In a significant development for the cryptocurrency industry, World Liberty Financial (WLFI), the DeFi platform co-founded by President Donald Trump's sons Eric Trump, Donald Trump Jr., and Barron Trump, has seen its dollar-pegged stablecoin USD1 exceed a $5 billion market capitalization. This achievement, reported across major outlets including The New York Times and Yahoo Finance, positions USD1 as one of the top stablecoins globally, ranking around fifth in circulation.
The milestone was celebrated enthusiastically by the Trump family. Eric Trump marked the occasion on social media with a series of fire emojis, highlighting the project's rapid growth. Donald Trump Jr., another co-founder, praised USD1 as a "Built in America" stablecoin designed for real-world scale and institutional adoption, emphasizing the team's focus on infrastructure rather than hype.
USD1's surge has been boosted by strong ties to Binance, the world's largest crypto exchange. Binance has eliminated fees on certain USD1 trades and integrated it as collateral, accelerating its adoption. Notably, USD1 played a key role in a high-profile $2 billion deal involving Abu Dhabi-based MGX (backed by UAE interests) and Binance, further driving its circulation and volume.
However, the project's success hasn't come without controversy. Reports from The Wall Street Journal and others detail a pre-inauguration deal where a UAE-linked entity, associated with Sheikh Tahnoon bin Zayed Al Nahyan, acquired a 49% stake in World Liberty Financial for $500 million. This has sparked congressional probes into potential conflicts of interest, foreign influence, and regulatory implications—especially amid broader scrutiny of Trump's crypto policies and pardons in the space.
Despite these headwinds, USD1's growth underscores the blending of traditional finance, DeFi, and high-profile political backing in today's crypto landscape. As the market remains volatile, World Liberty Financial continues to position itself at the intersection of innovation and institutional use.
