Exchange's Involvement in USD1 Development

New evidence suggests cryptocurrency giant Binance played a significant technical role in developing the USD1 stablecoin issued by World Liberty Financial (WLF), a digital asset venture connected to former U.S. President Donald Trump. Bloomberg's July 11 report indicates Binance's engineers contributed to the underlying codebase of the Trump family-backed stablecoin project.

Financial Ties and Transaction Patterns

The investigation reveals Binance not only provided technical support but also facilitated the largest recorded USD1 transaction. 【90%】 of the stablecoins involved in MGX's $2 billion investment announcement remained in Binance-controlled wallets, potentially generating substantial interest income for WLF stakeholders. ——This financial arrangement raises questions about revenue-sharing models between the exchange and the Trump-affiliated company——.

Political and Regulatory Implications

The timing of these revelations coincides with crucial legislative developments in Washington. House Republicans are preparing to debate the GENIUS Act, which includes provisions for stablecoin regulation. Interestingly, the bill's name references a characteristic Trump social media style, adding another layer to the political narrative.

Ongoing Investigations and Responses

Neither Binance nor WLF representatives responded to immediate requests for comment. The report emerges months after former Binance CEO Changpeng Zhao sought a presidential pardon from Trump, though no direct connection between these events has been established. Legal analysts note the situation presents potential conflict-of-interest considerations given Trump's current presidential campaign.

Market Impact and Future Outlook

Cryptocurrency markets showed muted reaction to the news, with Bitcoin maintaining its position around $57,000. However, industry observers suggest the developments could influence upcoming congressional votes on digital asset legislation, particularly regarding stablecoin issuers' transparency requirements.