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TLDR: The Clarity Act faces a Senate delay as Democrats demand stronger ethics restrictions covering presidential crypto profits and enforcement. Republicans need at least seven Democratic votes, making bipartisan support essential before the digital asset bill can reach the president. Critics say the draft may let Trump retain indirect crypto interests while his children continue operating separate digital asset ventures. Stablecoin reward rules, bank deposit risks, campaign spending, and weaker prediction market odds add pressure to the ethics dispute. The Clarity Act faces a new Senate roadblock as Donald Trump’s family crypto interests intensify an ethics dispute. Bloomberg reports that Democrats want stronger limits before supporting the digital asset bill. They argue the current proposal may let Trump and his relatives keep earning from memecoins and World Liberty Financial. 

Republicans need at least seven Democratic votes to move the legislation through the Senate. Negotiators now view ethics rules as the central issue, alongside consumer safeguards and illicit finance controls. The dispute has reduced expectations for passage before the August recess and weakened market confidence in a deal this year.

Clarity Act Ethics Dispute Tests Bipartisan Senate Support Senate Republicans released revised language this week to revive negotiations after months of delay. Democrats and watchdog groups rejected the offer, saying its ethics protections leave gaps. Their concern centers on whether the Clarity Act would restrict presidential profits from regulated crypto markets.

Clarity Act Passage Odds: Polymarket The proposal would allow Trump to divest his stake or place assets in a blind trust. It does not require a full sale. Critics question language covering officials with a direct interest in digital assets. Trump holds exposure to World Liberty Financial through DT Marks DEFI LLC, which owns about 38% of the venture. That structure could complicate enforcement under the proposed standard.

The draft excludes the children of government officials. Donald Trump Jr. and Eric Trump could therefore continue their crypto business activities. The measure would not recover income already generated from token and memecoin ventures. Watchdogs argue those limits weaken the bill’s ability to address existing conflicts.

Democrats oppose giving the Justice Department primary authority over the new ethics rules. The framework would block state attorneys general from acting as an independent enforcement channel. Senator Angela Alsobrooks has described ethics as the decisive issue in negotiations. Senators Ruben Gallego and Thom Tillis are developing a possible compromise for the White House.

Timing now adds pressure. Senate Majority Leader John Thune does not expect the Clarity Act to pass before the August recess. Negotiators still need agreement on consumer protection and illicit finance measures. Without changes, Democrats may withhold the votes Republicans need for swift passage.

Trump Crypto Business Deepens Wider Regulatory Divisions Ethics is not the only obstacle facing the Clarity Act. Banks want tighter limits on stablecoin rewards, fearing deposits could move into yield-bearing crypto accounts. That shift could reduce lending capacity and pressure banking profits. Tillis has discussed circuit-breaker powers for the Federal Deposit Insurance Corporation or other regulators if deposits fall sharply.

Senator Cynthia Lummis opposes that approach. She is one of the digital asset bill’s strongest Republican supporters. The disagreement shows how the Trump crypto business controversy intersects with fights over market structure and banking competition.

Critics have challenged a provision ending the ethics rules on January 20, 2029. That date matches the inauguration of Trump’s successor. Opponents say the sunset could limit accountability after his term. Republicans argue the proposal creates restrictions beyond those accepted by previous presidents.

Political pressure may shape negotiations. Fairshake and two affiliated super PACs have raised $164 million for the midterm elections. Federal filings show they have spent $66.6 million. Crypto-friendly Democrats risk industry opposition if talks collapse, while progressives could attack any compromise.

Senator Chris Murphy has urged Democrats to frame crypto corruption as a campaign issue. Other Democrats worry that rejecting the Clarity Act could direct industry spending against Senate candidates.

Prediction markets reflect the uncertainty. Polymarket traders placed the Clarity Act’s passage odds near one in three. That level is roughly half the probability recorded after a Senate committee backed an earlier version on May 14. The Trump crypto business dispute now sits at the center of falling expectations.

CLARITY Act Unlikely To Pass Before August Break, Says Senate Leader

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An individual who leverages the Official Trump (CRYPTO: TRUMP) memecoin to score invitations to events hosted by President Donald Trump found disclosure of his billion-dollar cryptocurrency profits "absurd" and "mind-blowing."

‘In Europe, Something Like This Would Never Happen’Fast forward almost 14 months, and the $1.4 billion fortune Trump made on these cryptocurrency projects is what everyone’s talking about.

“It’s quite absurd to be honest, a president that monetizes his presidency the way he did,” said Mortensen, who is from the Netherlands, in an interview with Benzinga. “In Europe, something like this would never happen.”

Mortensen called it “mind-blowing” that Trump monetizes not only cryptocurrency but also merch, watches, and trading cards.

‘Memecoins Almost Never Last’The TRUMP memecoin was launched just before Trump’s presidential inauguration in January 2025. It reached a market capitalization of nearly $15 billion shortly after the launch, before collapsing by 98% to $368 million at the time of writing.

On-chain analysis revealed that nearly one million investors who bought the TRUMP meme coin collectively lost $3.81 billion. All this while Trump collected more than $635 million in royalties from the project.

But Christensen never really had confidence in the memecoin. He sold all his TRUMP in the first week and only uses a market-neutral strategy—buying the memecoin while shorting the same amount—just to get invited to Trump-hosted events.

“Memecoins almost never last,” he said. “It’s attention economy, and if you’re not out in first week or two weeks, then shame on yourself.”

So, if given the chance, would he use the same market-neutral strategy to attend those fancy events again? Christensen replied, “Absolutely.”

What About WLFI?Christensen revealed that 80% of his World Liberty Financial (WLFI) tokens are locked, but he managed to sell 20% of the unlocked portion.

“I hold a significant amount on paper, but in my mind, it’s kind of worth zero because it’s a two-year lock,” he said. In two years, a project can die easily.”

It’s worth reminding that Trump earned over $520 million from the sale of tokens issued by World Liberty Financial, and over $65 million from equity sales in WLFI’s holding company, WLF Holdco.

The Rise Of The ‘Crypto President’The disclosures have sparked massive backlash and conflict-of-interest concerns, prompting Sen. Elizabeth Warren (D-Mass.) to call for ethical safeguards in cryptocurrency legislation to block any opportunities for Trump to profit.

Dylan Dewdney, co-founder and CEO of agentic finance platform Kuvi.ai, said the optics are poor and that the “long-term damage will be to crypto’s credibility” rather than to any one politician.

“This is, unfortunately, a case of crypto making its own bed and now having to lie in it,” he said.

Trump has defended his cryptocurrency income, asserting there was nothing “illegal” or “wrong” about it.

A White House spokesperson told Benzinga that all of the President’s assets are held in “fully discretionary accounts” managed by “independent third-party financial institutions,” while rejecting any allegations of conflicts of interest.

Photo Courtesy: Joey Sussman on Shutterstock.com

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Sen. Elizabeth Warren (D-Mass.) said on Wednesday that President Donald Trump chose to be the “cryptocurrency industry’s biggest profiteer” over being a leader for working people.

Financial disclosures revealed that Trump earned approximately $1.4 billion in 2025 from cryptocurrency-related ventures, more than any publicly traded cryptocurrency company in the U.S. Overall, he reported over $2 billion in profits in the first year of his presidency.

“You can be the crypto industry’s biggest profiteer, or you can be a president for working people. You can’t be both,” the Warren said, adding that Trump chose his “corrupt” cryptocurrency profits.

Uproar Continues Over Trump’s Crypto WindfallThis happened while nearly one million TRUMP memecoin holders collectively incurred $3.81 billion in losses.

Trump insisted his cryptocurrency earnings were neither “illegal” nor “wrong,” and that the U.S. must lead in cryptocurrency or risk losing ground to China.

At the same time, his strong advocacy for the Clarity Act has raised scrutiny. Warren has pointed to "significant flaws" in the bill’s current draft and accused the Senate of "prioritizing legislation that could further boost the Trump family’s cryptocurrency businesses.”

A White House spokesperson told Benzinga earlier that all actions by the Trump administration are taken in the “best interest of the American people,” while rejecting any suggestions of “conflict of interest.”

The spokesperson also accused the media of “recycling” a tired narrative that Democrats have “pushed” for a decade.

Photo Courtesy: Bryan J. Scrafford on Shutterstock.com

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Trump Reportedly Directed Crypto Earnings Toward Stocks, Bonds, Analysis Finds

Five ranking Democrats want to investigate the national security implications of the president's crypto holdings, citing foreign influence and conflicts of interest.

Posted July 13, 2026 at 6:18 am EST.

Five of the Senate’s most senior Democrats called on Friday for congressional hearings into President Donald Trump‘s cryptocurrency holdings, after financial disclosures showed his family’s crypto ventures generated roughly $1.4 billion during the first year of his second term.

The lawmakers, Elizabeth Warren of Massachusetts, Richard Blumenthal of Connecticut, Gary Peters of Michigan, Dick Durbin of Illinois and Ron Wyden of Oregon, are the ranking members of the Banking, Investigations, Homeland Security, Judiciary, and Finance committees, respectively. In a joint statement, they said the filings revealed that unknown “third parties” hold a stake in World Liberty Financial, the Trump family crypto venture, and pointed to reports that a UAE royal purchased a 49% stake in the firm.

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The demand escalates a conflict-of-interest fight that has shadowed crypto policy all year. The same five senators demanded hearings in June over the reported $500 million UAE investment. Their concern is that Trump has pressed Congress to pass crypto legislation favoring an industry he profits from, while his administration has moved to weaken oversight, including by disbanding the Justice Department’s National Cryptocurrency Enforcement Team.

The filing, released July 1 by the Office of Government Ethics, showed roughly $636 million in royalties from Trump’s memecoin, about $594 million from World Liberty Financial token sales, and close to $197 million from a stablecoin venture linked to Abu Dhabi’s Sheikh Tahnoon bin Zayed Al Nahyan. Trump also holds tens of millions of dollars in Bitcoin and Ethereum.

The renewed scrutiny arrives at a sensitive moment for the industry’s top legislative priority. The CLARITY Act, the crypto market structure bill, short on time to pass this year has stalled, in part over provisions targeting the president’s ability to issue and endorse digital assets while in office.

