Trump Family’s WLFI Reportedly Launches USD1 Stablecoin on Ethereum and BNB Chain, CZ Reacts

By Cheryl L.

The Trump family's crypto initiative, WLFI, has reportedly launched a stablecoin named USD1 on both Ethereum and BNB Chain on March 4, according to a post by INVEST Y on X. The post also mentioned that WLFI is conducting multiple functionality tests for the stablecoin.

Adding to the speculation, Binance founder CZ shared the post and confirmed that the USD1 token was created on the BNB Chain."Welcome to BNB chain!" CZ commented. However, WLFI has yet to officially verify the authenticity of these claims or comment on the stablecoin’s development.

Wintermute, a leading market-making firm in the crypto space, seems to be involved in the testing process, though no official statement has been made by either Wintermute or WLFI. According to report by Bloomberg, Witnermute is planing to expand into the U.S. with a New York office and over-the-counter trading products.

This news comes amid a significant regulatory backdrop in the U.S. regarding stablecoins. According to earlier reports, the GENIUS Act, a stablecoin bill proposed by Senator Bill Hagerty, is set for critical deliberation in the Senate next month. The White House is said to be actively pushing for the bill's passage, signaling heightened government interest in stablecoin regulation.

If confirmed, WLFI’s USD1 stablecoin could mark a notable entry into the digital asset space by the Trump family, potentially fueling discussions on the intersection of politics and cryptocurrency innovation.

What’s next for USD1? Follow us for real-time updates on platform changes and industry reactions.