World Liberty Financial's USD1 stablecoin has surpassed the $2 billion capitalization mark
Date: 2025-05-09 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
At the beginning, the market value of the stablecoin USD1, issued by the company World Liberty Financial, reached approximately $2.1 billion. According to CoinGecko data, at the end of April this figure was only $137 million, which indicates rapid growth.
DeFi Llama statistics show that almost all of the circulating supply of USD1 is located on the BNB Chain network. Only about $14.5 million was issued in Ethereum. According to BscScan, from April 28 to 29, more than twenty token issues were held, most of which consisted of tranches of 50 to 100 million coins.
The key factor in the growth was the step of the investment company MGX from Abu Dhabi, which on May 1 announced the use of USD1 to return $2 billion invested in the Binance platform. Brandon Kay, an analyst from The Block, noted that it was this operation that became the main catalyst for the sharp increase in the capitalization of the digital asset.
World Liberty Financial first presented the idea of launching a dollar-denominated stablecoin in March. In April, the company began preparing the audience for the project, offering USD1 airdrops to holders of its own WLFI token. On May 7, users started voting in the snapshot format to support this initiative.
Reuters previously reported that in January, the family of US President Donald Trump increased control over WLF, received 75% of net profit and 60% of revenue from the company's DeFi operations after the launch of the main platform. Donald Trump himself is mentioned in the company's documentation as a "chief crypto-lawyer", and his sons - Eric, Barron and Donald Jr. - are listed as Web3 ambassadors. At the same time, they do not hold official positions in the company.
In March, WSJ and Bloomberg reported on a possible deal to buy a stake in the American division of Binance with the participation of WLF and the Trump family. However, both Changpeng Zhao, co-founder of the exchange, and representatives of World Liberty Financial denied this information.
The growth of USD1 indicates a possible strengthening of the influence of the WLF on the crypto market, especially in light of the political support of the project from the president and his entourage.
