Donald Trump’s crypto initiative, World Liberty Financial, went live on Sept. 1 with a market valuation above $7.4 billion, sparking heavy trading in its opening hours.

According to CoinMarketCap data, WLFI climbed 13% to $0.2525 shortly after launch, while its trading volume has already surpassed $1.8 billion across centralized and decentralized exchanges.

Notably, this rush of activity spilled over into the broader market.

According to Milk Road data, Ethereum gas fees, which hovered near zero before the token’s debut, surged to more than 60 gwei as traders competed to settle WLFI transactions on the chain.

This spike highlighted how much interest the Trump-linked token has generated among retail traders and institutions.

WLFI token

In a Sept.1 blog post, the World Liberty Financial team stated that the launch introduced more than 24.6 billion WLFI into circulation.

Out of this supply, about 10 billion tokens were retained by the project’s parent company, World Liberty Financial, Inc. Another 7.78 billion tokens were assigned to Alt5 Sigma Corporation, giving it close to eight percent of the total supply as part of its treasury strategy.

Nearly 2.9 billion tokens were directed toward exchange activity to maintain liquidity and support early marketing. At the same time, more than 4 billion were distributed to public sale participants with an initial 20 percent unlocked at launch.

The team stated that the remaining 76 billion tokens are “subject to vesting schedules or are otherwise locked.” These tokens belong to its strategic partners, the project’s team, and its treasury.

Trump Jr. framed the token as central to the project’s long-term mission, emphasizing that WLFI is designed as a governance layer rather than a speculative instrument.

Meanwhile, Tron founder Justin Sun, who publicly aligned himself with the project, reinforced this position by pledging not to sell his unlocked holdings.

He also announced that to mark the launch, USD1 circulation on Tron would expand to $200 million, linking the success of WLFI with broader stablecoin growth on his blockchain.

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Binance founder Changpeng Zhao or CZ threatened to sue news agency Bloomberg for a second time over its report alleging links between the exchange and the USD1 stablecoin.

In an X post on Friday, CZ called the article “another hit piece” that was “sponsored by a competitor,” without explicitly naming the competitor. He dismissed it as a report meant to sow fear, uncertainty, and doubt, popularly referred to in crypto lingo as FUD.

CZ stated that the Bloomberg report contains “so many factual errors I don’t even know where to begin,” adding:

“Might have to sue them again for defamation.”

The contentious Bloomberg report

At the center of CZ’s legal threat is a Bloomberg report published on Friday. Citing three anonymous sources, the report alleged that Binance had developed the basic smart contract code that powers the USD1 stablecoin.

World Liberty Financial, a crypto firm linked to U.S. President Donald Trump and his sons, launched USD1 on May 22. The same day, The Wall Street Journal published a report claiming that CZ was playing the role of a ‘fixer,’ introducing the World Liberty Financial team to international dignitaries. CZ denied the claims in the report.

The launch of USD1 came nearly a month after World Liberty Financial founders met with CZ amid a global adoption push. Soon after, an Abu Dhabi-based firm made a $2 billion investment in Binance, which was settled using USD1. The Bloomberg report further claimed that nearly 90% of all USD1 remains in Binance’s wallets, potentially generating tens of millions of dollars in interest for the Trump family.

Soon after the Binance deal involving USD1, CZ sought a pardon from Trump. CZ was convicted and was released after four months in prison last year for failing to maintain appropriate guardrails on Binance to prevent money laundering.

The Bloomberg article claimed that CZ’s expectation of a pardon amid Binance’s close ties to World Liberty Financial raises questions of conflict of interest.

It is worth noting that the crypto community is overwhelmingly in support of CZ, with most users urging CZ to go ahead with the defamation lawsuit against Bloomberg.

CZ’s lawsuits against Bloomberg and other media

CZ has sued media agencies multiple times before. He sued Modern Media, a Hong Kong publisher for Bloomberg, for its July 6, 2022 magazine article alleging that CZ was operating a ponzi scheme. It’s worth noting that Bloomberg itself was not a party in the lawsuit.

In July last year, Modern Media issued an apology to CZ and Binance after it lost a two-year long legal battle. The news agency retracted the report titled “Changpeng Zhao’s Ponzi Scheme,” calling the headline “false and baseless.” At the time, Modern Media agreed to donate an agreed sum in lieu of paying damages.

Prior to the 2022 lawsuit, CZ had also sued Forbes in 2020 for a report alleging that Binance facilitated money laundering and deceived financial regulators. CZ, however, dropped the lawsuit in 2021. In 2022, Binance made a $200 million investment in Forbes.

CZ has also denied claims by other media outlets before. In April, CZ refuted a Wall Street Journal report alleging that he had agreed to testify against Tron founder Justin Sun as a smear campaign.

