Crypto observers think on Monday that the World Liberty Financial (WLFI), the decentralized financial platform (DEFI) supported by US President Donald Trump and his family, could try the long-awaited stablecoin dollar before rolling for the wider public.
The blockchain sleuths earlier mentioned A fuzzy activity with a token labeled World Liberty Financial USD (USD1) on Blockchain tracking websites Olerscan and BSCSCAN. Blockchain data shows that USD1 has been deployed earlier this month at the Ethereum and BNB chain network and a series of token transactions taking place over the past few weeks.
Some transfers include addresses that are linked to Wintermute, a large digital asset trading firm and market manufacturer, and crypto custodian bitgo, according to Arkham Intelligence Data. The token supply currently stands around 3.5 million-3.5 million in the Ethereum and BNB chain, each Eterscan and BSCSCAN.
Changpeng CZ Zhao, founder of Crypto Exchange Giant Binance, brought extensive attention to the token by “Welting” the project to the BNB chain In a post Through a screenshot of the USD1 BSCSCAN profile shared with its 10 million followers. The post, she later Saystriggered a wave of copy-cats aimed at capital with the newly found attention.
Wlfi, reaction to a X postUSD1 says it’s not currently available for trading users and crypto users should take care of scams.
Stablecoin Buzz
WLFI, a project led by Zachary Folkman and Chase Herro, created a splash last year as one of the first crypto projects that enjoys supporting Trump. Protocol aims to provide a blockchain -based market where users can borrow and lend cryptocurrencies, create pools and transacts with stablecoins.
It is widely known that the project is working on making its own stablecoin, but there is no official communication about the exact plans and timing of the public’s token launch. CoinDesk reached the team, but had not received any responses.
Stablecoins is one of the fastest growing corners of the crypto industry and is widely considered murder cases for blockchains. In their prices that have been in an external possession, mainly in the US dollar, they are widely used as a pair of crypto trading and transactions on blockchain metals. They are also especially used for sunny payments, remittances and savings, which attract the attention of many venture capital investors.
Buzz around the asset class has been revived in recent months as the Trump administration has raised the Stablecoin regulation at the top of its crypto agenda. Treasury Secretary Scott Bescent said Stablecoins play a major role in maintaining the US dollar’s global role as a currency reserve.
