Well, hold onto your digital wallets, folks! The colossal crypto exchange, Binance, has just dropped the bombshell that it will be listing the World Liberty Financial USD (USD1). Mark your calendars for May 22, 2025, at precisely 12:00 UTC, because that’s when the USD1/USDT trading pair will make its grand debut. It’s already strutting its stuff on exchanges like KuCoin, but let’s be honest, who doesn’t want to be on Binance?
Now, about this USD1—BitGo Trust, a company that’s as regulated as a cat in a room full of rocking chairs, has been hoarding dollars in the form of cash, short-term U.S. Treasuries, and dollar deposits. They claim to keep some reserve information under wraps, but don’t worry, they’re fully compliant with U.S. regulations, including those pesky AML and KYC requirements. Because nothing says “trust me” like a stablecoin with a side of bureaucracy!
And here’s the kicker: World Liberty Financial (WLFI), the fintech company that’s apparently got ties to the family of the 47th President, has launched USD1 after it skyrocketed since its debut in March 2025. WLFI proudly dubs Trump the Chief Crypto Advocate, while his sons are busy being the platform’s Web3 Ambassadors. Because if there’s one thing we need, it’s more political dynasties in the crypto space!
In just three months, USD1 has managed to balloon its market cap to a staggering $2.3 billion, making it the seventh-largest USD-backed stablecoin. This meteoric rise is thanks to a cool $2 billion investment from Abu Dhabi’s MGX and a growing number of folks using Kraken for retail payments and DeFi. Right now, you can find this token lounging on Ethereum and BNB Chain, with plans to expand to other blockchains using Chainlink’s interoperability solution. Because why not throw a blockchain party?
According to the announcement, transfers in USD will be a go starting May 23, 2025, at 12:00 UTC—unless, of course, they decide to change the timing because, you know, preparation is key. Or maybe they just want to keep us on our toes!
Despite its rapid expansion, USD1 hasn’t escaped the watchful eyes of skeptics. Many U.S. lawmakers, particularly from the Democratic side of the Senate, have raised eyebrows over potential issues stemming from political connections. But WLFI has responded to Congress with a resounding “meh,” calling the criticism “fundamentally flawed.” Because who needs accountability when you have a stablecoin?
Even with all the scrutiny, getting USD1 onto Binance, the biggest exchange in the crypto universe, could significantly boost its liquidity, enhance its visibility, and maybe even give popular stablecoins like Tether (USDT) and USD Coin (USDC) a run for their money. Buckle up, it’s going to be a wild ride!
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2025-05-22 17:35