Trump family-linked USD1 supply up $150M as Binance rolls out yield program
The USD1 stablecoin, linked to the Trump family, gained $150M in market cap after Binance launched a high-yield incentive program.Summary
The World Liberty Financial USD (USD1) stablecoin, associated with the family of US President Donald Trump, saw its market capitalization increase by $150 million, rising from $2.74 billion to $2.89 billion on Wednesday. This surge followed Binance's announcement of a "booster program" offering up to 20% APR on USD1 flexible products for deposits over $50,000, running until January 23, 2026.
USD1 is becoming an increasingly significant part of the Binance ecosystem; the exchange previously added fee-free trading pairs for USD1 and announced it would convert all collateral backing its BUSD stablecoin to USD1 at a 1:1 ratio. These integrations have helped USD1 climb to become the world's seventh-largest stablecoin. Furthermore, USD1 was reportedly used to settle a $2 billion investment into Binance Exchange by MGX in May.
Despite its growth, questions persist regarding the relationship between Binance and World Liberty Financial (WLFI), with a Bloomberg report suggesting Binance developed some of the USD1 code. Binance founder Changpeng Zhao denied factual errors in that report, while lawmakers have also expressed concerns about the alleged relationship between the exchange and the Trump-linked crypto ventures.
(Source：Cointelegraph)