million on the Ethereum and BNB channel, by etherscan and BSCSCAN.
Changpeng Cz Zhao, founder of the giant of the Crypto Binance exchange, attracted generalized attention to the token by “welcoming” the project on the BNB channel in an article with a screenshot of the BSCSCAN USD profile shared with its 10 million followers. The post, he said later, triggered a wave of copy cats aimed at capitalizing on new attention.
WLFI, reacting in a post X, said that the USD1 is not currently available for trading operations and that crypto users should be wary of scams.
Lurge in the face
WLFI, a project led by Zachary Folkman and Chase Herro, caused a sensation last year as one of the first crypto projects enjoying Trump’s support. The protocol aims to provide a blockchain-based market where users can borrow and lend cryptocurrencies, create liquidity pools and compromise with stablescoins.
It has been widely known that the project is working to develop its own stablecoin, but there was no official communication on the exact levels and the launching of the token publicly. Coindesk contacted the team, but received no response.
Stablecoins are one of the fastest growth corners in the cryptographic industry and widely considered as the use of the killer for blockchains. With their prices set for an external asset, mainly to the US dollar, they are widely used as a pair of cryptographic trading and transactions on blockchain rails. They are also increasingly used for daily payments, funding and savings, attracting the attention of many venture capital investors.
The buzz around the asset class has rejuvenated in recent months while the Trump administration has raised the stable stable regulations at the top of its crypto program. The Treasury Secretary, Scott Bessent, said that stablecoins have a key role in preserving the world role of the US dollar as a reserve currency.
