Trump’s Cryptocurrency Project WLFI Tests USD1 Stablecoin, Involves Wintermute and BitGo
World Liberty Financial’s USD1 Stablecoin Under Testing
Supported by U.S. President Trump, the crypto project World Liberty Financial (WLFI) is suspected of testing its first dollar-pegged stablecoin, USD1, which has been deployed on both the Ethereum and BNB Chain blockchains. This has led to frequent interactions with market maker Wintermute and custodian BitGo, sparking widespread attention and speculation in the crypto community.
Stablecoin USD1 Revealed, Frequent Interactions with Wintermute and BitGo
On-chain analytics firm LookOnChain recently discovered a token named World Liberty Financial USD ($USD1) that was deployed earlier this month on Ethereum and BNB Chain, with a total supply of approximately 3.5 million tokens.
Trump’s World Liberty (@worldlibertyfi) has deployed a stablecoin, $USD1, on @BNBChain. And #Wintermute‘s public wallet appears to have run some test transfers with #USD1. link
According to data from Arkham Intelligence, wallet addresses interacting with this token include major crypto asset market maker Wintermute and BitGo, a custodial platform recently aiming for an IPO. Just last month, Wintermute revealed its plans to enter the U.S. market, raising questions about the connection between the two.
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One active Wintermute address interacting with USD1 shows that the wallet holds assets exceeding $85 million, further corroborating its legitimacy. Another major address is suspected to be responsible for the minting and burning operations of the USD1 stablecoin. Observational data indicates that this address conducted multiple cross-chain transfers of USD1 six days ago, suggesting that the team may be testing cross-chain technology between Ethereum and BNB Chain.
CZ Posts Support, Triggering a Wave of Scams
In response, Binance founder Zhao Changpeng (CZ) welcomed USD1’s launch on BNB Chain via a post on social platform X this morning, accompanied by a screenshot from BscScan, which quickly attracted attention from the crypto community. This post also incited a wave of imitation, with many counterfeit USD1 tokens appearing in the market, attempting to defraud investors.
In light of external speculation and impersonation risks, WLFI clarified through its official X account: “USD1 is not yet open for trading. Please be cautious of scams and follow our official announcements.”
Details of WLFI USD1 Still Awaiting Clarification
WLFI, led by Zachary Folkman and Chase Herro, has drawn attention since last year due to support from the Trump family. Its goal is to create a decentralized financial market that allows users to lend cryptocurrencies, establish liquidity pools, and transact using stablecoins.
Rumors have circulated about WLFI’s plans to launch its own stablecoin, but no official announcement has been made. The recent exposure of USD1 alongside active trading activities, despite lacking many details, is enough for the market to speculate that a public release may be imminent.
Stablecoins as “Killer Products” in Blockchain Applications
As stablecoins are pegged to fiat currencies like the dollar, they are expected to become increasingly popular in trading and payment scenarios, attracting significant venture capital interest.
Regulatory Framework for Stablecoins on the Horizon, U.S. Companies Watching Closely
With the Trump administration incorporating stablecoins into its policy agenda, U.S. Treasury Secretary Scott Bessent emphasized their critical role in maintaining the dollar’s status as a global reserve currency. This policy stance provides a clearer regulatory environment for stablecoins like USD1, which have official backing.
Currently, even with the on-chain activities of USD1 exposed and closely interacting with several institutional wallet addresses, WLFI emphasizes that the token is not yet open for trading. Should the stablecoin officially launch and receive regulatory approval, it could have a profound impact on the overall DeFi ecosystem and the status of the dollar.
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