The development of World Liberty Financial’s stablecoin USD1 may have had a significant contribution from Binance, the world’s largest digital asset exchange by trading volume. According to a report from Bloomberg, Binance was responsible for coding the smart contract for USD1, and even facilitated a $2 billion transaction in USD1, with approximately 90% of all USD1 still residing in Binance-controlled wallets.
USD1 was launched in March 2025, and just two months later, former Binance CEO Changpeng Zhao, who had previously faced legal issues related to anti-money laundering standards, confirmed that he had applied for a presidential pardon. This raised concerns among US senators, who wrote a letter to the White House questioning the integrity of the situation, especially considering the financial ties between Binance, World Liberty Financial, and President Trump’s family.
Both World Liberty Financial and Binance have denied any wrongdoing, with a spokesperson from World Liberty Financial dismissing the Bloomberg report as politically motivated. It is worth noting that while World Liberty Financial is associated with Donald Trump, it is not under his control, as his assets are managed by a trust controlled by his son.
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