The team behind USD1, the fast -growing stablecoin launched by the DEFI Liberty Financial project linked to the Trump family, has lagged behind the update of its monthly certificate reports, a critical transparency measure for investors and regulators, according to NYDIG.
In early October, the most recent report available from July. This delay puts USD1 in exceeding with competitors like USDC de Circle, which published reserve data until August, and Tether, which reports Quarterly, Greg Cipolaro, World Research Manager in Nydig, in a report.
“For a USD1 stature project, up -to -date orders are not negotiable,” wrote Cipolaro.
Coindesk contacted Bitgo and World Liberty Financial for Comments, but did not hear at the time of the editorial staff.
Bitgo connection
While Bitgo Trust oversees stablecoin reserves, the transmitter, Bitgo Technologies, did not explain the gap in the reports. Laps laps is notable given the growing profile of the USD1 and $ 2.7 billion in supply, he noted.
At the same time, the distribution of USD1 tokens suggests that most of its traction is offshore. Nydig says that its analysis of upper portfolios shows that around 78% of the offer is in the addresses linked to exchanges abroad.
For the future, the structure of the USD1 can conflict with the act of incoming engineering. The law, supposed to take effect by the beginning of 2027, limits the emission of stablecoin to the subsidiaries of regulated banks or of the entities qualified by the State.
NYDIG also said that BitGO Technologies currently does not appear in the category of regulated banks or qualified entities, which means that structural changes may be necessary, Cipolaro wrote.
