Trump-Linked USD1 Stablecoin Skyrockets to $2.1B Market Cap in Days

Since late April, USD1—a stablecoin launched by Trump-affiliated World Liberty Financial (WLFI)—has seen its market capitalization surge from under $130 million on April 27 to over $2.1 billion today, according to CoinGecko. CoinMarketCap and DeFiLlama data confirm the token’s supply jumped by more than $720 million in a single day (April 28), and exceeded $2 billion by April 30.

Major Minting Activity on BSC

BscScan, the primary block explorer for Binance Smart Chain where USD1 is primarily minted, recorded multiple large issuances in this period. Transactions ranged from 50 million to as much as 99 million USD1 tokens, fueling the rapid expansion in circulating supply.

MGX-Binance Deal Drives Demand

On May 1, Abu Dhabi investment firm MGX announced it would use USD1 to settle a $2 billion investment into Binance. Brandon Kae attributes USD1’s meteoric supply growth to this high‑profile deal, suggesting institutions are increasingly open to using stablecoins for large-scale settlement.

Backing and Distribution Model

USD1 went live in April after WLFI unveiled its plans in March. Like its peers, the coin is fully collateralized by short‑term U.S. Treasuries, dollar deposits, and cash equivalents. WLFI also plans to airdrop a small portion of USD1 to holders of its native WLFI token, both as a reward and to test on‑chain distribution methods.

USD1 joins a crowded market now valued at approximately $231 billion, dominated by Tether’s USDT ($149 billion) and Circle’s USDC ($60 billion), which together represent over 90% of U.S. dollar–pegged tokens.