Trump Family's Stablecoin Surges After Fed Speech

World Liberty Financial, a decentralized finance initiative backed by the Trump family, minted over $200 million in its stablecoin, USD1, shortly after Federal Reserve Governor Christopher Waller praised stablecoins in a speech. This minting increased the total supply to a record $2.4 billion, marking the first significant rise since April. Launched in early April, USD1 has quickly become the sixth-largest stablecoin globally, following Tether and Circle Internet Group's USDC. Waller emphasized the potential of stablecoins to enhance the dollar's international role and improve retail and cross-border payments. He also highlighted the importance of the recently signed GENIUS Act for the stablecoin market. Following the minting, World Liberty's treasury reached $548 million, with USD1 now representing 39% of its total portfolio. The project is also considering creating a publicly traded company to manage its WLFI tokens, aiming to raise approximately $1.5 billion. Read more AI-generated news on: https://app.chaingpt.org/news