Donald Trump-backed Crypto Venture World Liberty Financial launched its US dollar page Stablecoin with a total supply of over $3.5 million.
According to data from Etherscan and BSCSCAN, the project launched the World Liberty Financial USD (USD1) token in early March. Former Binance CEO Changpeng “CZ” Zhao said the project’s smart contracts are being deployed to the BNB chain and Ethereum, but World Liberty said Stablecoin is “not available for trading at the moment.”
The launch of USD1 Stablecoin is because US lawmakers are considering passing the guide and establishing national innovation for US Stablecoins or Genius, Act. The bill will move from the Senate Banking Committee on March 13th and will soon be occupied by floor votes.
Bo Hines, executive director of the Presidential Advisory Council on Digital Assets, said he expects a Trump desk genius bill by June.
Former Binance CEO who has approved the release of USD1. Source: Changpeng Zhao
Since the launch of the platform in September 2024, many aspects of the world’s freedom intention have been wrapped in secret. The project’s website points out that the US president and some of his family control 60% of the company’s stock profits. As of March 14, World Liberty had completed two public token sales, adding $550 million to the company.
The launch of Stablecoin on the BNB chain came in reports that the Trump family was in charge of Binance in obtaining shares in the crypto exchange and granting Zhao separate presidential pardons. CZ denied reports of transactions between Binance.us and Trump and Fardon.
Is Trump’s crypto venture a conflict of interest?
Before the first public token sale in the project in October 2024, global freedom faced scrutiny from US policymakers and accused Trump of a conflict of interest while in office.
A few days after Trump won the US presidential election, Tron founder Justin Sun announced that he would invest $30 million in global freedom, likely leading to his position as an advisor to the company. After Trump took office on January 20th and Commissioner Mark Weda began leading the Securities and Exchange Commission as acting chairman, regulators asked federal courts to suspend lawsuits against the Sun “to explore potential resolutions.”
Sun and his three companies were facing allegations from the SEC that sold unregistered securities. Other executives from crypto companies that supported Trump and Republicans in the 2024 election (who have financial contributions, including Coinbase and Ripple) have seen SEC enforcement actions fall under Uyeda.
Related: Trump will become the first president to sit down to speak at a crypto conference
As Stablecoin Market continues to grow, the launch of World Liberty will emerge. Online analytics platforms Artemis and Dune showed that the number of active Stablecoin wallets increased by more than 50% between February 2024 and February 2025. Two of the two most popular markets remain in January, including $20 billion (USDT) and USDC markets.
Magazine: Trump’s crypto venture causes conflicts of interest, insider trading questions
