Eric Trump, a co-founder of American Bitcoin Corp. and stakeholder in World Liberty Financial, recently shared an update emphasizing the rapid expansion of USD1, a stablecoin issued by the decentralized finance (DeFi) platform World Liberty Financial. The stablecoin has reportedly grown to exceed PayPal Holdings Inc.'s PYUSD stablecoin in several key metrics, a milestone Trump described as indicative of evolving trends in the digital currency landscape.
In a public social media post, Eric Trump remarked, “The shift is happening,” underscoring the significance of USD1's gains relative to established financial technology players. He emphasized this moment as a major step forward for World Liberty Financial's stablecoin initiative, which is strongly affiliated with the Trump family through ownership and revenue stakes.
Binance Incentivizes USD1 Holdings with $40 Million WLFI Token Airdrop
Amplifying momentum around the USD1 token, Binance—the largest cryptocurrency exchange worldwide—revealed on a recent Friday a $40 million airdrop of WLFI tokens targeted at USD1 stablecoin holders. This promotional event is scheduled to run from the announcement date through February 20. Users maintaining USD1 in their Spot, Funding, Margin, or Futures accounts on Binance are eligible for weekly token distributions.
Furthermore, Binance plans to implement a bonus multiplier of 1.2 times on token rewards for participants who hold USD1 as collateral, thereby encouraging higher engagement and locking liquidity within the system. This strategic incentive aligns with efforts to boost user participation and deepen the stablecoin's market presence through exchange partnerships.
Trump Family's Substantial Involvement in World Liberty Financial
World Liberty Financial operates out of Wilmington and functions as a decentralized finance platform focusing on stablecoin issuance and related services. Distinctively, the company has a strong connection to the Trump family, with a Trump-affiliated business entity possessing a 60% ownership stake alongside contractual rights to 75% of all revenue generated from coin sales.
Eric Trump is acknowledged as a co-founder of this venture, which recently pursued a national trust bank charter, signaling ambitions to expand its traditional financial services footprint. This ownership and governance structure underscores the Trump family's deep financial and operational involvement in World Liberty Financial's stablecoin project.
Critique of Traditional Banking and Crypto Legislation Resistance
Beyond his executive role, Eric Trump has voiced critical perspectives regarding the broader financial system. He has accused major banking institutions of obstructing cryptocurrency-related legislation, reflecting broader tensions between decentralized financial innovations and established banking interests.
His statements emphasize a belief in a transformative period within the financial services sector, where emerging digital assets and blockchain technologies challenge conventional banking models and regulatory frameworks.
Legal and Security Concerns Raised by U.S. Senators
Despite enthusiasm around the project, World Liberty Financial has faced scrutiny from U.S. lawmakers. In November, Senators Elizabeth Warren of Massachusetts and Jack Reed of Rhode Island called for federal investigations into the company based on allegations that its token sales involved businesses affiliated with North Korea and Russia. These concerns were framed as potential threats to national security due to foreign ties.
Eric Trump has publicly repudiated these claims, dismissing them as “absolutely laughable” and asserting that the company maintains thorough knowledge of all token purchasers. This dispute highlights ongoing challenges DeFi platforms face relating to regulatory oversight and geopolitical risks.
Market Performance Metrics for USD1 and PYUSD
Financial data from a recent Friday closing session offers a comparative snapshot of USD1 against PayPal's PYUSD stablecoin. USD1 had a closing price of approximately $0.9999, closely aligned with PYUSD's $0.9994. However, USD1 exhibited a substantially larger 24-hour trading volume at $6.23 billion compared to PYUSD’s $188.38 million, indicating more significant market activity.
The market capitalization of USD1 reached $4.4 billion, surpassing PYUSD's valuation of $3.75 billion. These figures suggest USD1 has achieved notable growth and liquidity, setting it apart in the competitive stablecoin environment.
Disclaimer: Parts of this content were generated with the assistance of AI tools and subsequently reviewed by editors to ensure accuracy. The information provided is for informational purposes and should not be considered investment advice.