The Trump family–backed decentralized finance venture, World Liberty Financial, minted more than $200 million worth of its stablecoin just hours after Federal Reserve Governor Christopher Waller delivered remarks praising stablecoins.
In a post on X Thursday, World Liberty said it had issued $205 million of its USD1 stablecoin for the project’s treasury, pushing the token’s circulating supply to a record $2.4 billion, its first major jump since late April.
Launched in early April, the USD1 token has already grown into the world’s sixth-largest stablecoin by market capitalization. Tether remains the leader with a $167 billion market cap and about 60% market share, followed by Circle’s USDC with $67.4 billion in circulation and a 24% share.
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SEC Chair Bullish on Stablecoins
The USD1 mint came just hours after Federal Reserve Governor Christopher Waller delivered a strongly pro-crypto speech that highlighted the potential of stablecoins.
“I believe that stablecoins have the potential to maintain and extend the role of the dollar internationally. Stablecoins also have the potential to improve retail and cross-border payments.”
Christopher Waller
He praised the recently enacted GENIUS Act, the new law regulating payment stablecoins, calling it “an important step for the payment stablecoin market” that could help the sector “reach its full potential.”
Trump-Backed Project Expands Treasury Holdings
The latest USD1 mint has pushed World Liberty Financial’s (WLFI) treasury holdings to a record $548 million, according to blockchain analytics firm Nansen.
USD1 has now become the project’s largest single holding, valued at $212 million, which accounts for 39% of its total portfolio. WLFI’s next biggest investment is Aave Ethereum USDT (AETHUSDT) at $85 million, alongside an equivalent stake in Ether (ETH), with the project holding 19,650 ETH worth about $4,282 each.
Earlier this month, reports suggested that World Liberty Financial is considering the creation of a publicly traded company to hold its WLFI tokens, targeting a $1.5 billion fundraising round.
