Summary
- Binance is set to list the stablecoin USD1 from WLFI, led by the Trump family, according to Cryptopolitan.
- USD1 is a dollar-pegged stablecoin with a 1:1 collateral structure that complies with U.S. Treasury standards.
- The GENIUS Act has passed a procedural vote in the U.S. Senate, increasing the likelihood of regulatory legislation related to USD1 passing in the full session.
Global cryptocurrency exchange Binance is set to list the stablecoin 'USD1' from the decentralized finance (DeFi) project World Liberty Financial (WLFI), led by the family of former U.S. President Donald Trump.
According to cryptocurrency media outlet Cryptopolitan on the 22nd (local time), Binance announced that it will support USD1/USDT spot trading as of noon local time (9 PM KST on the 22nd). Deposits have already begun, and withdrawals will be available from noon on the 23rd (local time).
USD1 is a dollar-pegged stablecoin launched by WLFI in April, reportedly featuring a 1:1 collateral structure that complies with U.S. Treasury standards.
Meanwhile, the U.S. stablecoin regulation bill known as the GENIUS Act recently passed a procedural vote in the Senate with a 66 to 32 vote, increasing the likelihood of its passage in the full session. Despite concerns over potential conflicts of interest with digital asset ventures directly involving the Trump family, the bill is progressing through the legislative process with bipartisan support from some members of both parties.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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