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World Liberty Financial, the decentralized finance platform linked to U.S. President Donald Trump’s family, has unveiled a proposal that would allow its WLFI governance token to become transferable and tradeable across the wider crypto market.

Currently confined within its own protocol, the WLFI token cannot be traded externally, restricting price discovery and limiting participation in governance. The team initially hinted at the new proposal last month.

The new proposal aims to shift the project toward a more open and decentralized model by enabling token trading on secondary markets such as decentralized exchanges and peer-to-peer platforms.

If the community endorses the plan, holders of WLFI tokens will gain expanded voting powers over key areas, including token emissions, ecosystem incentives, and treasury management.

The initiative comes as Trump’s deep involvement in digital assets continues to draw criticism from Democratic lawmakers, who have raised concerns over potential conflicts of interest. Transitioning WLFI to a decentralized structure could ease some of the political pressure currently stalling comprehensive crypto regulation efforts in Congress.

The Trump family recently reduced its ownership stake in World Liberty Financial by 20%, down from an initial 75% holding. Financial disclosures filed in June showed that President Trump had recorded $57 million in profits from WLFI alone.

Across his broader digital asset portfolio, including the Official Trump memecoin, non-fungible token sales, and holdings in other cryptocurrencies, Trump’s net worth has grown by an estimated $620 million. Digital assets now account for about 9% of his total $6.4 billion fortune.

In June, Democratic Congressman Adam Schiff introduced the COIN Act in response to the president’s crypto ventures. The act seeks to prohibit the President, executive branch officials, and their immediate families from issuing or promoting specific cryptocurrencies while in office.

WLFI is also conducting an independent audit of its USD1 stablecoin, which is seen as having strong potential to become a significant player in the market. USD1 currently has a circulating supply of $2.2 billion and was recently airdropped to WLFI holders to test on-chain distribution.

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World Liberty Financial (WLFI), a decentralized finance (DeFi) project endorsed by the Trump family, has signed a Letter of Intent (LOI) with the Pakistan Crypto Council to promote blockchain adoption and DeFi growth across Pakistan, TechJuice reported.

The agreement was formalized on April 26 during a high-level meeting between WLFI co-founders Zak Folkman, Zach Witkoff, and Chase Herro, alongside Pakistan’s Prime Minister and senior government officials.

The partnership aims to accelerate blockchain innovation by establishing regulatory sandboxes to test blockchain-based financial solutions.

WLFI Partnership with Pakistan Targets DeFi Growth

Key areas of collaboration include advancing DeFi protocols, exploring tokenization of real-world assets like real estate and commodities, expanding stablecoin use for remittances and trade, and offering strategic guidance on blockchain infrastructure and regulatory frameworks.

“Pakistan’s youth and technology sector are our greatest assets. Through partnerships like this, we are opening new doors for investment, innovation, and global leadership in the blockchain economy,” stated Finance Minister Muhammad Aurangzeb.

With over 25 million active crypto users and approximately $300 billion in annual crypto transactions, Pakistan is emerging as a significant player in the digital economy.

The country’s youthful demographic—over 64% under the age of 30—positions it well for rapid blockchain adoption.

Bilal Bin Saqib, CEO of the Pakistan Crypto Council, highlighted that the collaboration is designed to empower Pakistan’s young population and integrate the country into the evolving landscape of global finance.

Bin Saqib also recently joined WLFI as an advisor, further strengthening ties between the two entities.

Earlier this month, Binance co-founder Changpeng “CZ” Zhao was appointed Strategic Advisor to the Pakistan Crypto Council, signaling growing international interest in Pakistan’s crypto sector.

These developments follow reports from The Wall Street Journal suggesting that the Trump family has been in talks to acquire a stake in Binance.US, potentially through WLFI.

Steve Witkoff, Trump’s chief negotiator and father of WLFI co-founder Zach Witkoff, reportedly led discussions with Binance.

Meanwhile, WLFI recently launched its USD1 stablecoin on BNB Chain and Ethereum, following a $550 million public token sale—marking another milestone in its expanding DeFi footprint.

Pakistan Signals Policy Shift with Plans for National Crypto Council

Pakistan’s Finance Ministry is taking steps toward formal cryptocurrency regulation, which could significantly change the country’s historically cautious stance on digital assets.

In a meeting last month with an international delegation focused on crypto investment and blockchain development, Aurangzeb emphasized the importance of exploring the sector’s potential rather than dismissing it outright.

The delegation included notable figures such as Gentry Beach Jr., a key investor who has pledged $1 billion in funding to Pakistan, along with tech entrepreneur Nikita Goldsmith, blockchain consultant Alex Malkov, and Cosmic Wire CEO Jerad Finck.

