The latest finding from X reveals that the crypto project backed by Donald Trump’s family, World Liberty Fi (WLFI) has launched a stablecoin dubbed USD1 on Ethereum and BNB Chain. While the firm has not announced official information on the stablecoin, the crypto community stresses whether the token is real or fake.
The token comes to hindsight as the Binance CEO Changpeng Zhao quotes a post from an anonymous X user claiming that the WLFI has issued a stablecoin called World Liberty Financial USD (USD1) on BNB Chain and Ethereum. The user also claimed that Wintermute – a prominent market maker in this space – has also been involved in the supposed test transactions of the token.
CZ notes that the smart contract for USD1 stablecoin was deployed 20 days ago on BNB Chain as per BSCScan data. He also revealed in a subsequent post that a lot of scammers have created tokens with the same name while the official USD1 is not tradable yet.
Is USD1 Stablecoin Real or Fake?
Despite the growing speculations on the USD1 stablecoin, there is no official confirmation from World Liberty Fi regarding its issuance and the lack of any announcement has fueled doubts within the crypto community.
While on-chain data suggests that the USD1 smart contract was deployed from the official WLFI address, there is no evidence that it is actively trading or has been officially launched.
Both the address, on BNB Chain and Ethereum, have been labeled as WLFI’s official address and smart contract deployment from both are verified. Moreover, the involvement of Wintermute has also sparked discussion on how serious WLFI’s plan is to launch a real stablecoin.
Also Read: Visa to Help Sam Altman’s World Project for Stablecoin Wallet?
