World Liberty Financial (WLFI), where President Trump and his sons Donald Jr., Eric and Baron hold leadership positions, have launched a new crypto venture. WLFI has introduced USD1, a Stablecoin awarded in the US dollar, “inspired by President Donald J. Trump.”
USD1 is “in 100% favored by the short-term US government Treasury, US dollar deposits and other cash equivalents,” according to the announcement.
The token will be launched on the Ethereum and Binance Smart chains and plans to expand. Each token is intended to hold a value of 1:1 in US dollars supported by reservations regularly audited by third-party accounting firms.
“USD1 offers something that algorithms and anonymous cryptographic projects cannot – access to the power of (decentralized finance) supported by the reliability and protection measures of traditional finance.”
He added:
Sovereign investors and key institutions offer digital dollar stability that allows them to confidently integrate into strategies for seamless, secure cross-border trading.
Stablecoin reserves are managed by Bitgo, the leading regulated digital asset manager. Bitgo Prime also supports USD1, providing access to liquidity and transaction from “insured and regulated and qualified custody.”
The company has made it clear that USD1 does not offer interest to its holders. Instead, the token emphasized a conservative approach, saying that “complex yield generation mechanisms” would avoid the “complex yield generation mechanisms” that are common in high-risk, decentralized finance products.
WLFI also offers the second token WLFI alongside USD1. A few days before Trump took office, both Donald and Melania Trump launched their own Memecoin, $Trump and $Melania, expanding their family's code footprints even further.
Accepting digital money
Upon his office, Trump issued an executive order placing Stablecoins as a key pillar of his crypto strategy. On March 6, he ordered the creation of “Strategic Bitcoin Reserves and US Digital Asset Stockpiling.” The goal is to leverage Bitcoin as a strategic financial asset while strengthening America's position in the global digital currency race. Order says,
President Trump has pledged to make the United States “global crypto capital,” and stressed the need to embrace digital assets to promote economic growth and technological leadership.
The bill is currently moving through Congress (see here and here) aimed at codifying executive orders. They will mandate Bitcoin acquisitions through the Federal Reserve and formalize the national digital asset sanctuary.
That genius act
In addition to Bitcoin bills, there is the Genius Law (PDF). It was advanced by the Senate Banking Committee on March 13th, marking Washington's biggest move to regulate crypto. But not everyone is rooting for you.
This bill creates a legitimate path for stablecoins under federal or state licenses. Separate stubcoins from securities and goods, protecting the issuer from the Securities and Exchange Commission (SEC). But in exchange, they layer them with audit, registration, and booking proxy compliance. Larger publishers fall under federal oversight. Small players stay in the state.
On paper, it looks like a step towards clarity. In reality, it's programmable money in government-sanctioned shells. It normalizes Stablecoins as a financial infrastructure, while strengthening the central role of the dollar.
Critics say these controls aren't just about “protecting consumers.” Just like with banks, it enables monitoring, authorization, and control. By default, it's faster and digital.
A genius act may justify a stubcoin. But that brings them to systems where surveillance is not a problem. That's the feature.
Actual risk: Programmable force
The government has framed its cryptographic push as a path to freedom, decentralization and the challenge of the Fed monopoly. However, critics warn that it is a digital reset designed to tighten controls rather than loosen them.
Investigative journalist Whitney Webb has long warned about the dangers of digital currencies related to state or corporate power. In an interview in February, she argued that stubcoins, such as central bank digital currency (CBDC), actually erode decentralization by making money “monitorable, seized, and ultimately programmable.”
She also points out how Stablecoins can be used overseas. US-related institutions such as the IMF and the World Bank said they could deploy them to secretly dollarize fragile economies, particularly in the global South. She noted that many of these countries have been deliberately unstable due to US sanctions. This will help the US maintain control while you have debts from balloons at home. the goal? Expand control without obvious intervention. In her words, it is the quiet work of “the financial weapons of the US Empire.”
Former HUD official, Katherine Austin Fitz, reflects those concerns.
In her 2020 essay The Injection Fraud, she warned,
The first and most important goal is to replace the existing US dollar currency system used by the general population, which will be replaced by a digital transaction system that can be combined with digital identification and tracking. The goal is to end currencies that know their currency and replace them with an embedded credit card system that can integrate with a variety of forms of control, including potentially mind control.
She also denounced the idea of a Bitcoin Reserve. In a 2024 article recently republished by New American, she called it a cipher elite bailout and gave political coverage to a taxpayer-funded speculative exit strategy. “If governments can afford to buy crypto, they can instead afford to cut taxes. Citizens don't need Bitcoin to combat inflation. They need low taxes, infrastructure and public services to support a productive economy.”
Crypto is linked within the administration
The surge in codes placed on Trump is not happening in a vacuum. It is supported by insiders with deep connections to funding and technology.
Cantor Fitzgerald Chairman, Commerce Secretary Howard Lutnick, holds financial stakes in Tether, the largest dollar-grown Stablecoin. His company manages most of Tether's US Treasury holdings. Tether also works extensively with US government agencies, including the Department of Justice (DOJ), the Federal Bureau of Investigation (FBI), and the Secret Service.
Elon Musk, a leading government contractor with immense political influence through the Department of Government Efficiency (DOGE), is working to turn X into a Wechat-style “all apps.” He recently partnered with Visa to deploy digital payments on the platform. The initiative, Brand X Money, aims to support crypto transactions, including Stablecoins. It raises new concerns about the private financial system that is closely integrated with state power.
Another big guy is Trump's “Crypto Czar,” venture capitalist David Sacks. Through his company's craft venture, Sacks supported several crypto companies and funding. He recently sold $200 million in crypto stock to comply with government ethics rules.
Finally, there is Treasury Secretary Scott Bescent. A prominent hedge fund manager with connections with Soros' founders of Key Square Group, he actively promotes digital assets and supports deeper crypto integration into US monetary policy. Prior to taking office, he sold $521 million in crypto stake.
Together, these connections show more than the industry's momentum. They mark the public-private merger of money, technology and political power, along with the architecture of control, under the banner of innovation.
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