The DeFi project backed by the Trump family, World Liberty Financial (WLF), has distributed USD1 stablecoins to holders of its native token WLFI. This is indicated by data from analytics platforms Lookonchain and MistTrack.
On June 3, a wallet associated with the company sent 47 stablecoins to each address holding WLFI. Data from Etherscan confirms these transactions.
Journalist Colin Wu speculated that this number of coins might symbolize Donald Trump, the current 47th President of the United States.
Officially, WLF has neither announced nor confirmed the current airdrop. However, the project had previously proposed distributing a “small amount” of USD1 among WLFI holders.
In May, the proposal for the distribution was put to a vote, where it was supported by 99.96% of participants.
USD1 was launched in March and is fully backed by short-term US Treasury bills, dollar deposits, and other cash equivalents.
Meanwhile, the involvement of Trump and his family in WLF raises concerns about potential conflicts of interest. According to the project’s documentation, Trump and his three sons serve as ambassadors or advisors.
Another issue related to USD1 is its centralization. According to Dune Analytics, two wallets hold 84.4% of the total token supply, with another 9.5% concentrated in a third wallet. It remains unclear whether these addresses are controlled by World Liberty Financial itself, major investors, or custodians.
Back in May, 20 Democratic senators introduced a bill prohibiting the president, vice president, members of Congress, and their families from issuing or promoting cryptocurrencies.
