Binance.US to Start Trading USD1 and WLFI Tokens on Oct. 29
Binance.US will begin trading for World Liberty Financial's USD1 and WLFI tokens on October 29. Deposits for these tokens opened on October 28.
USD1 is a stablecoin pegged to the U.S. dollar, backed by regulated reserves including U.S. Treasuries.
The listing coincides with political controversy over a pardon granted to Binance founder Changpeng Zhao by former President Trump on October 23.
Senators Elizabeth Warren and Adam Schiff announced legislation to condemn the pardon, citing financial ties between Binance and Trump's crypto ventures as corrupt.
Zhao previously pled guilty to failing to maintain adequate anti-money laundering measures at Binance, with accusations of facilitating transactions linked to Hamas and Al Qaeda.
Representative Ro Khanna introduced a bill to ban certain government officials from trading cryptocurrencies or stocks.
World Liberty Financial's USD1 stablecoin was used in a $2 billion investment in Binance by a UAE-backed firm. Allegations surfaced that Zhao financed Trump's cryptocurrency activities for the pardon.
The WLFI token experienced a surge of over 20.72% following the pardon announcement.
World Liberty Financial is operated by Donald Trump Jr. and Eric Trump.
The White House defended the pardon as ending "politically motivated prosecution" against crypto innovators, though the Warren-Schiff resolution is not expected to pass the Senate.
