World Liberty Financial, a crypto project supported by the President of the United States Donald Trump, has launched the stablecoin USD1 on BNB Chain and Ethereum. Currently, USD1 has a total supply of over 3.5 million dollars.
However, as officially stated by the company, the token is not currently tradable.
The stablecoin, denominated World Liberty Financial USD (USD1), was distributed at the beginning of March 2025.
According to the data provided by Etherscan and BscScan, the project’s smart contract has been deployed on BNB Chain and Ethereum.
The former CEO of Binance, Changpeng “CZ” Zhao, confirmed the news, while World Liberty emphasized that the token is not yet available for trading.
Stablecoin USD1: the regulatory context and the approval of the GENIUS Act
The debut of USD1 comes at a critical moment for the cryptocurrency sector in the United States. Congress is considering the approval of the bill Guiding and Establishing National Innovation for US Stablecoins, known as the GENIUS Act. This measure, which would regulate the use of stablecoins in the United States, was approved by the Senate Banking Committee on March 13 and could soon be discussed for a full vote.
According to Bo Hines, executive director of the President’s Council of Advisers on Digital Assets, the measure could reach Trump’s desk for official signing by June 2025. The outcome of the regulation could directly influence the future of USD1 and other stablecoins operating in the USA.
The shadow of the secret: the control of the Trump family over World Liberty
Since it was founded in September 2024, World Liberty Financial has kept many of its operations shrouded in secrecy.
According to what is reported on the official website of the project, President Donald Trump and some members of his family control 60% of the company’s shares.
So far, World Liberty has conducted two public token sales, raising a total of 550 million dollars.
This direct involvement of the Trump family has raised political and regulatory concerns, with some critics speculating possible conflicts of interest.
Even before the first public sale in October 2024, the company had been the subject of investigations and criticism by some American political figures.
The alleged negotiations with Binance and the denial by CZ
The announcement of the launch of the stablecoin USD1 coincides with rumors that the Trump family has been in discussions with Binance to acquire a stake in the crypto exchange. Some sources have even speculated that the negotiations included a possible presidential pardon for Changpeng “CZ” Zhao, former CEO of Binance, involved in legal controversies with U.S. authorities.
CZ has, however, denied any agreement between Binance.US and Trump, as well as the existence of any presidential pardon. Despite this, speculations about potential ties between the new American government and the crypto sector continue to circulate.
The role of Justin Sun and the influence of the crypto sector on politics
Another prominent figure involved in the World Liberty Financial project is the founder of Tron, Justin Sun. After Trump’s electoral victory, Sun announced a $30 million investment in the company, subsequently obtaining a position as a company advisor.
The influence of politics on cryptocurrencies became evident when the Securities and Exchange Commission (SEC) decided to suspend a legal proceeding against Sun and three of his companies. The decision came a few days after Trump’s inauguration on January 20, 2025, and the appointment of Mark Uyeda as interim chairman of the SEC.
Other executives in the crypto sector, who supported Trump and the Republican Party during the 2024 election campaign, have also benefited from a relaxation of legal actions by the SEC. Among them, representatives of Coinbase and Ripple, whose regulatory proceedings were subsequently dismissed under Uyeda’s leadership.
The growth of the stablecoin market
The launch of the stablecoin USD1 occurs during a period of strong expansion of the stablecoin market. According to data collected by Artemis and Dune, the number of active wallets containing stablecoins has increased by over 50% from February 2024 to February 2025.
In January 2025, the total market capitalization of stablecoins exceeded 200 billion dollars, with Tether (USDT) and USDC among the most used dollar-pegged cryptocurrencies. The growing demand for stablecoins highlights the increasingly significant role of these digital assets in global financial markets.
Conclusion
The launch of the stablecoin USD1 by World Liberty Financial adds a new chapter to the relationship between politics and cryptocurrencies in the United States. With the Trump family directly involved in the company, the project raises questions about potential conflicts of interest and regulatory impacts.
As the GENIUS Act progresses through Congress and the crypto sector gains increasing political relevance, the future developments of the USD1 project and stablecoins in the United States remain uncertain. Regulation, government decisions, and market evolution will determine the fate of this new initiative linked to President Trump.