Related Listen: Tokens vs Equity, Lighter x Robinhood – The Chopping Block

AI-assisted content: This article was produced with the assistance of AI tools and was reviewed, edited, and fact-checked by a member of the Unchained editorial team before publication.

A hacker rug pulled a token called SCATMAN after reportedly seizing control of the SpaceXAI and Starlink accounts on X, walking away with roughly $125,000 in Ethereum (ETH).

On-chain tracker Lookonchain traced the stolen funds across two wallets. The scheme mirrors a run of high-profile account takeovers aimed at promoting fraudulent tokens.

Inside the SCATMAN Rug PullAccording to Lookonchain, the attacker promoted the SCATMAN meme coin after allegedly compromising the SpaceXAI and Starlink X accounts. Screenshots widely shared on social media appeared to show both accounts reposting content from the SCATMAN account.

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Lookonchain said the attacker minted 10 trillion SCATMAN. They then sold the entire supply for 59 ETH, worth about $108,000.

The analytics platform also identified a second wallet linked to the same attacker that sold an additional 59.28 million SCATMAN tokens for 14.7 ETH, worth approximately $27,000.

In total, the two wallets generated nearly $125,000 in ETH. Lookonchain identified the following addresses as belonging to the attacker:

0xfee50d4ce48f2d05f520ce04c875647e4870a8ba 0xdd9f6d3e16ebda7f35cb694ceadb50af3eebba89 As of press time, the reposts were no longer visible on the SpaceXAI and Starlink accounts, and BeInCrypto could not independently verify the claims. BeInCrypto has reached out to SpaceX for comment and will update this story if it receives a response.

Account Hacks Fuel a String of Rug PullsHijacked social media accounts have become a common vehicle for rug pulls. Scammers borrow the credibility of trusted brands to lure buyers.

In February 2025, hackers seized Pump.fun’s X account to push a fake PUMP token. One wallet earned over $135,000 within a minute.

Political figures have faced the same tactic. Attackers hijacked former Malaysian Prime Minister Mahathir Mohamad’s account to promote a token, stealing $1.7 million.

Myanmar’s junta leader and World Liberty Financial co-founder Zach Witkoff faced similar breaches earlier that year.

Victims range from crypto platforms to heads of state. The common thread is a trusted account weaponized for a single, fast payout.

Each case follows the same pattern. A breach, a fast token launch, and a quick sell-off before the platform regains control.

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Key Takeaways Five Democratic senators are requesting congressional hearings to examine Trump’s cryptocurrency investments and potential foreign influence concerns Trump disclosed approximately $1.4 billion in cryptocurrency-related earnings for 2025, spanning his memecoin venture and World Liberty Financial A UAE-connected entity allegedly acquired a 49% ownership position in World Liberty Financial Senate Democrats seek clarity on whether international investors shaped American cryptocurrency regulations, including pending legislation Legislation prohibiting a central bank digital currency will take effect after Trump allowed it to pass without his signature Five Democratic senators are pushing for formal congressional hearings to investigate President Donald Trump’s extensive cryptocurrency portfolio, citing concerns about potential foreign interference and national security implications.

🟡 Exclusive: Top Democrats slam Trump over crypto ahead of vote:

“The disclosures heighten concerns about the president pushing Congress to pass crypto legislation in favor of the very industry he’s cashing in on,” Senators Elizabeth Warren, Richard Blumenthal, Gary Peters,…

— Semafor (@semafor) July 10, 2026

The call for investigation emerged following the release of Trump’s 2025 financial disclosure documents on June 30. The filing revealed total revenues exceeding $2.24 billion for the previous year, with more than $580 million connected to cryptocurrency ventures.

The crypto-related earnings breakdown includes approximately $515 million from World Liberty Financial token transactions, $65 million from ownership stakes in its parent company, and $635 million in royalty payments associated with his memecoin operations.

The group of senators initiating this request consists of Elizabeth Warren from Massachusetts, Richard Blumenthal from Connecticut, Gary Peters from Michigan, Dick Durbin from Illinois, and Ron Wyden from Oregon.

These lawmakers serve as ranking members across five different Senate committees and subcommittees. However, as minority party members, they lack the authority to convene hearings independently without gaining Republican backing.

United Arab Emirates Investment Under Scrutiny The senators’ correspondence highlights an alleged 49% ownership stake in World Liberty Financial acquired by an entity associated with Sheikh Tahnoon bin Zayed Al Nahyan, who serves as the UAE’s national security adviser.

The lawmakers also expressed concern about unnamed “Third Parties” referenced in Trump’s financial disclosure. They are demanding transparency regarding whether these entities, or the UAE government, played any role in shaping American policy decisions.

Earlier this year, Representative Ro Khanna initiated a House investigation into the UAE investment, questioning potential connections to modifications in U.S. restrictions governing AI chip exports. World Liberty Financial characterized that investigation as politically driven.

Trump addressed his financial gains during a CNBC interview, asserting there was “nothing illegal” about his earnings. He explained that his son Eric supervises his business holdings and that external firms handle his investment portfolio.

The White House maintains that Trump’s financial assets are managed through a trust overseen by his children, arguing this arrangement prevents any conflicts of interest.

Crypto Legislation Faces Uncertain Path The Democratic senators’ letter also challenges the timing and motivations behind the Digital Asset Market Clarity Act, which is anticipated to reach the Senate floor for a vote within the coming weeks.

Senate procedural rules mandate 60 votes to overcome a filibuster, requiring Republicans to secure Democratic cooperation to advance the legislation.

Certain Republicans, including Senator Cynthia Lummis, are advocating for swift passage of the bill. However, Representative French Hill, who leads the House Financial Services Committee, acknowledged that Trump’s cryptocurrency business interests have made legislative progress “more complicated.”

In related developments, legislation prohibiting the Federal Reserve from launching a central bank digital currency through December 31, 2030, is proceeding toward enactment. Trump scrapped the planned signing ceremony but chose not to veto the measure, enabling it to become law automatically after a 10-day period.

Republicans, who maintain control of both congressional chambers, have not scheduled any hearings in response to the Democratic senators’ requests.

Trump Just Made Passing the CLARITY Act More Politically Expensive

@worldlibertyfi's payments arm, AI Financial, is in talks to offload its core business to Tokyo-based blockchain firm Perpetuals.com for up to $15 million, according to the Wall Street Journal. The development marks a sharp reversal for a company that was once promoted as the foundation of an international payments network powered by World Liberty Financial's USD1 stablecoin.

From $750 Million to $15 Million The problems began after World Liberty acquired a controlling stake in AI Financial in August 2025 by paying with its own $WLFI cryptocurrency. AI Financial then raised an additional $750 million from outside investors to purchase more WLFI tokens, leaving the company heavily exposed to the Trump-backed digital asset.

Under the reported deal terms, Perpetuals.com would pay $5 million upfront in stock, with an additional $10 million contingent on future revenue targets, while also assuming certain liabilities tied to the payments unit. Perpetuals.com confirmed the discussions in a press release on July 7, saying it had signed a non-binding term sheet to explore the acquisition of Alt5 Sigma Canada Inc., with its Chief Strategy Officer noting the company is currently conducting due diligence and that no final decision has been made.

The unit generated roughly $25 million in revenue last year and is AI Financial's sole revenue-generating business. According to the Journal, no USD1 stablecoin transactions have ever been processed through AI Financial's payments platform.

Investors Burned, Trumps Profit $WLFI has slid roughly 70% since the deal was announced, and AI Financial's stock has cratered more than 90% from highs near $9.76, with shares now trading around $0.53. AI Financial posted a $271.5 million net loss for Q1 2026, driven by a $348.3 million unrealised loss on its WLFI holdings, and management has flagged substantial doubt about the company's ability to continue as a going concern within 12 months.

The Trump family is entitled to 75% of the proceeds from World Liberty's crypto token sales, putting their direct gains from the August transaction at roughly $500 million after fees and other expenses. Trump's crypto-related income for 2025 included about $515 million from the sale of tokens released by World Liberty Financial, and $65 million from sales of equity in the holding company.

As part of the broader arrangement, Perpetuals.com has also agreed to explore offering World Liberty Financial's USD1 stablecoin in Europe and to license its trading technology to AI Financial. Both World Liberty Financial and AI Financial declined to comment on the reported sale talks.

Sources:
International Business Times: Trump Family Pockets Half A Billion As Trump-Backed Crypto Firm Moves To Sell Only Revenue-Generating Business
CNBC: Trump family got about $500M from crypto venture as investors saw steep losses
The Crypto Times: Trump-Linked WLFI Treasury Firm to Sell Core Unit for $15M After Token Crash

Table of contents

World Liberty Financial’s USD1 has gone from a March 2025 launch announcement to the fourth-largest stablecoin in the world in roughly fifteen months, overtaking PayPal’s PYUSD and Sky’s DAI along the way. Its rise has been driven less by retail adoption than by a handful of enormous institutional deals — most notably a $2 billion settlement between Abu Dhabi-based MGX and Binance that was paid entirely in USD1 — and by the fact that the project sits inside a company co-founded by the Trump family. Here’s what USD1 actually is, how it works, and what to weigh before using it.

Key Takeaways USD1 is a US dollar-pegged stablecoin issued by World Liberty Financial (WLFI) and custodied by BitGo Trust Company under a South Dakota trust charter Reserves consist of cash, short-term US Treasury bills, and government money market funds, verified through monthly AICPA-standard attestations and a live Chainlink-powered proof-of-reserves dashboard Circulating supply has grown from about $3.3 billion at year-end 2025 to roughly $4.5 billion by mid-2026, making USD1 the fourth-largest stablecoin behind USDT, USDC, and Sky’s USDS, according to DefiLlama’s stablecoin tracker USD1 runs natively on around ten blockchains, including Ethereum, BNB Chain, Tron, Solana, Aptos, and the Stripe-backed Tempo L1 World Liberty Financial is majority-owned by a Trump family business entity, which is entitled to a share of token sale proceeds and stablecoin profits — a fact worth knowing before treating USD1 as a neutral financial product USD1 Price Today MetricValuePrice~$0.9987Market Cap~$4.45B24h Volume~$775MCirculating Supply~4.46B USD1Holders~617KRank#4 stablecoin by market cap Live price and supply data via CoinGecko and CoinMarketCap.

