The Trump family’s decentralized finance venture, World Liberty Financial, minted over $200 million worth of its USD1 stablecoin just hours after Federal Reserve Governor Christopher Waller delivered remarks praising stablecoins.
In a post on X Thursday, World Liberty said it had added $205 million USD1 to its treasury, lifting the token’s total supply to a record $2.4 billion—the first major issuance since late April.
Launched in early April, the Trump-backed stablecoin has quickly risen to become the sixth-largest globally by market capitalization. The market remains dominated by Tether, with a $167 billion supply and roughly 60% share, followed by Circle’s USDC at $67.4 billion and a 24% share.
Fed Governor and SEC Chair Express Optimism on Stablecoins
The USD1 mint occurred just hours after Federal Reserve Governor Christopher Waller delivered a pro-crypto speech highlighting stablecoins.
“I believe stablecoins have the potential to maintain and extend the role of the dollar internationally,” Waller said Wednesday at a blockchain conference in Wyoming.
He added that stablecoins could also enhance retail and cross-border payments. Waller praised the GENIUS Act, recently signed into law, calling it “an important step for the payment stablecoin market” that could help these digital assets reach their full potential.
His remarks echoed those of Securities and Exchange Commission Chair Paul Atkins, who on August 19 described the bill as a “seminal step for the US Congress and government.”
World Liberty Financial Treasury Hits Record High
The recent USD1 mint has pushed World Liberty Financial’s treasury to a record $548 million, according to Nansen.
USD1 is now the project’s largest crypto holding, valued at $212 million and making up 39% of its total portfolio. The next-largest investment is Aave Ethereum USDT (AETHUSDT) at $85 million, alongside an equivalent stake in Ether, with the project holding 19,650 ETH.
Earlier this month, reports indicated that World Liberty Financial is considering forming a publicly traded company to hold its WLFI tokens, aiming to raise approximately $1.5 billion.
