World Liberty Fi (WLFI), a crypto project reportedly backed by the Trump family, has made headlines with the alleged launch of its USD1 stablecoin on both the Ethereum and BNB Chains. However, the lack of official announcements from the firm has left the crypto community questioning the legitimacy of the token.
The Emergence of USD1 Stablecoin: The first hints of the USD1 stablecoin surfaced when Binance CEO Changpeng Zhao, also known as CZ, shared a post on X (formerly Twitter) quoting an anonymous user who claimed that World Liberty Fi had introduced a stablecoin called World Liberty Financial USD (USD1). The post also suggested that Wintermute, a major market maker in the crypto industry, had been involved in testing the token’s transactions.
According to CZ, the USD1 stablecoin smart contract was deployed 20 days ago on BNB Chain, as shown by BSCScan data. However, CZ also warned that several scam tokens using the same name have emerged, and the official USD1 token is not yet tradable.
Uncertainty Surrounding the Token: Despite the on-chain data that verifies the smart contract’s deployment from WLFI’s official address, there is no confirmation from World Liberty Fi itself regarding the stablecoin’s launch. The lack of an official statement has fueled doubts within the crypto community about the token’s authenticity.
Both the Ethereum and BNB Chain addresses linked to the USD1 smart contract are verified as official WLFI addresses, but there is no evidence that the token is actively trading. The involvement of Wintermute has also raised questions about the seriousness of WLFI’s intentions to launch a legitimate stablecoin.
The Crypto Community’s Reaction: As speculation mounts, some industry observers are questioning whether the USD1 stablecoin is part of a legitimate project or merely a precursor to a scam. With no official word from World Liberty Fi, the crypto world remains on edge, waiting for more details to confirm the authenticity of the stablecoin and its potential role in the broader market.
As the situation unfolds, the legitimacy of the USD1 stablecoin remains uncertain, and the crypto community is watching closely to determine whether World Liberty Fi will step forward with concrete information or whether the token will disappear into obscurity.
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