Note: as a stablecoin, USD1’s price is designed to stay near $1.00 — deviations of more than a fraction of a cent typically signal peg stress rather than “price movement” in the way a normal crypto asset would show it. For how USD1 fits into the broader market, see today’s crypto market overview.

What Is USD1? USD1 is a fiat-collateralized stablecoin issued by World Liberty Financial, the same company behind the WLFI governance token. Each USD1 is intended to be backed 1:1 by a corresponding dollar held in cash, short-duration US Treasury bills, and other cash equivalents through government money market funds. The stablecoin launched on Ethereum and BNB Chain in March 2025 and was designed from the outset for institutional settlement rather than retail spending — WLFI co-founder Zach Witkoff pitched it at launch as combining “the power of DeFi” with “the credibility and safeguards of the most respected names in traditional finance.”

That institutional framing has largely held up in practice. USD1’s fastest growth has come from large counterparty deals rather than organic retail demand — Forbes reported that Binance-linked wallets held roughly 87% of USD1 supply at one point, and Binance has run multiple liquidity-seeding campaigns, including a booster program that briefly offered up to 20% APR on USD1 deposits before being cut to 8%.

USD1 uses a standard mint-and-burn mechanism: new tokens are created only when an equivalent dollar amount is deposited with the custodian, and tokens are destroyed when holders redeem. BitGo Trust Company — which operates under a South Dakota trust charter — holds the reserves and processes institutional redemptions, typically within one to two business days. Retail holders generally don’t redeem directly with BitGo; instead, they convert USD1 to other stablecoins or fiat through exchanges and DEXs.

Two transparency mechanisms back the peg claim. A monthly attestation report, prepared by an independent accounting firm under 2025 AICPA criteria for asset-backed fiat-pegged tokens, confirms that USD1 tokens outstanding are matched or exceeded by reserve assets. A separate real-time proof-of-reserves dashboard, powered by a Chainlink oracle on Ethereum, shows total reserves, the collateralization ratio, and supply by network on an ongoing basis. World Liberty Financial introduced the live dashboard in February 2026, shortly after a brief depeg incident (more on that below).

It’s also worth knowing where the yield goes: interest earned on the underlying reserve assets accrues to BitGo and World Liberty Financial-affiliated entities — including a Trump-affiliated entity, DT Marks DEFI LLC — rather than to USD1 holders themselves. That’s standard practice across most fiat-backed stablecoins, including USDT and USDC, but it means holding USD1 doesn’t generate yield on its own; any return comes from separately supplying it to a lending protocol.

Which Blockchains Support USD1 USD1 launched on just two networks and has expanded aggressively since:

Ethereum and BNB Chain — the original launch networks and still the deepest liquidity venues Tron — where dollar-stablecoin transfer volume is heavily concentrated Solana — added as USD1 pushed into high-throughput DeFi Aptos, AB Core, Mantle, Monad, Plume, Morph — newer integrations added through 2025 and 2026 Tempo — the Stripe-backed layer-1, where USD1 launched natively in May 2026 as an early TIP-20 token Cross-chain transfers run on Chainlink’s Cross-Chain Interoperability Protocol (CCIP) rather than a proprietary bridge — a deliberate choice, since Circle’s competing CCTP standard is USDC-specific and unavailable to other issuers.

USD1 and World Liberty Financial USD1 can’t really be separated from the company behind it. World Liberty Financial was founded in late 2024 by Zachary Folkman, Chase Herro, and Zach and Donald Trump Jr., alongside other Trump family members, and describes Donald Trump as its “chief crypto advocate.” A Trump family business entity owns 60% of World Liberty Financial and is entitled to 75% of net proceeds from WLFI token sales as well as a share of stablecoin-related profits; by December 2025, the family had reportedly profited around $1 billion from token proceeds alone.

The project has also drawn foreign investment at a scale unusual for a young crypto company. A firm tied to the Abu Dhabi royal family purchased $2 billion of USD1 in 2025, and reporting from the New York Times indicated Abu Dhabi-linked interests separately agreed to acquire a 49% stake in WLFI. These ties, combined with the Trump family’s direct financial stake, have made USD1 a recurring subject of conflict-of-interest reporting rather than a purely technical stablecoin story — worth factoring in alongside the reserve and custody details above.

On the regulatory side, USD1’s structure is built to align with the GENIUS Act, the federal stablecoin law signed in July 2025 that requires full reserve backing, monthly public disclosure, and licensed-issuer status for payment stablecoins. Implementation is still ongoing through 2026, and in January 2026 a World Liberty trust entity applied for a US national banking charter, which — if granted — would give the issuer direct bank-grade infrastructure instead of relying solely on BitGo as custodian.

USD1 vs. USDT vs. USDC USD1USDTUSDCIssuerWorld Liberty FinancialTetherCircleMarket cap (mid-2026)~$4.5B~$170B+~$73BCustodianBitGo TrustTether InternationalRegulated banking partnersReserve attestationMonthly (AICPA standard)QuarterlyMonthlyChains~10, incl. Ethereum, BNB Chain, Tron, Solana15+20+Primary use caseInstitutional settlement, DeFi collateralTrading pairs, EM remittanceRegulated payments, DeFi USD1 is far smaller than the two incumbents and has no realistic path to displacing either in the near term. Its differentiation is regulatory positioning and political access rather than scale: it launched compliance-first under a framework built toward the GENIUS Act, and its sponsors have secured settlement deals — like the MGX-Binance transaction — that smaller or newer stablecoins typically can’t access.

Risks Worth Knowing USD1 briefly depegged to around $0.994 in February 2026, an incident WLFI attributed to a coordinated attack on co-founders’ social media accounts — a claim that hasn’t been independently verified. The peg recovered within roughly 30 minutes and reserves were confirmed intact, but the episode prompted the launch of the real-time proof-of-reserves dashboard described above.

Supply concentration is a separate concern: with the bulk of USD1 historically held in Binance-linked wallets, the token’s liquidity and price stability depend heavily on a small number of large holders rather than a broad, diversified base. World Liberty Financial’s own risk disclosures also note that USD1 is not legal tender and not deposit-insured, and that BitGo or WLFI-affiliated parties retain the ability to freeze or block specific addresses — a level of centralized control that’s common among regulated stablecoins but worth being aware of before treating USD1 as equivalent to holding cash.

Finally, USD1 is young and its issuer is young: World Liberty Financial has faced congressional scrutiny over conflicts of interest and, separately, a defamation lawsuit tied to public criticism of the project. None of this affects whether current reserves back current supply, but it’s relevant to how much institutional trust the project can sustain if political or legal pressure increases.

Where to Buy USD1 USD1 is listed on most major centralized exchanges as well as several DEXs:

Binance — deepest liquidity, multiple pairs including USD1/USDT and BTC/USD1 Coinbase — added USD1 support as part of WLFI’s push for mainstream accessibility Kraken, OKX, Bybit, Gate, MEXC, Bitget Raydium and PancakeSwap for on-chain swaps via Solana and BNB Chain respectively Self-custody wallets that support USD1’s underlying networks (MetaMask, Phantom, and similar) can hold the token directly using its contract address once added manually or through an exchange’s “add to wallet” integration.

Frequently Asked Questions What is USD1 stablecoin? USD1 is a US dollar-pegged stablecoin issued by World Liberty Financial, a company co-founded by members of the Trump family. It's backed 1:1 by cash and short-term US Treasury securities held through custodian BitGo Trust, with monthly reserve attestations and a real-time proof-of-reserves dashboard.

How do I buy USD1 stablecoin? USD1 trades on major exchanges including Binance, Coinbase, Kraken, OKX, and Bybit, as well as decentralized exchanges like Raydium and PancakeSwap. Create an account on a supported exchange, deposit funds, and trade for USD1 directly or swap another stablecoin like USDT or USDC for it.

Who owns USD1 stablecoin? USD1 is issued by World Liberty Financial, which is majority-owned by a Trump family business entity entitled to 75% of net token sale proceeds and a share of stablecoin profits. Reserves backing USD1 are held by custodian BitGo Trust Company, not by World Liberty Financial directly.

Which blockchain is USD1 on? USD1 runs natively on roughly ten blockchains, including Ethereum, BNB Chain, Tron, Solana, Aptos, and the Stripe-backed Tempo network. Cross-chain transfers use Chainlink's CCIP protocol rather than a single native chain.

Is USD1 safe? USD1 is backed by cash and short-term US Treasuries held with a regulated custodian and publishes monthly attestations, similar to USDC's model. It briefly depegged in February 2026 but recovered within 30 minutes with reserves confirmed intact. As with any stablecoin, it isn't deposit-insured or legal tender, and holders should weigh custodial and issuer-concentration risk before use.

USD1 Goes Live Across Zebec's Full Platform@Zebec_HQ has integrated @worldlibertyfi's $USD1 stablecoin into its entire ecosystem, covering payrolls, payments, and yield. The move positions $USD1 as a core settlement asset within Zebec's financial infrastructure and extends the stablecoin's real-world utility beyond trading and DeFi.

According to CryptoNews, $USD1 is now supported natively inside the Zebec Super App, meaning teams can use the stablecoin directly within the existing platform without bridging to another network or switching tools. Users with @ZebecCards can also receive payroll spend in $USD1, and the integration provides direct access to WLFI markets from within Zebec.

Zebec has also indicated it plans to add further yield solutions later this year, signalling that the $USD1 integration is a starting point rather than a finished product.

What USD1 Brings to Zebec's InfrastructureTimes of Blockchain reports that the rollout reaches more than 65,000 workers across the US and global markets, giving staff the ability to receive, use, and move $USD1 via wallets and cards issued by Zebec. Employees can also access funds through Zebec-issued cards, linking blockchain settlement with everyday payment rails.

$USD1 is custodied by BitGo Trust Company and backed by cash and short-duration US Treasury bills held through government money market funds. Launched in March 2025, the stablecoin had grown to a circulating supply near $4.5 billion by Q1 2026, making it one of the fastest-growing fiat-backed stablecoins in the market.

