The Trump family's DeFi project has minted $205 million, pushing its treasury holdings and stablecoin supply to historic highs.
Hours after Federal Reserve Governor Christopher Waller praised stablecoins, the Trump family's decentralized finance project, World Liberty Financial, minted stablecoins worth over $200 million.
World Liberty announced on X on Thursday that it minted $205 million in stablecoin USD1 for its treasury, bringing its supply to a record $2.4 billion, marking the first significant growth since the end of April.
Since its launch in early April, the stablecoin supported by the Trump family has become the sixth largest stablecoin by global market capitalization, with Tether's stablecoin, valued at $167 billion, holding 60% market share, followed by Circle Internet Group's USDC, valued at $67.4 billion, holding 24% market share.
Federal Reserve Governor and SEC Chair optimistic about stablecoins
Just hours after Federal Reserve Chair Waller's supportive speech on cryptocurrencies (with a special emphasis on stablecoins), $1 coins were issued.
Waller stated at a blockchain conference in Wyoming on Wednesday, "I believe stablecoins have the potential to maintain and expand the dollar's position internationally."
He added, "Stablecoins still have the potential to improve retail and cross-border payments."
Waller stated that the stablecoin regulatory bill (GENIUS Act) signed into law last month is "an important step for the payment stablecoin market, which can help stablecoins realize their full potential."
This echoes comments from SEC Chair Paul Atkins, who stated on August 19 that the bill is "a groundbreaking step for the U.S. Congress and government."
WLFI's treasury holdings reached a historical high
Nansen stated that the recently minted $1 bills increased WLFI's treasury holdings to a record $548 million.
This stablecoin is currently World Liberty's largest cryptocurrency holding, valued at $212 million, accounting for 39% of its total portfolio. Aave Ethereum USDT (AETHUSDT) is the project's second-largest investment, valued at $85 million, alongside an equivalent value in Ether, with the project holding 19,650 ETH.
Earlier this month, reports indicated that World Liberty Financial is exploring the creation of a publicly traded company to hold its WLFI tokens, with a fundraising target of approximately $1.5 billion.
