Trump Family-Backed Stablecoin USD1 Tops $2B as WLFI DeFi Launch Nears

• The USD1 token is a stablecoin pegged 1:1 with the U.S. dollar, backed by dollar deposits, cash equivalents, and U.S. Treasuries.
• The WLFI token sale raised $550 million across more than 85,000 participants.
• USD1’s market cap has increased from $128 million to $2.12 billion in just under 72 hours.

Trump family-backed crypto firm, World Liberty Financial (WLFI), is pressing ahead with plans to launch its decentralized finance (DeFi) platform following the explosive debut of its USD1 stablecoin.

With USD1’s market cap already topping $2 billion, attention is now turning to whether the project can follow through on its proposed airdrop and bring its much-hyped WLFI DeFi platform to life.

Market Cap Boom

After a notably quiet debut, the USD1 stablecoin has experienced explosive growth over the past 48 hours.

According to data from CoinGecko , USD1 held a market cap of just $128 million on April 28, 2025. That figure jumped by roughly $600 million within hours.

By April 29, the stablecoin had added another $1.2 billion, pushing its total valuation to $2.12 billion as of April 30.

The sudden rise makes USD1 the 57th most valuable cryptocurrency overall and the seventh-largest stablecoin by market cap, leapfrogging PayPal USD and First Digital USD (FDUSD).

With the Trump-linked WLFI DeFi project still pending launch, and an airdrop of USD1 tokens proposed for WLFI holders, the crypto community is watching closely to see if the hype translates into long-term traction.

USD1 Airdrop

According to the latest proposal , World Liberty Financial is looking to test its new technology by distributing its USD1 stablecoin to WLFI token holders.

The airdrop, which will take place via the Ethereum network, aims to engage the community and test the functionality of the stablecoin.

Under the proposal, every wallet holding WLFI tokens, regardless of the amount, will be eligible for the airdrop.

The WLFI token sale, which raised $550 million, attracted more than 85,000 participants, further expanding the potential reach of the distribution.

However, the proposal also includes a noteworthy clause stating:

“Even if approved, World Liberty Financial, Inc. reserves the right to discontinue, suspend, modify, or terminate the test airdrop at any time as well as to establish any additional eligibility requirements.”

USD1, the stablecoin being distributed, is backed by U.S. dollars, cash equivalents, and U.S. Treasuries.

It will be minted on the Ethereum network, though WLFI also plans to mint the coin on Binance’s BNB Chain. There is currently no indication that BNB Chain will be involved in the test airdrop.

The response on the forum has been overwhelmingly positive, with many community members eagerly commenting “yes,” making it likely that the proposal will pass with minimal opposition.

Perfect Timing

WLFI stands to win big from Donald Trump’s pro-crypto policies, aside from creating a Bitcoin Strategic Reserve and appointing crypto backers to vital positions of power within his administration.

The big win for WLFI is Trump’s executive order to ban central bank digital currencies (CBDCs), which has effectively paved the way for the GENIUS stablecoin bill to rapidly advance through Congress.

If passed, the GENIUS Act would bring clarity to the crypto space, open up new revenue streams, create jobs, and further promote global U.S. dollar dominance.

This shift in sentiment has been so profound that Tether (USDT), the largest stablecoin issuer in the world, is now considering creating and launching a stablecoin exclusively for the U.S. market.

Unfortunately, there are concerns about conflicts of interest as the Trump family is set to receive 75% of all WLFI revenues.

In addition, Trump’s pro-crypto agenda will only serve to bolster WLFI’s market position, and it’s unlikely they’d want to implement policies that jeopardize these aims.