The proposed National Crypto Council would function as a government advisory body, bringing together regulators, policymakers, and industry stakeholders to guide the development of cryptocurrency and blockchain regulations.

This marks a clear shift from previous government positions. Until recently, both the State Bank of Pakistan and former finance officials firmly opposed cryptocurrency adoption, citing financial risks and regulatory uncertainty.

The post Trump-Backed WLFI Signs LOI with Pakistan Crypto Council to Boost Blockchain Adoption appeared first on Cryptonews.

Crypto Observers on Monday speculated that World Liberty Financial (WLFI), a distributed financial (DEFI) platform supported by President Donald Trump and his family, could be testing the much-anticipated stable rock of dollars before rolling out for the wider public.

Earlier today, blockchain detectives noted a surge in activity using tokens labeled World Liberty Financial USD (USD1) on blockchain surveillance websites Etherscan and BSCSCAN. USD1 was deployed earlier this month in a series of transactions with Ethereum and BNB chain networks, with tokens occurring over the past few weeks, according to blockchain data.

Some transfers included addresses linked to WinterMute, a large digital asset trading company and market maker, Crypto Custodian Bitgo, according to data from Arkham Intelligence. Token supply was now around 3.5 million to 3.5 million on Ethereum and BNB chains, per Etherscan and BSCSCAN.

Changpeng CZ Zhao, founder of Crypto Exchange Giant Binance, has taken extensive attention to the tokens by “welcoming” the BNB chain’s projects with a screenshot of the USD1 BSCSCAN profile shared with 10 million followers. The post, which I said later, sparked a wave of copycats aimed at attracting new attention.

The WLFI responding with the X post states that USD1 is currently unavailable for transactions, and crypto users should be aware of fraud.

Stablecoin topic

The WLFI, a project led by Zachary Folkman and Chase Herro, created Splash last year as one of the first crypto projects to enjoy backing Trump. The protocol aims to provide a blockchain-based market where users can borrow and lend cryptocurrencies, create liquidity pools and trade with Stablecoins.

It is widely known that the project is working on creating its own Stablecoin, but there was no official communication about the exact plan and timing of launching the token publicly. Coindesk contacted the team but did not reply.

Stablecoins is one of the fastest growing corners in the crypto industry and is widely regarded as a killer use case for blockchain. It is widely used as crypto trading pairs and transactions on blockchain rails, mainly towards the US dollar, as prices are fixed to external assets. It is also increasingly used for daily payments, remittances and savings, attracting the attention of many venture capital investors.

Over the past few months, talk around asset classes have rejuvenated as the Trump administration has raised stubcoin regulations to the top of its crypto agenda. Treasury Secretary Scott Bessent said Stablecoins play a key role in maintaining their global role as a reserve currency for the US dollar.

President Donald Trump’s family DeFi project, World Liberty Financial (WLFI), has officially concluded its WLFI token sale, which raised approximately $590 million, according to details shared on its website.

According to Satoshi Club, this achievement places it among the top ten largest token fundraising events in the crypto industry.

WLFI

WLFI has a total supply of 100 billion tokens, with 35% allocated for public distribution.

The token was designed to function as a governance asset for WLF’s upcoming decentralized trading platform. Holders will be able to vote on key proposals and participate in decision-making processes within the community.

The project launched its token sale in October 2024 with an initial allocation of 20 billion WLFI tokens. Each token was priced at $0.015 and available only to whitelisted participants. WLFI initially aimed to raise $300 million but revised the target to $30 million due to weak demand.

However, interest surged following Donald Trump’s 2024 election victory, resulting in all 20 billion WLFI tokens sold out by Jan. 20.

In response to increased demand, the project later released an additional 5 billion tokens for sale.

WLFI’s token-holding

Beyond its token sale, WLFI has been actively increasing its crypto holdings over the past months.

According to blockchain analytics platform Spot On Chain, the project recently spent $100,000 USDC to purchase 541,242 SEI tokens at $0.185 per token.

Currently, WLF holds 1.089 million SEI tokens, acquired for $225,000, now valued at approximately $207,000.

Since the market dip in late February, the project has invested $21.6 million in accumulating various cryptocurrencies, including Ethereum (ETH), Wrapped Bitcoin (WBTC), Movement (MOVE), and SEI.

According to Arkham Intelligence data, WLFI’s total crypto portfolio is valued at nearly $78 million. This includes 7,900 ETH worth $15 million, $14.82 million in USDT, and 162 WBTC valued at approximately $13.44 million.

Additionally, the project holds $9.4 million in staked Ethereum, $9 million in Tron (TRX), and substantial investments in Movement, Ondo, and Usacoin.

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