Trump's Crypto Play: World Liberty Financial Gears Up for Big Moves

Audit and Mobile App on the Horizon

Hang onto your hats, crypto fans! World Liberty Financial, the powerhouse behind the USD1 stablecoin and linked to none other than Donald Trump, is about to shake things up. They're dropping their first-ever audit and launching a slick new mobile app for the everyday investor. This bombshell was dropped by WLF co-founder Zak Folkman during a hot Blockworks interview at the Permissionless conference in Brooklyn.

Transparency and Growth

The audit's just days away, folks, and it's gonna spill the beans on what's backing the USD1. We're talking a hefty $2.2 billion market cap since its March launch, supported by solid U.S. dollar deposits, cash equivalents, and U.S. Treasuries. USD1's been making waves on Ethereum, BNB Chain, and TRON, with BitGo keeping a tight grip as the custodian. And get this—Folkman says WLF's going monthly with reserve reports from now on.

User-Friendly Crypto on the Go

But wait, there's more! WLF's also rolling out a mobile app that's gonna make crypto as easy as swiping right. Folkman's all about that transparency: "We're going to have very transparent auditing from a financial level," he declared. And if you're holding onto WLFI, the platform's governance token, keep your eyes peeled. Folkman hinted it could soon hit the trading scene: "If you pay attention over the next couple of weeks, I think everyone's going to be very, very happy."

Controversy and Cash

Now, it ain't all smooth sailing. WLFI and USD1 have raked in hundreds of millions for the Trump family biz, but they've also caught heat from lawmakers and critics. The timing of Trump's crypto ventures has ethics watchdogs scratching their heads, especially with regulatory oversight getting the chop. And get this—the Trump family allegedly banked over $130 million after trimming their WLF stake from 60% to 40% in June, pulling in about $190 million total.

Institutional Adoption and Airdrops

Despite the flak, USD1's on a roll with the big players. It was the star of a $2 billion investment in Binance by UAE-based firm MGX back in March. And earlier in June, a $4 million USD1 airdrop hit over 85,000 wallets, boosting the stablecoin's street cred. With new tools, skyrocketing demand, and a swelling user base, WLF's making USD1 a force to be reckoned with in the stablecoin arena.