For Zebec, the integration also aligns with the platform's broader institutional ambitions. Zebec completed its final ZBCN token unlock in March 2026, shifting to a deflationary revenue-funded buyback model, and has been expanding its payroll infrastructure across multiple blockchains. The addition of $USD1 reinforces its position as a multi-chain payroll and payments platform targeting enterprise-scale adoption.

Sources:
CryptoNews: World LibertyFi's USD1 Is Now Live In The Zebec Super App
Times of Blockchain: Zebec Expands USD1 Daily Payroll to 65K+ Global Workers
Eco: USD1 Stablecoin by World Liberty Financial

According to on-chain data, since the launch of Trump’s official meme coin TRUMP in January 2025, among roughly 1.48 million wallets that purchased the token, 988,900 (about two-thirds) were in a loss position as of the end of June, with total realized and unrealized losses amounting to around $3.81 billion. Data shows only 492,300 wallets turned a profit, with total gains of approximately $4.04 billion, primarily concentrated among early participants who bought the token at prices below $1 during its launch phase. Calculated across all token-holding wallets, the overall net profit stood at roughly $236 million. Reports note that Trump’s recently disclosed annual financial statements show he earned around $636 million from the TRUMP meme coin, with total crypto-related revenue exceeding $1.4 billion in 2025. Additionally, Nansen’s analysis of WLFI—the governance token of Trump family’s DeFi project World Liberty Financial—reveals that among the 26,663 wallets that purchased WLFI on the secondary market, roughly 85% have recorded losses totaling around $83 million, while total gains stand at approximately $23 million.

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Institutions: Bitcoin's decoupling from U.S. stock market trends may only be temporary.

Despite the U.S. stock market hitting successive new highs, Bitcoin has underperformed so far this year, but asset management firms Hashdex and Charles Schwab both believe this divergence will not persist long-term. Hashdex Chief Investment Officer Samir Kerbage noted that current market capital is flowing more into themes like AI infrastructure, IPOs, and interest rate trading rather than digital assets, a reflection of shifts in capital allocation rather than a deterioration of the crypto sector’s fundamentals. He pointed out that stablecoin trading volume in the first half of this year has already exceeded the full-year 2025 level, the size of tokenized real-world assets (RWAs) has grown by over 60% year-to-date, crypto network transaction activity has also hit an all-time high, and the divergence between on-chain fundamentals and market valuations has reached a historic high. Meanwhile, Jim Ferraioli, Head of Digital Assets Research at Charles Schwab, holds that Bitcoin’s current trajectory still aligns with historical cycles following previous halving events. He explained that Bitcoin typically takes over a year to rebound above the production cost of inefficient miners, which currently stands at around $95,000, while the market’s average cost basis is roughly $80,000 – meaning the price may face ongoing selling pressure from investors exiting losing positions during a rebound. Ferraioli noted that while the "four-year halving cycle" is not an absolute rule, this pattern has profoundly shaped investor behavior. As the Bitcoin market matures, the magnitude of volatility in each future cycle may moderate somewhat.

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Deposits into Aave’s new Monad market surpassed $100 million within two days of its launch, while total deposits for Aave V4 hit a new all-time high, exceeding $250 million.

Decentralized lending protocol Aave’s V3 market on the Monad network has surpassed $100 million in total deposits roughly two days after launch. Aave deployed its V3 version on Monad on July 3, marking the first time lending functions and its GHO stablecoin have been introduced to the network. The launch initially supported 12 assets including USDT, USDC, GHO, WETH, and cbBTC. Deposits exceeded $75 million within the first 24 hours of going live. Per an Aave governance proposal, the Monad Foundation has committed to providing $15 million in incentives over the next 12 months, and will purchase and hold 10 million GHO for at least six months; Aave DAO will also contribute an additional 500,000 GHO to support stablecoin ecosystem development. Additionally, Aave founder Stani Kulechov noted that Aave V4’s deposit volume on the Ethereum mainnet hit a new all-time high of $250 million on July 5. He expressed expectations that V4’s deposits will grow further to $1 billion, with plans to continue expanding into crypto asset mortgage loans and securities-backed lending services.

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Vitalik: Ethereum to enter 'Lean Ethereum' phase, core protocol may undergo full overhaul in the next 3–4 years

Ethereum co-founder Vitalik Buterin published a post stating that Ethereum researchers recently held a meeting in Berlin, continuing discussions with client teams initiated in Svalbard in April, to update the blockchain’s long-term protocol roadmap. Vitalik noted that "Lean Ethereum" is not a single upgrade, but a series of protocol evolutions to be rolled out gradually over the next 3 to 4 years—its impact is comparable to The Merge as Ethereum’s second major iteration, while the current phase may mark its third major evolution. He outlined core upcoming changes for Ethereum: replacing direct execution verification with recursive STARK proofs, integrating post-quantum cryptography, adjusting the consensus mechanism to a decoupled design of available chain and finality, and implementing multi-dimensional gas models alongside state structure restructuring. At the state level, Ethereum may form a "two-tier state structure" around 2030, consisting of ~2TB of traditional dynamic state and ~100TB of new scalable state to support scaling needs across different application scenarios. Vitalik emphasized that privacy capabilities will no longer be an add-on feature, but a core goal of protocol design. The system will also rely more on formal verification to boost security, and push the EVM toward higher-level abstractions, with the underlying layer potentially transitioning gradually to RISC-V or leanISA architectures. Key parameters including gas limits, blob sizes, and block times will be adjusted multiple times over the next few years, as Ethereum continues scaling via client optimizations and protocol upgrades. Vitalik concluded that Ethereum is entering a phase of continuous restructuring and scaling, aiming to complete underlying system upgrades without disrupting the existing application ecosystem.

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The U.S. CLARITY Act has made further progress, while the county sheriffs' organization has shifted to a neutral stance.

The Major County Sheriffs Association (MCSA) has shifted its stance on the CLARITY Act from opposition to neutrality. In a letter to Senate Banking Committee Chairman Tim Scott and Senator Elizabeth Warren, the organization noted that some of its concerns about Section 604 of the bill have been addressed. Previously, the MCSA had warned that the provision could undermine, to some extent, law enforcement capabilities targeting illegal financial activities related to crypto assets. Section 604 is tied to the Blockchain Regulatory Certainty Act, with its core focus on limiting liability for developers of decentralized protocols. Supporters argue that developers should not be held liable as intermediaries for user actions, while law enforcement agencies had earlier raised fears that the provision could create regulatory and enforcement "loopholes" that would hinder investigations into cases like money laundering, ransomware, drug trafficking, and terrorist financing. Despite the neutral stance, the MCSA still calls for including local law enforcement agencies in relevant research and coordination mechanisms in future revisions to boost digital asset crime investigation capabilities. Analysts say this change removes a key obstacle to the CLARITY Act’s progress, boosting its feasibility of advancing to a Senate vote. However, opposition from the banking sector to stablecoin yield products and DeFi regulation remains a major uncertainty.

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Perspective: The next phase of tokenization will be "customized investment portfolios", rather than just improving settlement efficiency.

Thomas Sy, head of multi-asset solutions at New York Life Investment Management (NYLIM), stated that the next core application of tokenization will be "personalized portfolio construction" rather than just improving settlement efficiency or extending trading hours. NYLIM manages approximately $807 billion in total assets, with about $110 billion overseen by Sy’s team. He noted that blockchain technology will enable asset management firms to customize complex portfolio strategies for different investors at scale—a capability the traditional financial system currently struggles to deliver. Sy added that the future of asset management will center on "high customization," and blockchain is the only technological path capable of achieving this at scale. He emphasized that tokenization is not limited to putting ETFs, bonds or private credit on the blockchain; the key is to restructure the very way portfolios are built. He also pointed out that current portfolios often mix ETFs, bonds and private assets, but personalized strategies are difficult to scale due to operational complexity. Tokenization is expected to "embed customization logic into the assets themselves," reducing operational costs and boosting efficiency. Additionally, Sy said stablecoins have become a key entry point for traditional finance to access on-chain markets. Currently, the stablecoin market capitalization exceeds $300 billion, and they are being used for cross-border payments and fund management. He believes this trend will gradually drive institutional demand for on-chain yield-generating assets. On decentralized finance (DeFi), NYLIM is still researching related applications, but Sy stressed that institutional participation requires more mature infrastructure, including improved tokenized collateral, clearing mechanisms and prime brokerage systems.

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US national debt has hit $39 trillion, sparking long-term concerns, with analysts warning the risk of an unsustainable fiscal path is rising.

The size of U.S. national debt has risen to around $39 trillion, with public debt equivalent to the total U.S. GDP. Annual interest payments have reached roughly $1 trillion, exceeding the defense budget. The U.S. Treasury system traces its origins to the debt consolidation reform promoted by Alexander Hamilton in 1790, when the federal government assumed the war debts of individual states and promised full repayment, thereby establishing the U.S. credit system and laying the foundation for the global status of the U.S. dollar and U.S. Treasuries. Today, U.S. Treasuries are regarded as one of the core assets of the global financial system, underpinning the reserve currency status of the U.S. dollar and widely held by central banks and financial institutions worldwide. However, as the debt scale continues to expand, market concerns about its long-term sustainability have intensified. According to calculations from the University of Pennsylvania’s Wharton Budget Model (PWBM), when the debt-to-GDP ratio exceeds around 210%, the fiscal system may face unsustainability risks. Currently, the U.S. ratio stands at roughly 100%, and the U.S. Congressional Budget Office projects it could rise to 175% by 2056. Analysts note that in scenarios of rising healthcare spending and persistent fiscal deficits, this risk threshold could be reached earlier, and the long-term stability of the debt structure is facing more stringent market and policy tests.

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Peter Schiff Brands Trump Meme Coins Legal Bribes as Most Buyers Sit on Losses

Binance to Launch ETH Perpetual Contract Settled in USD1

Binance Futures will launch the USDⓈ-U margined ETHUSD1 perpetual contract on July 3 at 17:00 (UTC+8), with up to 100x leverage. The contract uses ETH as the underlying asset and World Liberty Financial USD (USD1) as the settlement asset.

