World Liberty Financial, backed by US President Donald Trump, said the USD1 stablecoin launched on March 4 was “not currently tradeable.“
The Donald Trump-backed crypto venture World Liberty Financial launched a US dollar-pegged stablecoin with a total supply of more than $3.5 million.
According to data from Etherscan and BscScan, the project launched the World Liberty Financial USD (USD1) token in early March. Former Binance CEO Changpeng “CZ” Zhao noted the project’s smart contract was deployed on the BNB Chain and Ethereum, while World Liberty said the stablecoin was “not currently tradeable.”
The USD1 stablecoin launch comes as US lawmakers consider passing the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS, Act. The bill moved out of the Senate Banking Committee on March 13 and is expected to be taken up for a full floor vote soon.