Coinbase Considers Listing Trump-Linked USD1 Stablecoin

Coinbase has revealed plans to include USD1, a stablecoin developed by World Liberty Financial (WLFI), a crypto project associated with former U.S. President Donald Trump, on its roadmap for future listings. The exchange stated that USD1 is under consideration for trading, subject to its internal review and approval process [1]. This development positions USD1 for potential access to Coinbase’s millions of users globally, which could significantly boost its adoption and market presence [1].

USD1, which is pegged to the U.S. dollar and backed by a reserve of the same, recently expanded its supply by $205 million, bringing the total supply to $2.4 billion. This increase, representing a 9% growth in circulation, has elevated USD1 to the sixth-largest stablecoin by market capitalization [2]. The stablecoin now constitutes nearly 40% of WLFI’s treasury reserves, which amount to $212.59 million [2].

The project has drawn attention due to its political branding and rapid growth. While it has been embraced as part of a broader trend of stablecoins with celebrity or political affiliations, its success will depend on the firm’s ability to maintain transparency and investor trust. World Liberty Financial has emphasized its commitment to expanding USD1’s market presence through governance and community-driven initiatives [2].

Amid this momentum, WLFI’s affiliated treasury firm, ALT5 Sigma, is addressing allegations of insider trading tied to venture capitalist Jon Isaac. The firm has denied any current investigations by the U.S. Securities and Exchange Commission (SEC) and clarified that Isaac does not hold any executive role within the organization. Isaac, who is the CEO of Nasdaq-listed Live Ventures, stated in a public post that his involvement with ALT5 Sigma is limited to strategic consulting [2].

Looking ahead, WLFI is reportedly preparing to launch a governance token, expected to be introduced in September. The token is anticipated to feature a community-focused unlock schedule and may be listed on major exchanges within two months [2].

As Coinbase moves forward with its listing plans, the USD1 stablecoin will be closely monitored by investors and regulators alike. The project’s political association and institutional support suggest it may become a significant player in the evolving stablecoin landscape [1].

Source:

[1] Coinbase Reveals Plans to List Trump-Backed USD1 Stablecoin (https://coindoo.com/coinbase-prepares-to-list-trump-backed-stablecoin-usd1/)

[2] Trump's World Liberty Expands USD1 Supply Amid ALT5 Sigma Allegations (https://coingape.com/trumps-world-liberty-expands-usd1-supply-amid-alt5-sigma-insider-trading-allegations/)