Binance Wrote Code for Trump-Linked USD1 Stablecoin, Facilitated $2 Billion Transaction

The world’s largest digital asset exchange by trading volume, Binance, may have played a more significant role in the development of World Liberty Financial’s stablecoin USD1 than previously known. According to reports, Binance wrote the code for World Liberty Financial’s USD1 stablecoin smart contract. Once coded and promoted, Binance also facilitated a $2 billion transaction completed in USD1. Approximately 90% of all USD1 remains in Binance-controlled wallets.

USD1 was launched in March 2025. Two months later, former Binance CEO Changpeng Zhao, who was convicted in 2023 of failing to maintain proper anti-money-laundering standards at Binance and had already served a short prison term, confirmed that he had applied for a presidential pardon during a podcast interview. This news spurred three U.S. senators to write a letter to the White House seeking answers regarding the pardon application and Binance’s financial entanglements with the President’s family.

The senators expressed concerns about the integrity of the justice system, given the convergence of Zhao’s pardon application and Binance’s financial dealings with World Liberty Financial, a cryptocurrency company financially linked to Trump and his family. Despite stepping down from his role as CEO after pleading guilty to these charges, Zhao still owns 90% of the company. World Liberty Financial is linked with Donald Trump but apparently not controlled by him, escaping any conflict of interest with his presidential duties. Trump has reportedly placed all his assets in a trust controlled by his oldest son.

According to a World Liberty Financial spokesperson, the reporting is “factually deficient and designed to further a political agenda.” A Binance spokesperson reiterated that Zhao is no longer the exchange’s CEO. The involvement of Binance in the Trump-linked crypto firm raises questions about potential conflicts of interest, especially considering that Changpeng Zhao, the founder and majority owner of Binance, sought a presidential pardon around the same time. The pardon request was reportedly made in the context of ongoing legal and regulatory scrutiny faced by Binance and the broader cryptocurrency industry. The timing of these events suggests a complex interplay between political influence and the cryptocurrency market.

The stablecoin USD1, which was created with the help of Binance, has significant implications for the cryptocurrency ecosystem. Stablecoins are designed to maintain a stable value, often pegged to a fiat currency like the U.S. dollar, and are used for various purposes, including trading, remittances, and as a store of value. The involvement of a major exchange like Binance in the creation of a stablecoin linked to a high-profile political figure underscores the growing intersection between politics and the cryptocurrency industry.

The report also highlights the extensive support Binance provided to World Liberty Financial, including the development of the smart contract for USD1. This support involved significant technical expertise and resources, further emphasizing the strategic importance of the stablecoin to both Binance and World Liberty Financial. The collaboration between the two entities raises questions about the motivations behind Binance's involvement and the potential benefits it sought to gain from supporting a Trump-linked firm.

The revelation that Binance assisted in the creation of USD1 comes at a time when the cryptocurrency industry is facing increased scrutiny from regulators worldwide. The involvement of a major exchange in the development of a stablecoin linked to a political figure adds another layer of complexity to the regulatory landscape. It also underscores the need for greater transparency and accountability in the cryptocurrency industry, particularly in relation to the development and promotion of stablecoins.

The $2 billion investment by Binance in World Liberty Financial further highlights the financial stakes involved in the collaboration between the two entities. This investment, which was made before Zhao sought a presidential pardon, suggests that Binance had a significant financial interest in the success of USD1. The investment also raises questions about the potential influence of political connections on the cryptocurrency market and the broader financial system.