The Trump family’s cryptocurrency business has seen billions in gains since last year’s election, driven largely by the performance of its stablecoin, USD1, issued by World Liberty Financial.
What Happened: A central factor in this surge is the token’s deep integration with PancakeSwap CAKE/USD, a decentralized exchange reportedly developed and maintained by Binance, the world’s largest crypto exchange, The Wall Street Journal reported on Wednesday.
PancakeSwap has served as a launchpad for USD1 adoption, encouraging traders to pair it with newly minted tokens such as Torch of Liberty and Eagles Landing.
These tokens, with overtly patriotic branding, were introduced this year to promote USD1 usage and liquidity.
Since May, USD1’s trading volume on PancakeSwap has soared, accounting for over 90% of the token’s total activity.
Much of this volume was fueled by incentive programs offering rewards of up to $1 million for high-frequency trading of USD1.
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Why It Matters: Researchers and participants have noted that Binance’s backing of USD1 has been a key driver of market attention.
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Binance’s founder, Changpeng Zhao, who last year served a U.S. prison sentence after the company paid a $4.3 billion settlement for regulatory violations, is reportedly seeking a presidential pardon.
At the same time, Binance’s involvement in USD1’s growth has coincided with expanded ties between Zhao’s network and the Trump family’s crypto operations.
World Liberty Financial, co-founded by Eric Trump, was launched during Donald Trump’s presidential campaign with the stated aim of strengthening U.S. leadership in the digital asset sector.
The company has positioned USD1 as a stablecoin pegged to the U.S. dollar, with reserves invested in government bonds and money-market funds.
Trump family filings show their stake in the token is now worth approximately $4.5 billion.
The project’s links to Binance, PancakeSwap, and investors with ties to China come even as Trump’s political platform continues to emphasize curbing U.S. corporate connections to Chinese interests.
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