WLFIs – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Sat, 12 Jul 2025 07:17:29 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.7 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 WLFIs – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 Binance allegedly wrote the code for WLFI’s stablecoin USD1 https://earlybirdsinvest.com/binance-allegedly-wrote-the-code-for-wlfis-stablecoin-usd1/ https://earlybirdsinvest.com/binance-allegedly-wrote-the-code-for-wlfis-stablecoin-usd1/#respond Sat, 12 Jul 2025 07:17:29 +0000 https://earlybirdsinvest.com/binance-allegedly-wrote-the-code-for-wlfis-stablecoin-usd1/

Former Binance CEO Changpeng Zhao allegedly supported crypto projects tied to the Trump family while privately seeking a presidential pardon, according to a July 11 Bloomberg News report.

The report claimed that Binance wrote the foundational smart contract code for USD1, a stablecoin issued by World Liberty Financial, a company affiliated with President Donald Trump.

Three people familiar with the matter told Bloomberg that Binance’s involvement enabled USD1 to be used in a $2 billion investment in Binance made by UAE-based MGX.

Blockchain data reviewed by Bloomberg showed that approximately 90% of USD1’s $2 billion total supply is held in Binance wallets. The token’s prospectus indicates the Trump family could receive around $30 million annually from interest earned on reserves backing the stablecoin.

A Binance spokesperson told Bloomberg the USD1 listing followed its “standard process,” emphasizing that Zhao’s pardon application is “a personal one” and unrelated to company activities.

Zhao, who pleaded guilty in 2023 to anti-money-laundering violations and spent time in a California halfway house, confirmed his pardon request during a Farokh Radio podcast interview.

World Liberty denied the allegations, calling them “factually deficient and designed to further a political agenda.” Zhao has also denied the allegations levied by previous reporting by the Wall Street Journal.

Ethics experts raised concerns about potential conflicts of interest. Richard Painter, former chief ethics counsel under President George W. Bush, said, “We have never had this since the Civil War: a president whose personal financial interests conflicted with his official duties.”

The Trump administration maintains that the President has no conflicts, citing a trust structure overseen by Donald Trump Jr. An ethics agreement released before Trump’s presidency stated he receives only general business updates.

Bloomberg reported that crypto initiatives tied to Trump have added at least $620 million to his fortune in recent months. Two sources said Zhao met World Liberty co-founder and Trump ally Steve Witkoff at a Bitcoin conference in Abu Dhabi in December 2024, although a person close to Witkoff denied the meeting took place.

Witkoff, now Trump’s special envoy to the Middle East, plans to transfer his World Liberty Financial interests to his adult sons, according to White House counsel David Warrington.

By mid-March, Binance and World Liberty were reportedly discussing a new stablecoin, and weeks later, World Liberty announced plans to issue a token on BNB Smart Chain. Around the same time, the Wall Street Journal reported that Zhao was requesting a pardon from Trump.

Mentioned in this article
]]> https://earlybirdsinvest.com/binance-allegedly-wrote-the-code-for-wlfis-stablecoin-usd1/feed/ 0 47175 WLFI’s $550 Million Surge Hands Donald Trump a $390 Million Payday https://earlybirdsinvest.com/wlfis-550-million-surge-hands-donald-trump-a-390-million-payday/ https://earlybirdsinvest.com/wlfis-550-million-surge-hands-donald-trump-a-390-million-payday/#respond Wed, 19 Mar 2025 02:44:45 +0000 https://earlybirdsinvest.com/wlfis-550-million-surge-hands-donald-trump-a-390-million-payday/

US President Donald Trump and his business partners at DT Marks DEFI LLC have earned about $390 million from their involvement in the Ethereum
ETH


$1,922.53

-based project, World Liberty Financial (WLFI).

Initially, the project struggled to attract buyers. When WLFI launched token sales in October 2024, only $15 million worth of WLFI tokens had been sold—far short of its $300 million goal. However, interest grew over time, which allowed the project to surpass half a billion in sales.

The company completed its second round of token sales on March 17, which brought total revenue from WLFI, its governance token, to $550 million.

What is Ethereum 2.0? Upgrades Easily Explained With Animations

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

What is Ethereum 2.0? Upgrades Easily Explained With Animations

What is Ethereum 2.0? Upgrades Easily Explained With Animations
What is Ethereum 2.0? Upgrades Easily Explained With Animations

According to the project’s financial documents, President Trump and his partners receive 75% of net revenue after expenses, which includes earnings from token sales.

Out of the total raised, $30 million has been set aside for operational costs and other obligations. The remaining amount is then divided, with President Trump’s group receiving the majority share. The project’s documents specify that his compensation is for occasional promotions and the use of his name and image.

It is unclear who else benefits from these payments. The Securities and Exchange Commission (SEC) filings show that DT Marks DEFI LLC, the entity tied to President Trump in this agreement, operates from the same address as his company’s offices in Florida.

Meanwhile, buyers of President Trump’s official merchandise or digital collectibles can claim the Official Trump (TRUMP) token giveaway. What did the team behind the project say about it? Read the full story.

Aaron S. Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

]]> https://earlybirdsinvest.com/wlfis-550-million-surge-hands-donald-trump-a-390-million-payday/feed/ 0 25944