Trump’s crypto project to offer U.S. dollar-tracking stablecoin

“USD1 provides what algorithmic and anonymous crypto projects cannot — access to the power of DeFi underpinned by the credibility and safeguards of the most respected names in traditional finance,” Zach Witkoff, a co-founder of World Liberty, said in the statement. “We’re offering a digital dollar stablecoin that sovereign investors and major institutions can confidently integrate into their strategies for seamless, secure cross-border transactions.”
World Liberty had been engaged in discussions about doing business with crypto exchange Binance Holdings Ltd., Bloomberg News reported earlier this month. Binance founder Changpeng Zhao pleaded guilty in 2023 to anti-money laundering failures that allowed Binance to be used by criminal groups and terrorist organizations, including Hamas.
The talks included the possibility of Binance developing a stablecoin with World Liberty. Zhao later said on X that he and the exchange “have no business deals” with World Liberty or its principals. Zhao did not reply to a request for comment. Binance declined to comment.