The Donald Trump-affiliated World Liberty Financial announced in a June 4 statement that it airdropped $4 million worth of its new stablecoin, USD1, to holders of its native token, WLFI.
Trump-Linked Crypto Platform Sends Out Stablecoins
“Over $4,000,000 USD1 just airdropped,” an official X post published on Wednesday read. “Every eligible WLFI holder received $47 USD1 (excluding NY and certain other jurisdictions).”
“No claims. No links. No drama. Just sent,” the crypto company added.
Launched on the Ethereum Mainnet, the surprise airdrop fulfills a proposal introduced by World Liberty Financial in April, designed to test its airdrop capabilities by distributing small amounts of the cryptocurrency to eligible holders.
“This will allow World Liberty Financial to validate the technical functionality of its airdrop system in a live environment while thanking early supporters of the project,” the proposal reads.
Trump Faces Political Scrutiny for Crypto Ventures
USD1 made headlines in May after it was revealed that the cryptocurrency would be used to finalize a deal between Abu Dhabi-based investment firm MGX and Binance, leading to increased political polarization between Democrats and Republicans.
Trump’s family has strong ties to the crypto project, with his sons Eric, Donald Jr., and Barron listed as “Web3 ambassadors” and a “DeFi visionary” on the platform, respectively.
As Congress moves to regulate stablecoins with the GENIUS Act, U.S. lawmakers have expressed concerns over Trump’s crypto ventures during his time in the Oval Office.
Senator Elizabeth Warren (D-MA) has spoken out against the Trump family’s affiliation with the blockchain sector as a whole, singling out potential ethics concerns regarding Trump’s connection to USD1 and World Liberty Financial at large.
“The GENIUS Act will accelerate Trump’s corruption by supercharging the size of the stablecoin market and the reach and profitability of USD1,” Warren said. “And, for the first time in American history, it also makes our president—Donald Trump—the regulator of his own financial product.”
The post Trump-Affiliated World Liberty Financial Airdrops Millions in USD1 Stablecoin appeared first on Cryptonews.
