The USD1 token of the decentralized finance project of the Trump family, World Liberty Financial (WLFI), has seen a significant increase in supply after the treasury minted more than $205 million within hours of U.S. Federal Reserve Governor Christopher Waller's speech, in which he affirmed his support for stablecoins and their role in enhancing the dollar's status globally.
According to what the company posted on platform X on Thursday, the total supply of USD1 has risen to $2.4 billion, the highest level since the currency's launch in April, making it the sixth largest stablecoin globally by market capitalization. It is preceded in ranking by Tether (USDT) valued at $167 billion with a market share of 60%, and Circle's USDC valued at $67.4 billion with a market share of nearly 24%.
Waller's statements give a strong boost to the market
In his speech in Wyoming, Waller clarified that stablecoins are capable of enhancing the role of the dollar internationally and improving domestic and cross-border payment systems. He also praised the recently signed GENIUS law to regulate the stablecoin market, describing it as "an important step towards enabling these digital assets to reach their full potential."
These statements align with what U.S. Securities and Exchange Commission Chairman Paul Atkins mentioned days ago when he described the new law as a "pivotal shift" in the regulation of the sector.
WLFI Treasury at its highest levels
The recent minting process has increased the assets of World Liberty Treasury to $548 million, according to data from the Nansen platform. The USD1 token represents 39% of the company's portfolio, valued at $212 million, followed by investments in AETHUSDT worth $85 million, in addition to significant reserves of Ethereum (ETH) amounting to approximately 19,650 ETH.
Previous reports revealed that the company is considering listing a new entity for public trading to own WLFI tokens, with a financing plan aimed at raising about $1.5 billion.