🇺🇸 Trump-Backed Firm Eyes Stablecoin Surge — New App Could
koinmilyoner
Updated at: 6 hours ago
{"content":"🇺🇸 Trump-Backed Firm Eyes Stablecoin Surge — New App Could Shake Up the Market!
A crypto giant will be examined. US Liberty Financial (WLF), a Trump-affiliated corporation, will issue its first USD1 stablecoin audit in days.
Since March, the token's market cap exceeded $2 billion. One more thing. WLF is also releasing a regular investor smartphone app.
Audit Shows Reserve Details
The examination will reveal USD1 token backings, sources say. WLF claims US dollar deposits, cash equivalents, and Treasuries cover the stablecoin. BitGo has those assets.
After the audit, WLF will provide monthly reserve reports. Transparency may attract major players and regular consumers.
The new software would simplify USD1 buying, holding, and sending, according to rumors. It aims to simplify on-ramps and off-ramps for crypto beginners.
WLF co-founder Zak Folkman announced it during the Permissionless conference in Brooklyn on June 25. He promised precise financial statistics on each coin in the software.
WLF also suggested that its governance token, WLFI, may soon reach exchanges. WLFI is non-tradable and allows holders vote on USD1 protocol updates.
Folkman joked that holders “will be very, very happy.” within weeks. WLFI trading might bring additional funds and price fluctuations to the project.
In June, the Trump family reduced their WLF holding from 60% to 40%, earning $130 million. The family company made $190 million from that decrease.
Lawmakers and ethical watchdogs have noted possible conflicts since WLF's stablecoin activities began when crypto laws were loosened.
USD1 has significant users. UAE-based MGX bought $2 billion in Binance using USD1 tokens in March. Over 85,000 wallets received WLF's $4 million USD1 airdrop in June.
How the audit reads is crucial. Will figures match WLF claims? The app's launch and crowds are another factor. Finally, WLFI listing might disrupt trade desks.
USD1 might join the top stablecoins by year's end if all goes well. An audit surprise or a rough app launch might hinder growth.
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