USD1, a self-proclaimed “World Liberty Financial USD” stablecoin, launched on BSC today. While there has been no official announcement from the Trump Family-linked project itself, leading market maker Wintermute interacted with this stablecoin.
Former Binance CEO Changpeng “CZ” Zhao commented on this asset, but only in minimal detail. So far, there’s no clear proof of an actual Trump connection.
Is World Liberty Financial Launching a Stablecoin?
Binance, the world’s largest crypto exchange, may be on the verge of a big business move. Last week, reports alleged that the firm was in talks with WLFI to launch a new USD-backed stablecoin while the Trump family would buy a stake in it.
Today, the crypto community first noticed USD1, an alleged WLFI stablecoin on Binance Smart Chain (BSC):
“The Trump Family Foundation just issued a stablecoin on BSC, and the market-making agency Wintermute also participated in it. I guess the Trump Family Foundation found that stablecoins are still profitable and wanted to make stablecoins, so it would be perfect to set up an exchange and invest in it!” claimed Old Driver.
This Wintermute angle made the issue particularly enticing. Wintermute is a high-profile crypto market maker with a daily trading volume of over $2.24 billion.
Earlier this year, it did business with Binance and previously invested in Ethena Labs. Given Wintermute’s reputation, the crypto community is speculating that World Liberty Financial might be involved with this stablecoin.
Changpeng “CZ” Zhao, former CEO of Binance, noted that USD1’s smart contract was first deployed 20 days ago and welcomed the token to BNB Chain.
Shortly afterward, however, he warned the community that the USD1 name was being used in scams.
“I was told since this post, a lot of scammers created coins with the same name. The official USD1 is not tradable yet. Please do not fall for the scams,” CZ added.
Despite referring to “the official USD1,” CZ’s statement isn’t a clear indicator of any official partnership between Binance and World Liberty Financial.
Several social media commentators with substantial followings responded to his posts, warning that the market may take his spontaneous posts completely out of context. CZ’s “off the cuff” posting style could create misunderstandings.
“You still don’t understand the influence of your tweet. Most people actually don’t know that you’re just spontaneous with your tweets,” Ben Todar,
Neither WLFI nor Binance has officially commented on this stablecoin or acknowledged any kind of partnership and pushed back on previous allegations that one exists.
For now, the space will have to keep a close eye on USD1 and await further developments.
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