Donald Trump Crypto Project Launches Stablecoin
24 Mar, 2025 ● Crypto people
The Donald Trump-affiliated crypto initiative, World Liberty Financial, has introduced a US dollar-pegged stablecoin with a total supply exceeding $3.5 million.
Blockchain data from Etherscan and BscScan shows that the World Liberty Financial USD (USD1) token was launched in early March.
Former Binance CEO Changpeng “CZ” Zhao pointed out that the token’s smart contract was deployed on both Ethereum and the BNB Chain, while World Liberty stated that the stablecoin is “not currently tradeable.”
The release of USD1 coincides with legislative efforts in the U.S. to advance the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS, Act.
This bill was approved by the Senate Banking Committee on March 13 and is expected to move to a full Senate vote soon.
Bo Hines, executive director of the President’s Council of Advisers on Digital Assets, mentioned that the GENIUS Act is anticipated to reach Trump’s desk by June.
Since the platform’s debut in September 2024, World Liberty Financial has kept much of its operations under wraps.
Its website notes that the U.S. President and members of his family collectively own 60% of the company’s equity.
By March 14, the project had conducted two public token sales, raising a total of $550 million.
The stablecoin launch on the BNB Chain comes amid reports that the Trump family had been in discussions with Binance about purchasing a stake in the exchange and potentially offering a presidential pardon to Zhao.
CZ has denied that any deal involving Binance.US or a pardon exists.
Prior to the first public token sale in October 2024, World Liberty faced criticism from U.S. lawmakers, who raised concerns about Trump’s potential conflicts of interest during his campaign.
Shortly after Trump’s presidential victory, Tron founder Justin Sun announced plans to invest $30 million into World Liberty.
Following Trump’s inauguration on January 20 and the appointment of Mark Uyeda as acting chair of the U.S. Securities and Exchange Commission, the SEC requested a federal court to pause its case against Sun to “explore a potential resolution.”
The SEC had previously accused Sun and three of his companies of offering unregistered securities.
Other crypto executives who supported Trump and the Republican Party in the 2024 elections — including some from Coinbase and Ripple — have since seen their SEC enforcement cases dropped under Uyeda’s leadership.
The launch of World Liberty’s stablecoin occurs amid strong growth in the stablecoin sector.
According to analytics platforms Artemis and Dune, the number of active stablecoin wallets increased by over 50% between February 2024 and February 2025.
The total market cap of stablecoins surpassed $200 billion in January, with USDT and USDC continuing to lead in popularity.
Sources:
https://cointelegraph.com/news/world-liberty-financial-donald-trump-launches-stablecoin
https://etherscan.io/token/0x8d0d000ee44948fc98c9b98a4fa4921476f08b0d
