The Trump family's World Liberty Financial #WLF issued $USD1 a few hours after the speech by Federal Reserve Board member Christopher Waller, who highly praised the potential of stablecoins.
Record issuance of USD1
On August 21, World Liberty announced on social media X that it had issued $205 million of its stablecoin USD1. This decision increased the token supply to a record $2.4 billion — the first significant growth since the end of April.
Since its launch in early April, the stablecoin backed by the Trump family has become the sixth largest in the world by market capitalization. The leader remains Tether USDT from Tether with a volume of $167 billion and a 60% market share, followed by $USDC from Circle Internet Group with a capitalization of $67.4 billion and a 24% share.
Support from regulators
The issuance of USD1 occurred just hours after Federal Reserve Governor Waller's speech at a blockchain conference in Wyoming. The official expressed his support for cryptocurrencies, specifically highlighting stablecoins.
'I believe that stablecoins can support and expand the role of the dollar internationally,' Waller said. He also added that stablecoins could improve retail and cross-border payments.
A representative of the Federal Reserve emphasized the importance of the GENIUS Act, signed last month, which regulates stablecoins. According to him, this is an 'important step for the payment stablecoin market that will help them realize their full potential.'
A similar position was expressed by SEC Chair Paul Atkins, who on August 19 called the bill a 'landmark step for Congress and the U.S. government.'
The project's assets reached a maximum
The recent issuance of USD1 increased World Liberty Financial's assets to a record $548 million, according to Nansen data. The stablecoin now constitutes the largest cryptocurrency position for World Liberty — $212 million, or 39% of the total portfolio.
The next largest asset in the project is Aave Ethereum USDT (AETHUSDT) valued at $85 million, along with an equivalent stake in Ethereum, as the project holds 19,650 $ETH .
