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Binance Allegedly Wrote the Code for WLFI’s Stablecoin USD1
A recent Bloomberg report has raised eyebrows in the crypto community as it suggests that Binance allegedly wrote the code for WLFI’s stablecoin USD1. According to three sources familiar with the matter, this alleged involvement allows USD1 to be utilized in a massive $2 billion investment made by UAE-based MGX. Shockingly, blockchain data reviewed by Bloomberg reveals that approximately 90% of USD1’s total supply is stored in Binance wallets.
The USD1 stablecoin, launched by World Liberty Financial (WLFI), has piqued interest due to its potential connections to the Trump family. It appears that WLFI co-founder and Trump ally Steve Witkoff plans to transfer his World Liberty Financial interests to his adult sons, as per a White House counsel announcement.
Former Binance CEO Changpeng Zhao allegedly supported several crypto projects tied to the Trump family while privately seeking a presidential pardon, according to Bloomberg. This revelation sparks concerns about potential conflicts of interest and raises questions regarding the integrity of this new stablecoin.
Source: cryptoslate.com
