Crypto observers were speculating on Monday that World Liberty Financial (WLFI), the decentralized finance (DeFi) platform backed by U.S. President Donald Trump and his family, might be testing its long-awaited dollar stablecoin before rolling out for the broader public.

Blockchain sleuths earlier today noted a flurry of activity with a token labeled as World Liberty Financial USD (USD1) on blockchain monitoring websites Etherscan and BscScan. Blockchain data shows that USD1 was deployed earlier this month on the Ethereum and BNB Chain networks and series of transactions with the token occurring over the past couple weeks.

Some transfers included addresses linked to Wintermute, a large digital asset trading firm and market maker, and crypto custodian BitGo, according to Arkham Intelligence data. The token’s supply currently stood at around 3.5 million-3.5 million on Ethereum and BNB Chain, per Etherscan and BscScan.

Changpeng CZ Zhao, founder of crypto exchange giant Binance, brought widespread attention to the token by “welcoming” the project on BNB Chain in a post with a screenshot of the USD1 BscScan profile shared with his 10 million followers. The post, he later said, triggered a wave of copy-cats aiming to capitalize on the new-found attention.

WLFI, reacting in a X post, said USD1 is not currently available for trading and crypto users should beware of scams.

Stablecoin buzz

WLFI, a project spearheaded by Zachary Folkman and Chase Herro, made a splash last year as one of the first crypto projects enjoying the backing of Trump. The protocol aims to provide a blockchain-based marketplace where users can borrow and lend cryptocurrencies, create liquidity pools and transact with stablecoins.

It’s been widely known that the project is working on crafting its own stablecoin, but there hasn’t been any official communication about exact plans and timing of launching the token publicly. CoinDesk has reached out to the team, but hasn’t received any replies.

Stablecoins are one of the fastest-growing corners of the crypto industry and widely regarded as the killer use case for blockchains. With their prices pegged to an external asset, predominantly to the U.S. dollar, they are widely used as a crypto trading pair and transactions on blockchain rails. They are also increasingly used for everyday payments, remittances and savings, attracting the attention of many venture capital investors.

Buzz around the asset class rejuvenated over the past months as the Trump administration elevated stablecoin regulation to the top of its crypto agenda. Treasury Secretary Scott Bessent said that stablecoins have a key role in preserving the U.S. dollar’s global role as a reserve currency.

Digital assets and equities are soaring on the weekly open amid renewed optimism stemming from the White House taking a softer tone on tariffs.

While tariff threats initially sparked one of the worst stock market drawdowns in recent memory, reports are now suggesting that President Trump’s aggressive trade negotiations may be in the process of a smooth resolution.

Citing “US officials familiar with the matter,” Bloomberg reports that Trump’s reciprocal tariffs may be more targeted than initially anticipated, with some countries being exempt, and some sector-specific levies being delayed by the White House.

The Wall Street Journal reported similar information.

All major stock indices opened the week well into the green, while Bitcoin (BTC) is up 3% on the day and is now up 15% from its 2025 low near $76,500.

Said Tobin Marcus of Wolfe Research in a note seen by CNBC,

“Omitting the sectoral tariffs from the April 2nd package significantly reduces both its aggregate scale and the maximum rate on targeted sectors, given that all of Trump’s tariffs to date have been designed to stack… The ceiling for reciprocal tariffs on April 2 remains dramatic, and we still expect a negative market reaction, but the scale won’t be as severe and the sectoral impacts won’t be as concentrated.”

However, in a post on Truth Social, President Trump announced that “secondary tariffs” would be placed on Venezuela and any country that purchases oil and/or gas from the country. Trump cited numerous reasons, including “the fact that Venezuela has purposefully and deceitfully sent to the United States, undercover, tens of thousands of high level, and other, criminals, many of whom are murderers and people of a very violent nature.”

At time of writing, BTC is trading at $88,013.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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