BlackRock Transfers 4,917 BTC to Coinbase, Over 20,000 BTC Moved in 4 Days

Asset management giant BlackRock has transferred a total of 20,359 BTC to the crypto exchange Coinbase over the past four days, worth approximately $1.22 billion at current prices. The latest transfer alone was 4,917 BTC, valued at about $301 million.

Crypto-Friendly Erebor Bank Plans New Funding Round at Valuation of at Least $8 Billion

Erebor Bank, founded by Palmer Luckey, is in talks with investors for a new funding round, targeting a valuation of at least $8 billion, nearly double its $4.35 billion valuation at the end of last year. People familiar with the matter say the bank's deposits surged from $1.1 billion to $4.05 billion over the past three months, adding nearly 400 new clients, and it is expected to become profitable within the year. Erebor focuses on serving companies in sectors like defense technology and cryptocurrency and has obtained a national bank charter from the U.S. Office of the Comptroller of the Currency. Previous investors include Lux Capital, 8VC, Andreessen Horowitz, and Founders Fund. Erebor has also signed a non-binding letter of intent with Venezuela's Banco de Venezuela to provide correspondent banking services.

U.S. June Nonfarm Payrolls Rise by 57K, Unemployment Rate 4.2%, Both Below Expectations

U.S. nonfarm payrolls increased by 57,000 in June on a seasonally adjusted basis, compared to expectations of 110,000; the previous figure was revised from 172,000 to 129,000. The U.S. unemployment rate was 4.2% in June, versus expectations of 4.30% and the prior 4.30%. The U.S. unemployment rate unexpectedly fell to its lowest level in a year; June nonfarm payrolls sharply missed expectations.

Microsoft Forms New Team of Around 6,000 to Help Enterprises Deploy AI

Microsoft is forming a new team of around 6,000 people specifically to help enterprises deploy artificial intelligence at both the technical and strategic levels. The team includes members with backgrounds in engineering, corporate training, management, and vertical industries, and will engage more deeply in customer projects, helping optimize model selection, reduce AI usage costs, and in turn influence Microsoft's product iteration. The report noted that traditionally such low-margin implementation work has been handled by consulting firms, but in the AI era, vendors including Palantir, Salesforce, and OpenAI have begun placing engineers with customers, and Amazon's cloud division announced similar measures this week.

Strategy Shares Surge Over 8% Above $100, STRC at $90, Up About 3%

According to Bybit data, Strategy shares opened at $99.85 today and then edged up to $101.65, an increase of around 8.8%. Strategy's preferred stock STRC opened at $90, up about 3%.

Ondo Launches SEC-Compliant Tokenized IVV and Micron Products in the U.S.

Ondo Finance has launched tokenized products in the U.S. based on BlackRock's iShares Core S&P 500 ETF (IVV) and Micron (MU), using the third-party custody guidance framework issued by the U.S. SEC in January of this year. Under this model, the underlying securities remain within the traditional U.S. custody system, while tokens are minted 1:1 on Ethereum by Oasis Pro TA, an SEC-registered transfer agent owned by Ondo, and held by a qualified custodian. Token holders can enjoy the same shareholder rights and on-chain voting services as traditional securities accounts via Broadridge's ProxyVote.com, with transfer restrictions enforced by broker-dealers, transfer agents, and custodians in accordance with current regulatory requirements. Ondo says this is the first case of a publicly listed U.S. equity security being tokenized by a third party on a public blockchain using existing U.S. regulatory and market infrastructure.

Philippine Central Bank: Wholesale CBDC Can Be Used for Securities Settlement and Cross-Border Payments

The Philippine central bank (BSP) pointed out in its recently released "Project Agila" report that potential use cases for wholesale central bank digital currency (wCBDC) include financial securities settlement and large-value cross-border payments. Under wCBDC, commercial banks and financial institutions hold accounts with the central bank and conduct real-time peer-to-peer settlement via distributed ledger technology, potentially delivering higher automation, faster processing speeds, and lower transaction costs while maintaining an architecture similar to existing RTGS systems. BSP noted that using wCBDC for securities transaction settlement can shorten the gap between trade execution and final settlement, reduce settlement risk, and that it will use the project's experience to develop its subsequent CBDC roadmap.

SanDisk (SNDK.O) Intraday Losses Widen to 10%

According to Bybit data, SanDisk (SNDK.O) saw its intraday decline widen to 10%.

U.S. SEC Official Admits Crypto ETF Regulatory Missteps, Vows to Establish More Orderly Approval Mechanism

Brian Daly, Director of the SEC's Division of Investment Management, said on the "Trillions" show that the SEC acknowledges it "handled poorly" cryptocurrency ETF approvals in the past, damaging the industry's trust. The SEC is now pushing to establish a more orderly, asset-neutral approval process to handle the roughly 200 ETF applications received each month, including innovative products such as prediction markets. Daly stressed that the SEC supports financial innovation while protecting investors, and is considering introducing a confidential filing mechanism to prevent product ideas from being quickly copied.

Crypto Contract Liquidations Reach $585 Million in Past 24 Hours

According to CoinGlass data, total liquidations in the crypto contract market reached approximately $585 million over the past 24 hours, with about 130,500 traders liquidated. Long liquidations accounted for roughly $184 million, while shorts were around $400 million.

Humanity Protocol Pivots to Enterprise AI Business After $36 Million Hack

Terence Kwok, founder of Humanity Protocol, stated that following the approximately $36 million hack that resulted in stolen treasury funds and a crash in the H token, the project is pivoting from an "identity + blockchain" positioning to enterprise-grade AI products. The attack stemmed from a compromised developer laptop rather than a smart contract vulnerability; the attacker obtained the private keys of a Humanity Foundation member through a phishing email, then cross-chain minted and dumped tokens, causing the H token to drop by about 89% at one point. Kwok admitted the probability of recovering the funds is "very low," and the team will rebuild the ecosystem through a token migration and claims process, and has already reported the case to Hong Kong and multiple other law enforcement agencies, while advancing identity and asset attestation products for AI enterprises.

On-chain perpetual contract exchange Extended completes $12.5 million in strategic funding, led by eToro

Digital brokerage eToro announced it led a $12.5 million strategic funding round for on-chain perpetual contract exchange Extended, with participation from Jump Crypto and Alber Blanc. eToro plans to directly integrate Extended’s perpetual contract engine into the self-custody wallet Zengo, which it previously acquired for $70 million. Users will be able to trade on-chain derivatives while retaining custody of their assets, and a broader range of DeFi products will later be brought to its core platform. Extended is led by Ruslan Fakhrutdinov, former head of crypto at Revolut, and as of June had processed over $245 billion in trading volume, supported more than 100 perpetual markets, and plans to expand into spot trading, tokenized RWAs, and multi-asset collateral.

Securitize becomes the first company to simultaneously issue stock on the NYSE and on-chain

Tokenization firm Securitize (SECZ) began trading on the New York Stock Exchange on Thursday, opening at $12.45, reaching an intraday high of $13.70, and closing at $12.30. Securitize also launched a tokenized version of its full SECZ shares on Solana and Avalanche, enabling broader global market access and 24/7 trading. Securitize President Brett Redfearn stated that the company is engaged in substantive discussions with the capital markets divisions of major investment banks such as JPMorgan about tokenizing IPO allocations, and expects to see related implementations within the next three to six months or a year. Securitize uses an issuer-sponsored model where the token itself is the security, retains full rights such as voting and dividends, and can operate independently of the Depository Trust Company.

JPMorgan: Strategy’s Bitcoin sale policy introduces “avoidable two-way risk” to the crypto market

JPMorgan analysts said Strategy’s recent formalization of its Bitcoin sale policy introduces “avoidable two-way risk” to the crypto market, as the company could become both a buyer and seller of Bitcoin in the future. Strategy’s BTC Monetization Program allows the sale of up to $1.25 billion in Bitcoin to replenish cash reserves, pay preferred stock dividends and interest, or conduct buybacks; its current cash reserves are roughly $2.55 billion, covering about 17 months of dividends. JPMorgan recommends Strategy raise cash reserves to a 24- to 36-month coverage level by issuing common stock to increase dollar reserves, even if this causes the share price to fall below net asset value. The analysts noted that Strategy holds approximately 4% of Bitcoin’s total supply and has purchased roughly $13.7 billion in Bitcoin this year, accounting for about 70% of total digital asset flows as estimated by JPMorgan, so any future sale possibility would exacerbate market volatility. The crypto market has recently been under significant pressure, with Bitcoin weakening persistently after Strategy sold 32 BTC at the end of May. Analysts believe a stronger crypto market in the second half of the year depends on Strategy rebuilding reserves and the passage of the U.S. Clarity Act; if both conditions are met, current pessimism could become a contrarian signal for a bullish second half.

Robinhood CEO: The future of crypto lies in real-world assets, not Meme coins

Robinhood CEO Vlad Tenev stated in a CNBC interview that the key growth driver for the crypto industry is bringing real-world assets on-chain, not Meme coins. Tenev said, “If an asset isn’t tied to underlying utility, it’s not a productive asset,” and believes traditional finance and crypto are converging, “Everything that runs on traditional rails will eventually go on-chain and get tokenized, it’s like a freight train that can’t be stopped.” Robinhood launched its Stock Tokens service on Wednesday, allowing eligible users to trade tokenized stocks 24/7, and plans to offer exposure to private companies such as OpenAI. Tenev said Bitcoin will not become unimportant, but the next phase of industry growth will come from the tokenization of real-world assets.

Trump insists his massive crypto gains “pose no problem at all”

U.S. President Donald Trump responded on Thursday in a CNBC interview to financial disclosures showing that his family’s crypto business had made at least $1.4 billion in profits, saying “there’s nothing illegal, it poses no problem at all,” and indicated he did not know the specifics of his crypto operations. Trump said, “I could have known, but I don’t,” while stating his investments are managed by large institutions and that he “doesn’t even know who the managers are.” Trump said in the interview that his goal is to ensure America stays ahead in crypto, saying “Whatever we do, I want to be number one, and we are number one in crypto.” Critics point out that Trump did not divest assets during his term and may be profiting from the presidency. Disclosure documents show that Nvidia, Microsoft, Netflix, and ExxonMobil were the most frequently traded stocks in his portfolio.

