World Liberty Financial issued the USD1 stablecoin worth $205 million, raising its supply to $2.4 billion, an increase of 9%.
ALT5 Sigma, the treasury arm of World Liberty, denied the insider trading allegations related to shareholder John Isaac and the SEC investigation.
The growth of USD1 supports World Liberty's upcoming launch of the WLFI token, scheduled for next month, with community-focused governance.
Backed by Trump, World Liberty Financial just added $205 million of its stablecoin USD1 to circulation, bringing the total supply to $2.4 billion. This represents a 9% jump, making USD1 the sixth largest stablecoin by market capitalization. This comes as World Liberty prepares to launch its governance token WLFI next month.
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According to Nansen, USD1 now makes up nearly 40% of World Liberty's treasury, which totals $548 million, surpassing other assets like AETHUSDT.
Growth of stablecoins and insider trading speculation
ALT5 Sigma, a partner of World Liberty in treasury management, has been implicated in insider trading allegations related to a $1.5 billion funding round. Some reports pointed fingers at investor John Isaac, stating he is under scrutiny by the SEC. Both ALT5 Sigma and Isaac have strongly denied these allegations.
The company stated that it is not aware of any investigation by the U.S. Securities and Exchange Commission (SEC), and Isaac clarified that he is not an executive at ALT5, even though he owns more than a million shares. In 2024, Isaac signed a consulting agreement with ALT5 Sigma to help develop products and engage with customers.
This agreement included issuing bonds worth $540,000, which later converted into shares. His name also appeared in reports regarding inflated profits and stock sales, prompting discussions about a funding round aimed at bolstering USD1 reserves.
World Liberty is focused on the bigger picture. The launch of the WLFI token will prioritize community engagement, with fair slots and governance votes. Major cryptocurrencies are expected to be listed on exchanges in the next two months.
The rapid growth of USD1 indicates a significant interest in politically-themed stablecoins. For World Liberty, the challenge lies in maintaining investor confidence while striving for further growth. Trust and transparency will be essential pillars in its journey.
