Trump-Backed World Liberty Financial Launches USD1 Stablecoin on Ethereum and BNB Chain

The USD1 stablecoin, pegged to the U.S. dollar, marks a significant step for the Trump-backed DeFi project, though it faces regulatory uncertainty and ethical scrutiny.

World Liberty Financial, a decentralized finance project backed by Donald Trump, has officially launched its USD1 stablecoin on Ethereum and Binance's BNB Chain.
The USD1 stablecoin is pegged to the U.S. dollar and aims to provide stability in volatile cryptocurrency markets, but it is not yet available for public trading.
The project has raised $550 million through governance token sales and plans to create a blockchain-based marketplace for borrowing, lending, and transacting with stablecoins.
The Trump administration continues to push for stablecoin regulation, with a bill in Congress that could provide legal clarity for projects like USD1.
World Liberty Financial has warned users to watch out for scams related to USD1, as blockchain activity around the token has increased since its deployment.