World Liberty Financial USD1 tops 5 billion as Trump meme coin loses steam
World Liberty Financials USD1 stablecoin crossed a $5 billion market cap in under a year. It gained momentum after deeper Binance integration and after the token was used for MGXs $2 billion investment in the exchange. The group is seeking a US national trust bank charter as lawmakers flag conflict and national security concerns.
For crypto traders, the Trump orbit now includes two distinct narratives unfolding at the same time. A dollar token branded as infrastructure is gaining distribution, while the presidents official meme coin keeps drifting lower as the initial frenzy fades.
World Liberty Financials USD1 pushed past $5 billion in market capitalization this week, according to CoinGecko data. That puts it among the largest stablecoins, a notable jump for a product that has been live for less than a year.
The growth has been closely tied to Binance. USD1 drew broader attention after it was used to pay for MGXs $2 billion investment in Binance, a deal that immediately pulled Washington into the conversation. Binance founder Changpeng Zhao has said MGX chose USD1 for the transaction, and that he preferred crypto rails over traditional banking for the payment flow.
After that deal and a wave of political scrutiny, USD1 was integrated into more of Binances internal plumbing last month. Market analysts have suggested a meaningful share of recent growth has come through offshore channels such as Binance rewards.
World Liberty Financial is also trying to move the project closer to a regulated banking wrapper. The group has applied to the Office of the Comptroller of the Currency to form a national trust bank, which it says would handle USD1 issuance, redemption, conversions, custody, and reserve management under federal supervision.
That push has not quieted critics. Sen. Elizabeth Warren has warned US officials that USD1 could pose national security risks, pointing to activity on PancakeSwap and blockchain data she says links large flows to funds tied to North Korea.
Meanwhile, the Solana-based TRUMP meme coin is down more than 90% from its highs. Analysts quoted in the same report described the token as a high-risk technical trade after insiders reportedly extracted hundreds of millions in value, leaving holders with price action that has been hard to defend on fundamentals.
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