The cryptocurrency project supported by U.S. President Donald Trump, World Liberty Financial, unexpectedly distributed the USD1 stablecoin to wallets that purchased its own token WLFI.
In an event detected by blockchain analysis platforms Lookonchain and SlowMist, each WLFI holder's wallet was unexpectedly distributed 47 USD1 stablecoins through a transfer conducted late Tuesday night on Ethereum. According to Etherscan data, the distribution was carried out in bulk. Previously, the project had stated that over 85,000 participants who participated in the WLFI token sale in March had passed identity verification (KYC).
World Liberty has not officially announced the USD1 airdrop, but had previously proposed a distribution of a 'small amount' of USD1 to token holders. The proposal aimed to test the airdrop function on the Ethereum mainnet, promote the stablecoin, and thank those who support the project. The voting for this proposal resulted in an overwhelming support of 99.96%.
The USD1 stablecoin, which was released in March and is reportedly fully backed by U.S. Treasury bonds, dollar deposits, and other cash equivalents, has recently attracted significant interest. As regulations such as the GENIUS Act discussed in the U.S. Congress bring the security and transparency of stablecoins into focus, the market value of dollar-backed stablecoins has exceeded $250 billion with Trump’s open support.
However, there are concerns about centralization regarding USD1. According to Dune Analytics data, 84.4% of the stablecoin supply is held in just two wallets, and a third wallet owns 9.5% of the supply. It remains unclear whether these wallets belong to World Liberty Financial, the well-known investor Justin Sun, or custody service providers like BitGo.
