World Liberty Financial Tests Dollar Stablecoin Amid Speculation of Launch
Speculation surrounds World Liberty Financial (WLFI), a DeFi platform linked to Donald Trump, as it appears to be testing its dollar stablecoin, World Liberty Financial USD (USD1). Key points include:
- USD1 has been deployed on Ethereum and BNB Chain, with activity tracked by blockchain monitoring sites.
- Current supply of USD1 is approximately 3.5 million tokens across both networks.
- Transactions involve addresses associated with Wintermute and BitGo.
- Binance founder Changpeng Zhao highlighted the token on social media, increasing visibility.
- WLFI warns that USD1 is not available for trading and cautions users about potential scams.
- The project aims to create a marketplace for borrowing, lending, and transacting with cryptocurrencies.
- No official timeline or details have been provided regarding the public launch of USD1.
Stablecoins are recognized for their crucial role in the crypto industry, used extensively for trading and transactions, and are gaining regulatory attention from the U.S. government.