A whale adds to BTC and SOL longs and holds HYPE short, total position size $78.36 million

A whale has added to long positions on BTC and SOL, currently holding a 20x long position on 1,072 BTC ($66 million) and opened a new 10x long position on 64,339 SOL ($5.2 million). The whale also holds a 10x short position on 106,994 HYPE ($7.16 million). The three positions total $78.36 million.

SEC Chair: Modernizing rules and regulations to facilitate market migration on-chain

U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins stated that over the past year the SEC has actively responded to President Trump’s goal of “making America the crypto capital of the world” and is taking historic steps to modernize rules and regulations to facilitate the migration of markets on-chain.

Russian Central Bank Governor: Digital Ruble to launch on September 1

Russian Central Bank Governor Elvira Nabiullina confirmed the Digital Ruble will launch as planned on September 1, saying everything is now “ready to go.” The Digital Ruble will serve as a complement to Russia’s fiat ruble, initially accepted by financial and credit institutions. Development of this CBDC began in 2021, and the EU had already imposed preemptive sanctions on the Digital Ruble in April 2025 as part of its response to Russia’s war against Ukraine. Russian Central Bank First Deputy Governor Vladimir Chistyukhin stated that legislation related to the Digital Ruble will take effect on September 1, with a transition period lasting until July 2027. In contrast, a U.S. housing bill containing a CBDC ban has been sent to Trump; it will automatically become law if the president does not sign it within 10 days, with the ban lasting until 2030.

Trump: Will not sign housing bill before signing election bill

U.S. President Donald Trump on Thursday refused to commit to signing a housing bill that previously won bipartisan support in Congress, instead demanding that Congress first pass the controversial Safeguard American Voter Eligibility Act. Trump called this election bill “the most important bill right now, one that will affect things for years to come,” saying that the legislation requires voters to present photo identification when voting and provide proof of citizenship when registering. Trump said the housing bill contains “a lot of provisions put in by Democrats” and stated, “I’d rather not sign any bill until the Safeguard American Voter Eligibility Act is signed.” The housing bill reportedly includes a four-year Federal Reserve central bank digital currency ban.

Ripple co-founder revealed to have invested in a company founded by a U.S. Senator’s son

Ripple co-founder and Executive Chairman Chris Larsen has been revealed to have invested in the derivatives exchange American Perpetuals Exchange Corp. (APEC), founded by Theodore Gillibrand, son of New York Senator Kirsten Gillibrand. The platform reportedly raised $30 million, with most investors contributing between $5,000 and $10,000. The investment comes as Gillibrand is involved in negotiating ethics provisions of the Clarity Act, a bill that will have a significant impact on the U.S. crypto industry. Gillibrand has publicly stated that "members of Congress and government officials should not be allowed to profit from the industry as insiders," but her spokesperson responded that Gillibrand "has no involvement" in her son's business. Senate Republicans hold only a slim majority and need some Democratic support to reach the 60-vote threshold. The Senate will reconvene on July 13 and recess in August, narrowing the window to pass the bill before the November election.

Russian Central Bank Governor: Cautious on stablecoins, only considering as supplement for international settlements

Russian Central Bank Governor Elvira Nabiullina stated at the Bank of Russia Financial Congress that the central bank is “paying close attention” to the use of stablecoins in international settlements, but only as a supplement to the digital ruble, and remains cautious on domestic stablecoin settlements, saying it “will not make it a priority.” Nabiullina disclosed that the central bank is intensively discussing the issuance of a state-controlled ruble-pegged stablecoin and analyzing the feasibility of using it in conjunction with the central bank digital currency for cross-border operations. Last week, the central bank proposed a draft regulatory framework for stablecoins, with the core requirement that all operations must be conducted under state control via exchanges or legal exchange points. The crypto regulation bill currently under review in the State Duma has not yet clarified the regulatory provisions for stablecoins. The bill was originally scheduled to take effect on July 1, but the second and third readings have been postponed.

Ukraine for the first time places seized crypto assets under state management, confiscates over 8.3 million USDT

Ukraine has for the first time placed seized crypto assets under state management. The Office of the Prosecutor General of Ukraine stated on Telegram that over 8.3 million USDT have been transferred to wallets controlled by the National Agency for Asset Recovery and Management. The USDT came from a suspected member of an international hacker group that launched cyberattacks against targets in Europe and the US, stealing confidential data and extorting ransom, with estimated losses exceeding $100 million. Four suspects, including the organizer, have been detained, and total assets seized exceed $11.1 million, including real estate, vehicles, $1 million in cash, and crypto assets. Ukraine legalized virtual assets in 2022 and is advancing tax and regulatory bills to align with EU standards. According to Chainalysis data, Ukraine ranks fourth in Europe in crypto transaction volume, receiving $206.3 billion from mid-2024 to mid-2025.

Wallet linked to Tim Draper deposited 1,000 BTC (~$61.82 million) to Coinbase Prime 7 hours ago

A wallet possibly linked to US venture capitalist and billionaire Tim Draper deposited 1,000 BTC ($61.82 million) to Coinbase Prime 7 hours ago. Tim Draper is a well-known venture capitalist who bought approximately 29,656 BTC (from Silk Road confiscated assets) at a US Marshals Service auction in 2014 at a price of about $632 per BTC, for a total of $18.7 million. Those BTC peaked in value at $3.74 billion and are currently worth $1.82 billion.

Predictive behavioral AI network THEA raises $8 million, led by Maven 11 Capital and others

THEA, a predictive behavioral AI network focused on risk markets, has completed an $8 million funding round to build its Solana-based coordination layer and expand AI infrastructure. The round was led by Maven11 Capital, Spartan Group, ManifoldTrading, HackVC and Fisher8 Capital. THEA was founded in 2024, headquartered in the Cayman Islands, and its AI models are trained on over 35 billion real-world decision data points; its core product provides predictive behavioral AI for risk markets. The company plans to launch THEA Network — a coordination layer that routes inference requests and settles transactions on Solana, while keeping heavy data processing off-chain. THEA also plans to introduce a utility token to tokenize access to its autonomous system.

Kuaishou's “Kling AI” close to completing $3 billion funding round, Middle Eastern fund may lead

Kuaishou's “Kling AI” is close to completing an independent funding round exceeding $3 billion, with a post-money valuation of $18 billion. The lead investor is reportedly a Middle East-backed fund, and well-known institutions such as Tencent, Alibaba, General Atlantic (5.080, 0.01, 0.20%), and Sequoia are also on the list of potential investors. Kling AI plans to complete restructuring and share reform in 2026 and is expected to officially submit its IPO application in early 2027. Notably, the $18 billion is a result of market “revaluation.” Kuaishou's initial expectation was $20 billion, which was later lowered due to feedback from capital markets. Even so, this is still the largest funding round globally in the AI video generation track in 2026. Public financial reports show Kling's revenue last year was about 1.04 billion yuan, accounting for only 0.73% of Kuaishou's total revenue. But entering this year, its commercialization pace has accelerated comprehensively: Q1 revenue surpassed 650 million yuan, soaring over 300% year-on-year; as of March this year, its annual recurring revenue (ARR) has reached $500 million. During the same period, Kling's global user base exceeded 60 million, with over 600 million videos generated, and it has provided API services to over 30,000 enterprises and developers. Based on the $18 billion valuation and $500 million ARR, Kling AI's current Price/ARR multiple is about 36x.

Riot Platforms deposits 500 BTC (~$30.72 million) to NYDIG Custody

Riot Platforms is selling BTC, depositing 500 BTC ($30.72 million) to NYDIG Custody.

Decentralized privacy protocol Hinkal experiences suspicious transaction, 800,000 USDC stolen

A suspicious transaction occurred on the decentralized privacy protocol Hinkal. EOA address 0xbB3f01a1b1C68F3DEB36C55342b5F5706c32fc20, after completing a “Proofless Deposit” operation, executed multiple “Transact” transactions, stealing approximately 800,000 USDC from the Hinkal contract.

Solana-based NFT platform Exchange Art to shut down on August 1

Solana-based NFT art platform Exchange Art announced it will officially cease operations on August 1, 2026. The platform stated that due to a prolonged downturn in the on-chain art market, it could not find a sustainable financial path and has decided to shut down. Users need to access their accounts and extract necessary information before the closure; all works and funds held in the platform's sales and custodial contracts will be released to owners before the shutdown. All artworks have been minted on the Solana blockchain and can be imported to other markets; artists and collectors do not need any additional steps to ensure their works are safe.

Robinhood Chain ecosystem TVL reaches $38.79 million

Robinhood Chain ecosystem total value locked (TVL) has reached $38.79 million, broken down as: Robinhood TVL $12.17 million, Morpho $9.75 million, Spark $8.48 million, Uniswap $5.49 million, Maple Finance $1.52 million, Ethena $1.11 million, Meridian $253,000, Pancakeswap $105,000.

Bitmine: Expects ETH/BTC ratio to strengthen in the second half of this year

Bitmine Chairman Tom Lee posted that the ETH/BTC ratio has strong reasons to strengthen in the second half of 2026, the core logic being that ETH's narrative as money is gaining market attention. Tom Lee points to three catalysts: sustained growth of stablecoins, the asset tokenization wave, and an increasing number of new forks and projects within the Ethereum ecosystem, all reinforcing ETH's store-of-value properties and driving its performance relative to BTC. Tom Lee explicitly expects the ETH/BTC ratio to continue rising throughout 2026 and emphasizes that this is a key metric worth ongoing attention.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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According to Donald Trump’s most recent financial disclosure, crypto assets have taken the lead as his largest reported source of income in 2025. This development means earnings from digital assets have outpaced Trump’s traditionally dominant revenue streams like real estate, golf, and resort operations.

Main sources of crypto income revealedA substantial portion of the reported income derived from memecoin projects bearing the Trump brand, as well as from World Liberty Financial—a decentralized finance platform supported by the Trump family. Hundreds of millions of dollars in revenue came not only from token sales but also from other business activities linked to the family.

