USD1, the self-proclaimed "World Free Financial Dollar" stablecoin, was launched today on BSC. There was no official announcement from the Trump family-related project, but it appears that the major market maker Wintermute is working on this stablecoin.
Former Binance CEO Changpeng "CZ" Zhao mentioned only minimal details about this asset. So far, there is no clear evidence of an actual connection to Trump.
World Liberty Financial, Stablecoin Launch?
The world's largest cryptocurrency exchange, Binance, may be on the verge of a significant business move. Last week, there were reports that the company was negotiating with WLFI, and rumors suggested that the Trump family would acquire shares.
Today, the cryptocurrency community first discovered USD1. It is believed to be the WLFI stablecoin on Binance Smart Chain (BSC):
"The Trump Family Foundation has issued a stablecoin on BSC, with market maker Wintermute also participating. It seems the Trump Family Foundation discovered that stablecoins are still profitable and wanted to create one. So establishing an exchange and investing would be perfect!" claimed Old Driver.
Wintermute's perspective made this issue particularly intriguing. Wintermute is a famous cryptocurrency market maker with a daily trading volume exceeding $224 million.
Earlier this year, they had dealings with Binance and previously invested in Ethena Labs. Considering Wintermute's reputation, the cryptocurrency community is speculating that World Liberty Financial might be associated with this stablecoin.
Changpeng "CZ" Zhao, former Binance CEO, mentioned that USD1's smart contract was first deployed 20 days ago and welcomed the token to the BNB Chain.
However, he soon warned the community that the USD1 name is being used for scams.
"I heard that many scammers have created coins with the same name after this post. The official USD1 cannot be traded yet. Do not fall for scams," CZ added.
Despite mentioning the "official USD1", CZ's statement does not clearly indicate an official partnership between Binance and World Liberty Financial.
Several social media commentators reacted to his post, warning that the market might interpret his spontaneous post in a completely different context. CZ's "spontaneous" posting style can cause misunderstandings.
"You still don't understand the impact of your tweet. Most people don't know that you tweet spontaneously," said Ben Todar.
WLFI or Binance have not officially commented on this stablecoin and have refuted previous claims of a partnership. For now, it is advisable to pay attention to USD1 while waiting for further confirmation.
