The DeFi coin World Liberty Financial (WLFI), a project linked to President Donald Trump’s family, has been listed on major global exchanges. Its associated stablecoin, USD1, was or is also to be listed.
On Monday, major central exchanges, including Binance and Bybit, listed WLFI on their spot markets at 13:00 UTC. The exchanges will support deposits and withdrawals for WLFI on different blockchains, Binance on Ethereum, BNB Smart Chain, and Solana networks.
One Week After Binance and Bybit Began Futures Trading
SponsoredHTX (former Huobi), Bitget, and OKX will support spot and margin trading for the WLFI. KuCoin, Gate.io, BingX, and MEXC will only support spot trading. Binance and Bybit already launched the WLFI perpetual futures contract on Aug 23.
Interestingly, the listing in the US has yet to announce specific listing dates. Kraken listed WLFI simultaneously with other major exchanges, but has applied geographic restrictions. Coinbase is preparing to list USD1 and has not made any official announcement regarding a WLFI spot listing.
Upbit, the leading exchange in the South Korean market, also listed WLFI simultaneously with other major exchanges. This is an unusual synchronous listing for the Korean exchange, which de facto restricts its user base to Korean nationals. Upbit also listed the USD1 stablecoin on the same day at 09:00 UTC. USD1 was listed at 1,252 Korean won and saw a trading volume of $24.8 million within the first hour. Other Korean exchanges, including Bithumb and Coinone, also listed the Trump-related cryptos.
USD1 is a stablecoin issued by World Liberty Financial, designed to maintain a 1:1 peg with the US dollar. Its value is 100% collateralized by a reserve of short-term US Treasury bonds, US dollar deposits, and other cash equivalents. It currently has a market capitalization of $2.33 billion, making up 0.86% of the total stablecoin market cap. WLFI, the parent project, aims to provide US-centric DeFi services and is reportedly inspired by Donald Trump’s vision.
WLFI Weak Despite Listings
Within the first hour of trading, WLFI’s price moves between $0.29 and $0.31, down 1~2% from the previous day in the futures market. This is an unusual development, as most cryptocurrencies typically see a price pump following a listing announcement.
WLFI has proven to be incredibly profitable for early investors. It held two official token sales in January. The first presale price was $0.015 per token, and the second was $0.05. If the current price holds, first-round participants look at more than 2,000% return on their investment.