Throughout 2025, most of Trump’s declared crypto earnings flowed from memecoin operations and World Liberty Financial. These ventures signaled that digital asset-linked enterprises now form a significant centerpiece within Trump’s overall business portfolio.

Mini glossary: World Liberty Financial is described as a DeFi-focused platform. DeFi, or decentralized finance, refers to blockchain-based systems enabling token trading, lending, and other on-chain transactions without traditional financial intermediaries.

Ongoing conflicts of interest debateDeputy White House Press Secretary Anna Kelly dismissed accusations of a conflict of interest. Kelly maintained that neither Trump nor his family have engaged in, or will engage in, any activities that could trigger such concerns. She further stated that Trump is working to turn the US into ‘the world’s crypto capital.’

Anna Kelly insisted that Trump and his family have avoided any actions that could lead to a conflict of interest, adding that President Trump is moving forward with the goal of establishing the US as the world’s crypto capital.

The release of Trump’s financial filing has reignited questions about the relationship between his crypto ventures and public policy. Lawmakers and civic groups have called for greater scrutiny of these commercial activities, emphasizing the need for more robust oversight.

Congress and civil society increase pressureConsumer advocacy group Public Citizen criticized the scale of Trump’s published crypto income, urging Congress to boost regulatory oversight of the President’s commercial activities related to digital assets.

Earlier reports highlighted an exclusive Mar-a-Lago event organized for major TRUMP memecoin holders. Since the memecoin launched in January 2025, entities connected with the Trump family reportedly generated over $320 million from transaction fees alone.

With the latest financial statement, these debates have now been supplemented by official government documentation. The records confirm that, for 2025, cryptocurrencies represented the largest category of Trump’s declared income.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Sen. Elizabeth Warren (D-Mass.) pushed for stronger legislation to bar President Donald Trump and his family from profiting off cryptocurrency, after new disclosures on Tuesday revealed income in excess of $1 billion in 2025.

Warren Demands Improved Crypto BillWarren said that the cryptocurrency legislation, i.e., the Clarity Act, eligible for a full floor vote in the Senate, must have provisions to stop Trump and his family from making money from cryptocurrency ventures.

Steve Rattner, a well-known Wall Street financier, weighed in on the financial benefits of the “Trump family’s White House self-dealing.”

‘Not A Good Look’Lawrence Lepard, an investment manager and Austrian economist, said that the disclosure didn’t give a “good look” and could spark political backlash against cryptocurrency if Democrats regain power.

Former Trump White House lawyer Ty Cobb was sharply critical of Trump’s cryptocurrency fortune, deeming it as “greatest onslaught of corruption in the history of mankind.”

Trump Made A Bomb With CryptoAccording to financial disclosure released on Tuesday, Trump’s cryptocurrency ventures netted him roughly $1.2 billion in 2025, the very first year of his presidency.

The windfall included over $520 million from the sale of tokens issued by World Liberty Financial and more than $635 million in royalties collected from the Official Trump (CRYPTO: TRUMP) memecoin.

The White House didn’t immediately return Benzinga’s request for comment.

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President Donald Trump holds more than $50 million in Bitcoin, stored in cold wallets, according to his 2025 annual financial disclosure released by the U.S. Office of Government Ethics. The filing is a detailed federal accounting of the president’s personal crypto position since he took office in January 2025.

In total, Trump reported generating more than $1 billion in crypto-related revenue last year, including $635 million in royalties from his memecoin venture and more than $500 million from token sales associated with World Liberty Financial.

The headline figure of over $50 million sits in a single line of the report. Under the entity CIC Digital LLC, an asset described as a “Cryptocurrency Wallet Virtual Bitcoin Key (held in cold wallet)” carries a valuation of “Over $50,000,000,” the highest bracket the disclosure form permits. 

The form does not require a precise number above that threshold, so the true size of the holding could exceed the stated floor. The Bitcoin line reported no income for the period, a result consistent with an asset held rather than sold.

The Bitcoin sits inside The Donald J. Trump Revocable Trust, dated April 7, 2014, of which the president is the sole beneficiary. That structure places the holding within the same trust that controls his stake in Trump Media & Technology Group, the parent of Truth Social. 

The cold-storage designation indicates the private keys are kept offline, a method that removes the asset from internet-connected systems and the custody of a third-party exchange.

Bitcoin is one of several digital assets in the cold wallets tied to CIC Digital LLC. The same entity reports an Ethereum key valued between $5 million and $25 million, a staked Ethereum position through a Coinbase staking agreement that produced $510,808 in validator rewards, a USDC stablecoin holding in the $5 million to $25 million range, and a smaller dollar-denominated wallet. 

Across the two largest asset classes, Bitcoin and Ethereum, the disclosed value runs past $100 million.

Separate disclosures also report that Vice President JD Vance holds Bitcoin valued between $250,000 and $500,000. Vance’s holdings have been previously reported. 

Trump and World Liberty Financial’s holdings A second cluster of crypto holdings appears under entities connected to World Liberty Financial, the decentralized-finance venture that carries the Trump name. 

Those wallets include a separate Bitcoin key valued at “Over $50,000,000,” an Ethereum key in the same top bracket, and positions in other crypto. The World Liberty entries also record large income figures tied to token sales, including more than $236 million in net proceeds distributed by World Liberty Financial LLC and a $150 million income figure on the Ethereum line. 

Trump’s disclosure reports more than $500 million in proceeds from token sales tied to World Liberty Financial, the Trump-linked venture behind the WLFI governance token, with the company’s combined wallet entries summing to roughly $527 million. 

The filing also records a $635,068,835 royalty payment under CIC Digital LLC, linked to a meme-coin licensing agreement with Celebration Coins. A related entity, DTTM Operations LLC, lists 15.75 billion World Liberty governance tokens valued in the top bracket.

The disclosure arrives at a moment when the president’s crypto interests intersect with his administration’s policy agenda. Trump has called himself somewhat of an ally of the digital-asset industry, and his government has moved to establish a federal posture toward reserves and regulation. 

The personal holdings detailed in the filing give the public a direct view of the scale of the assets the president owns in the sector his administration oversees.

A sitting U.S. president now reports holding more than $50 million of Bitcoin in self-custody, in cold storage, in the same manner long advocated by Bitcoin holders who prize control of their own keys. 

What the filing does not reveal is when the Bitcoin was acquired, at what price, or how the holding has changed across the year. The form’s bracket system caps reporting at the $50 million ceiling and offers no window into cost basis or timing. 

It’s important to note that the $635 million royalty figure appears as a single line in the filing (recorded under CIC Digital as a license agreement with Celebration Coins, which the document does not explicitly label a “memecoin”), the “more than $500 million” from World Liberty Financial and the “$1 billion” total are aggregations compiled by Bitcoin Magazine. 

The filing’s single stated token-sales line is $236.25 million, and larger figures were found by summing multiple separate crypto-wallet entries. It’s also worth flagging that several of these amounts are described as gross “proceeds from token sales distributed by World Liberty Financial LLC,” so they don’t necessarily represent net income to Trump himself.

Micah Zimmerman

Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a news reporter for Bitcoin Magazine, based in North Carolina.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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President Donald Trump’s cryptocurrency ventures have generated over $1 billion in income in 2025, according to his annual financial disclosure released on Tuesday.

WLFI, Memecoin Royalties Net A Windfall Trump’s income included over $520 million from the sale of tokens issued by World Liberty Financial, the cryptocurrency platform founded by his sons, and over $65 million from equity sales in WLFI’s holding company, WLF Holdco
LLC.

The filing disclosed $1.8 million in validator rewards generated from staked Ethereum (CRYPTO: ETH).

CIC Digital LLC, an affiliate of the Trump Organization that controls the ownership of Official Trump (CRYPTO: TRUMP) memecoin, reported collecting more than $635 million in royalties from so‑called "Celebration Coins.”

It’s worth adding that from its post-launch high in January 2025, the memecoin has declined by more than 97%.

The ‘Crypto President’The latest disclosure pointed to a sizable expansion in Trump’s cryptocurrency-related revenue streams. Last year’s disclosure recorded $57 million from those activities.

The first family’s foray into the cryptocurrency world has been lucrative. A June report estimated the family earned at least $2.3 billion from four cryptocurrency ventures since returning to the White House.

The ventures were promoted through social media and public appearances, and the Trumps licensed the family name rather than investing their own capital. The report mentioned that despite price declines, the family remained in profit while investors absorbed the losses.

Forbes now estimates Trump’s net worth to be $6 billion, a significant leap from $2.3 billion in 2024.

Price Action: At the time of writing, TRUMP was exchanging hands at $1.67, up 0.32% in the last 24 hours, according to data from Benzinga Pro.

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Disclosure Reveals Crypto as Trump's Biggest EarnerDonald Trump's annual financial disclosure for 2025 shows at least $1.4 billion in cryptocurrency-related income, making digital assets the largest single source of earnings during his second term. The 2025 filing was released by the U.S. Office of Government Ethics and spans more than 900 pages, covering the first year of Trump's second non-consecutive term.

Trump reported $635 million in royalties tied to what the disclosure describes as "Celebration Coins," connected to CIC Digital LLC, his meme coin business. The $TRUMP meme token launched on the Solana network just days before Trump retook office in January 2025. Separately, he pocketed more than $500 million from token sales connected to World Liberty Financial, the crypto company that he and his family have maintained an ownership stake in, even as it has drawn conflict-of-interest complaints.

The prior year's filing, released in June 2025, showed about $57.35 million from World Liberty token sales, meaning the 2025 total is roughly 25 times larger.

Bitcoin Holdings and Conflict-of-Interest QuestionsTrump also disclosed holding more than $50 million in Bitcoin, stored in cold wallets, according to the filing. The Bitcoin sits inside The Donald J. Trump Revocable Trust, dated April 7, 2014, of which the president is the sole beneficiary. Trump also reported holding between $5 million and $25 million in Ethereum, among other digital assets.

The numbers reignited a familiar debate over conflicts of interest, with ethics groups arguing that a sitting president should not profit from industries his own policies directly touch. White House spokesperson Anna Kelly dismissed those concerns, stating that neither the president nor his family has ever engaged in conflicts of interest. Even as Trump increased his fortune from crypto industry ties, the broader sector headed into a rough patch in which assets have plummeted in price and businesses struggle.

