Binance News: WLFI Launches USD1 Stablecoin Backed by Donald Trump, Available on Ethereum and Binance BNB Blockchains

A significant development in the cryptocurrency world has emerged, with World Liberty Financial (WLFI), a DeFi venture supported by former US President Donald Trump, launching a new stablecoin. Here’s a closer look at this latest addition to the digital asset market.

Donald Trump-Backed WLFI Launches USD1 Stablecoin

World Liberty Financial (WLFI), the DeFi venture backed by US President Donald Trump, has launched a stablecoin called USD1. Pegged to the US dollar, the token is designed to function as a digital asset equivalent to the dollar and is currently available on both Ethereum and Binance’s BNB blockchains. Although the cryptocurrency went live in early March, WLFI has not issued an official announcement. Changpeng ’CZ’ Zhao, the former CEO of Binance, was among the first to publicly share the news. However, WLFI warned that USD1 is ’not currently tradable’ and urged the community to be aware of scams.

Binance Suspends Employee for Insider Trading and Front-Running Allegations

Binance has suspended a staff member accused of using insider information from a previous role at BNB Chain to front-run a token launch. The action follows an internal investigation launched on March 23 after a complaint was filed with the exchange’s internal audit team. The suspect, who was part of the Binance Wallet team at the time of the alleged misconduct, should not have had access to non-public information about the project involved. However, the platform’s investigation revealed that before being transferred to the department, the employee had worked in business development at BNB Chain. Using insights from his previous role and familiarity with on-chain projects, the accused anticipated a market reaction to an upcoming token generation event (TGE). The investigation is ongoing.