World Liberty Financial, a crypto company associated with President Donald Trump and his family, recently launched World Liberty Markets, a decentralized finance (DeFi) lending platform utilizing its USD1 stablecoin. This stablecoin has reached a circulation value of $3.4 billion, solidifying its position as one of the largest dollar-backed stablecoins following industry leaders such as Tether, Circle, and PayPal’s PYUSD.
The platform enables users to engage in lending and borrowing digital assets through USD1, while accepting collateral including Ethereum, USDC, USDT, tokenized Bitcoin, and the WLFI governance token. Operationally, World Liberty Markets is powered by the Dolomite protocol, facilitating these transactions on its DeFi infrastructure.
Currently, borrowers can acquire USD1 on the platform by paying approximately 0.83% interest, whereas lenders may earn about 0.08% interest from lending USD1, although these rates are subject to fluctuation as the volume of funds committed to the platform changes.
The platform's launch coincides with a broader resurgence in crypto lending, as evidenced by a November report from Galaxy Digital, showing active DeFi loans increasing to nearly $41 billion by the end of the third quarter of 2025, contributing to an all-time high total crypto lending value of approximately $74 billion.
World Liberty Financial publicly acknowledges President Trump and his sons as co-founders, directly linking the president to the company’s operations and earnings. A Reuters investigation published in October revealed that the Trump family generated hundreds of millions of dollars from the company and associated token sales during the first half of 2025. Specifically, token sales related to WLFI accounted for approximately $463 million, with their total crypto-derived income exceeding $800 million across enterprises connected to the Trump family.
Notably, these crypto earnings surpass income from the Trump family’s traditional business ventures such as golf courses and real estate licensing. Additionally, President Trump earned tens of millions from WLFI sales in 2024 prior to assuming office.
Despite this, World Liberty claims that President Trump is not involved in the daily operational management of the company—a responsibility delegated to crypto industry executives including co-founder Zach Folkman. However, critics argue that this division of roles is insufficient to mitigate concerns given the president’s acknowledged association with the project and substantial financial gains.
Adding complexity to potential conflicts of interest, World Liberty filed an application for a national bank charter recently. This would provide regulatory approval to issue and custody the USD1 stablecoin internally, removing reliance on external entities. If authorized, USD1 would fall under federal banking oversight.
This application was submitted to the Office of the Comptroller of the Currency, a regulatory body under the Treasury Department, which ultimately reports to the president. Observers view this intertwining of regulatory jurisdiction and presidential connections as an additional layer highlighting possible conflicts.
Looking ahead, Folkman indicated plans to expand the lending platform to accept a wider range of collateral options, with potential inclusion of tokenized real estate assets linked to the Trump Organization. The company also intends to introduce a mobile application and a debit card for the USD1 stablecoin within the current year.
Examining the market performance of the WLFI token, it has experienced a recovery of approximately 86% from an October low of $0.09 after a significant drop of 82% from a September peak of $0.28. Key resistance levels to watch include $0.18791, the immediate resistance point, followed by the psychological barrier at $0.20, then a range between $0.22 and $0.24. Surpassing $0.25 could target the earlier peak of $0.28. Conversely, downside support is noted at $0.15681, with a break below $0.14 risking a retest of $0.12892, and a further drop under $0.12 potentially threatening the ongoing recovery momentum.