Sources:
Fox Business: Trump financial disclosure reveals more than $1B in crypto income
NBC News: Trump's financial disclosure lists $1.4 billion in crypto earnings
Decrypt: Trump Discloses Over $1.2 Billion in Crypto Earnings, $50M in Bitcoin Holdings

WLFI Is a Governance TokenOwning WLFI tokens gives you one thing: the right to participate in governance of the WLF Protocol. The official risk disclosures are direct about this. 

Holding the token does not provide any right to any dividend, reward, airdrop, or other distribution or form of income. If that framing sounds narrow, that is because it is supposed to be. The project explicitly says holders do not receive returns, dividends, airdrops, distributions, or any financial interest in World Liberty Financial LLC or its affiliates.

World Liberty Financial (WLF) is a DeFi protocol backed by the Trump family that launched its governance token, WLFI, in October 2024. The token sale raised a total of $550 million. 20% of the total token supply was offered at a fully diluted valuation of $1.5 billion, and as demand increased, an additional 5% was offered at a fully diluted valuation of $5 billion. 

As of late June 2026, WLFI trades at approximately $0.058, with a circulating supply of roughly 31.77 billion tokens and a market cap of approximately $1.85 billion.

What WLFI Token Holders Actually GetUnderstanding the token requires separating what is currently live from what is proposed or pending.

Governance Voting RightsHolders can steer the future of the platform by proposing and voting on changes to protocol rules and parameters through the WLF Governance Platform. Voting happens through Snapshot, an off-chain voting tool widely used in DeFi. 

Each WLFI token represents one vote. No single wallet or affiliated group may vote with more than 5% of the outstanding votable token supply, regardless of the total tokens held. This cap is intended to limit concentration of control.

There are practical limits here worth noting. World Liberty Financial is a Delaware non-stock corporation that screens proposals, uses off-chain Snapshot voting, and implements outcomes through multisignature wallets under company control, so token votes can be filtered or overruled for legal or operational reasons. That is meaningfully different from a DAO where on-chain votes automatically execute code.

Access to the WLFI Markets Lending PlatformThrough WLFI Markets, users can supply assets to earn potential rewards or use their digital assets as collateral to borrow funds. This lending and borrowing service is powered by the Dolomite protocol and launched in January 2026.

Cross-Chain Transfers and Conversion ToolsUsers can transfer USD1 or WLFI tokens between integrated networks and quickly convert other cryptocurrencies for USD1 or WLFI and vice versa. The bridge currently supports Ethereum and Solana.

A Staking Yield Mechanism (Passed, Rolling Out)A governance proposal introduced in February 2026 passed with 99.16% community approval and is now being implemented. Under the system, unlocked WLFI tokens must be staked for at least 180 days to gain governance rights. Stakers who participate in at least two governance votes during their lock period earn a base reward with a 2% annualized yield target, funded from the WLFI treasury.

The system also introduces tiered participation levels. Participants staking at least 10 million WLFI, roughly $1 million at recent prices, are labeled "Nodes" and gain access to licensed market makers to convert USDT and USDC into USD1 at a 1:1 rate. Those staking more than 50 million WLFI are designated "Super Nodes," with benefits that include priority access to partnership discussions with the development team.

Token Supply and Allocation ContextWLFI has a maximum supply of 100 billion tokens. The initial token allocation was heavily concentrated, with 33.5% allocated to the team and advisors. Of that 33.5%, 22.5% is held by the Trump family and affiliated business entities. 

Some sources place the combined non-public allocation even higher. Reports indicate approximately 70.8% of the supply is allocated to the founding team, advisors, and service providers, with the 33.5% figure covering the formal team and advisor category specifically. Either way, public token buyers hold about a third of all tokens, meaning insiders could outvote outsiders on every governance proposal.

It is also worth noting that the public $550 million raise was not the full picture. A Bloomberg investigation revealed that after the two public fundraising rounds, World Liberty Financial sold an additional 5.9 billion WLFI tokens to accredited private investors in transactions that were not publicly disclosed, potentially raising hundreds of millions of dollars more, with a significant portion of proceeds going to founder-affiliated entities. This undisclosed sale was discovered by intelligence platform Tokenomist(.)ai after examining World Liberty's governance filings.

What Does WLFI Token NOT Give You?This is where many buyers have been caught off guard.

No dividends or equity-style returns from protocol revenues. The Gold Paper states that WLFI is not equity or a share in any entity, does not confer any financial interest in any entity, and does not provide a right to any return, dividend, airdrop, or other distribution from protocol operations. Note that the 2% annual staking yield introduced in February 2026 is not a dividend or revenue share. It is a treasury-funded incentive paid only to holders who stake their unlocked tokens for 180 days and vote in at least two governance proposals. It is participation-based, not passive, and comes from the WLFI treasury, not from protocol profits.

No ownership in World Liberty Financial. The token provides governance input over the WLF Protocol only, not the company itself. The token does not provide any economic or other rights with respect to the WLF Protocol or otherwise. Token holders will not have any rights to any fees generated by the WLF Protocol or earned by the company.

No guaranteed liquidity. Early buyers faced long lock-up periods. On around September 1, 2025, 20% of tokens purchased during early rounds became available for unlocking. The WLFI community then passed a governance proposal in May 2026 establishing a structured unlock schedule for remaining locked tokens. Holders who do not accept the unlock schedule keep their tokens locked indefinitely, though they retain governance voting rights.

No share of protocol revenues for retail holders. According to the official Terms and Conditions, all net protocol revenues are split entirely between insider entities. DT Marks DeFi, LLC and its affiliates, including Donald J. Trump, are entitled to 75% of net protocol revenues from any sources, after deduction of agreed reserves and expenses. The remaining 25% goes to other WLF directors, officers, advisors, promoters, and service providers. Retail WLFI holders receive none of it. The USD1 holding campaigns run by Binance and Bybit distribute WLFI tokens as incentives, but those are exchange-run marketing programs using WLFI from the treasury allocation, not distributions of protocol revenue to retail holders.

Is WLFI Governance Real or Mostly Symbolic?Even the most engaged prior vote attracted only 11.1 billion WLFI in voting power, with a quorum of just 1 billion required to pass proposals. That is a low bar for a token with 100 billion total supply, suggesting most holders do not actively participate. The February 2026 staking proposal received overwhelming support but more than 76% of the voting power came from just ten users, raising persistent questions about whether governance is truly decentralized.

The Justin Sun dispute in April 2026 sharpened those concerns further. Sun claimed that he had been denied the voting rights he had been promised for the WLFI token and that wallets had been frozen. Sun's allegations, if true, reveal that World Liberty retained sweeping unilateral control over WLFI. World Liberty Financial denied wrongdoing and the matter went to federal court in California.

The HTX incident in June 2026 made the freeze function even more visible. WLFI froze on-chain addresses linked to HTX on June 5, 2026 with no prior notice, locking assets belonging to individual retail users. HTX suspended four WLFI and USD1 trading pairs, converted all user USD1 balances to USDT at 1:1, and fully delisted USD1 on June 7, 2026. 

The root cause was that the UK designated Huobi Global S.A., the entity linked to HTX, under Russia sanctions on May 26, 2026, and WLFI cited its sanctions compliance framework as the basis for restricting token circulation on HTX-linked addresses. HTX stated the frozen assets belonged to individual retail users, not to any sanctioned entity, and formally demanded WLFI lift the freeze.

WLFI Tokenomics: The Numbers You Should KnowOn the supply side, the circulating supply currently stands at approximately 31.77 billion tokens, representing 31.77% of the 100 billion maximum supply. This is a meaningful increase from the roughly 27 billion figure reported earlier in 2026, reflecting tokens released through the structured unlock schedule passed in May 2026.

The protocol intends to use its net revenue to repurchase WLFI tokens from the open market and burn them, permanently removing tokens from circulation to reduce the overall supply. Token burns are a common tokenomics tool across DeFi projects to manage circulating supply over time, used by projects like BNB and others, though the effect depends on burn volume relative to total supply.

On the ecosystem front, Binance Wallet launched a campaign from June 19 to July 18, 2026, distributing 16 million WLFI tokens to users who interact with the USD1 stablecoin on partner protocols like PancakeSwap, Lorenzo Protocol, and Lista DAO, with eligible activities including lending, staking, and providing liquidity. This is the most active exchange-level incentive campaign currently running within the ecosystem.

ConclusionWLFI is a governance token that gives holders a capped vote on WLF Protocol decisions, access to a lending and borrowing platform via WLFI Markets, cross-chain transfer tools, and a participation-based 2% annual staking yield for those who commit to a 180-day lock and actively vote. It does not give holders dividends, revenue sharing, equity in World Liberty Financial, or any guaranteed return.

The project has exercised its on-chain freeze function in multiple high-profile disputes, including against Justin Sun's wallet in 2025 and HTX-linked user addresses in June 2026. Anyone evaluating WLFI should read the official risk disclosures carefully, track the ongoing unlock schedule, and treat the freeze function as a live variable in any risk assessment.

ResourcesWorld Liberty Financial Risk Disclosures – Official token rights, limitations, and holder obligationsWorld Liberty Financial Token Unlock – Full unlock schedule, eligibility, and smart contract processWorld Liberty Financial Official Site – WLFI Markets, AgentPay SDK, and bridge toolsCoinMarketCap: WLFI – Live price, circulating supply, and market cap dataTokenomist: WLFI Vesting Schedule – Circulating supply breakdown and full unlock timelineDuke FinReg Blog: Is WLFI an Unregistered Security? – Legal analysis of the Gold Paper and securities classificationThe Block: WLFI Staking Governance Proposal – Original reporting on the 180-day staking and 2% yield proposalCoinPaprika: HTX Delists USD1 After WLFI Freeze – Full timeline of the June 2026 HTX freeze and USD1 delistingBitcoinist: WLFI Undisclosed Token Sales – Bloomberg investigation into undisclosed 5.9 billion WLFI token salesCoinMarketCap: WLFI Latest Updates – June 2026 Binance campaign details and current ecosystem news