Money Grab/Profit from his own market-moving decisions
Trump-backed USD1 stablecoin launches on two blockchains
World Liberty Financial, the Trump family’s crypto venture, confirmed on March 25, 2025 that it would issue USD1, a stablecoin pegged to the dollar and backed by Treasuries, dollar deposits and cash equivalents, with BitGo holding the reserves.
What happened
On March 25, 2025, World Liberty Financial confirmed it would issue USD1, a stablecoin pegged one-to-one to the dollar. The venture is majority-owned by a Trump family entity. USD1 is backed by short-term Treasuries, dollar deposits and cash equivalents, and BitGo was named custodian of the reserves. Blockchain observers had already spotted a USD1 contract on BNB Chain about three weeks earlier, and test transfers the day before, some involving the market maker Wintermute.
The token went live on Ethereum and BNB Chain in April, with most of the supply on BNB Chain. Supply was under $130 million on April 27. On May 1, World Liberty said MGX, an Abu Dhabi fund, would use USD1 to settle a $2 billion investment in Binance, and supply passed $2 billion within days.
World Liberty announced that supply crossed $3 billion in December 2025 and more than $4 billion by August 2026. A stablecoin issuer earns the yield on the reserves behind the coins, so growth in supply is growth in the venture’s income.
Who benefited
World Liberty Financial earns the interest on the Treasuries and cash backing every USD1 in circulation. The Trump family benefits through the entity that holds a majority of the company. Binance’s chain carries most of the supply, and its $2 billion investment from Abu Dhabi was settled in the coin.
Who wanted something
The largest early holder was a wallet funded with $2 billion in late April and tied to Abu Dhabi’s MGX. MGX is a state-backed fund chaired by the UAE’s national security adviser. The record does not name the other early adopters.
Who lost out
No public money is involved. The rule that a president does not run a business foreign governments and institutions can pay into is what lost out. Anyone, including a foreign state, can direct income to the president’s family venture by holding USD1.
Why it matters
The president’s family launched a financial product two months into his term through a company it majority-owns. Its income depends on who chooses to hold it, and the first holder of size was a fund controlled by a foreign government. Supply grew from under $130 million to more than $4 billion in 16 months.
Sources Phemex AcademyFXStreetBlockworksThe BlockBusiness Wire (World Liberty Financial release) (primary)U.S. Office of Government Ethics (primary)