USD1 price

Former Binance CEO Changpeng Zhao allegedly supported crypto projects tied to the Trump family while privately seeking a presidential pardon, according to a July 11 Bloomberg News report. The report claimed that Binance wrote the foundational smart contract code for USD1, a stablecoin issued by World Liberty Financial, a company affiliated with President Donald Trump. Three people familiar with the matter told Bloomberg that Binance’s involvement enabled USD1 to be used in a $2 billion investment in Binance made by UAE-based MGX. Blockchain data reviewed by Bloomberg showed that approximately 90% of USD1’s $2 billion total supply is held in Binance wallets. The token’s prospectus indicates the Trump family could receive around $30 million annually from interest earned on reserves backing the stablecoin. A Binance spokesperson told Bloomberg the USD1 listing followed its “standard process,” emphasizing that Zhao’s pardon application is “a personal one” and unrelated to company activities. Zhao, who pleaded guilty in 2023 to anti-money-laundering violations and spent time in a California halfway house, confirmed his pardon request during a Farokh Radio podcast interview. World Liberty denied the allegations, calling them “factually deficient and designed to further a political agenda.” Zhao has also denied the allegations levied by previous reporting by the Wall Street Journal. Ethics experts raised concerns about potential conflicts of interest. Richard Painter, former chief ethics counsel under President George W. Bush, said, “We have never had this since the Civil War: a president whose personal financial interests conflicted with his official duties.” The Trump administration maintains that the President has no conflicts, citing a trust structure overseen by Donald Trump Jr. An ethics agreement released before Trump’s presidency stated he receives only general business updates. Bloomberg reported that crypto initiatives tied to Trump have added at least $620 million to his fortune in recent months. Two sources said Zhao met World Liberty co-founder and Trump ally Steve Witkoff at a Bitcoin conference in Abu Dhabi in December 2024, although a person close to Witkoff denied the meeting took place. Witkoff, now Trump’s special envoy to the Middle East, plans to transfer his World Liberty Financial interests to his adult sons, according to White House counsel David Warrington. By mid-March, Binance and World Liberty were reportedly discussing a new stablecoin, and weeks later, World Liberty announced plans to issue a token on BNB Smart Chain. Around the same time, the Wall Street Journal reported that Zhao was requesting a pardon from Trump. The post Binance allegedly wrote the code for WLFI’s stablecoin USD1 appeared first on CryptoSlate.

The world’s largest digital asset exchange by trading volume may have played a larger role in the development of World Liberty Financial’s stablecoin USD1 than previously known. According to a Bloomberg report citing unnamed sources, Binance wrote the code for World Liberty Financial’s USD1 stablecoin smart contract. Once coded and promoted, Binance also made stablecoin available for a $2 billion transaction, completed in USD1. According to Bloomberg, approximately 90% of all USD1 is still in Binance-controlled wallets. USD1 launched in March 2025. Two months later, during a podcast interview, former Binance CEO Changpeng Zhao, who was convicted in 2023 of failing to maintain proper anti-money-laundering standards at Binance and has already served a short prison term, confirmed that he had applied for a presidential pardon. The news spurred three US senators to write a letter to the White House seeking answers: “We write to request information about reports that Changpeng ‘CZ’ Zhao, founder and majority owner of cryptocurrency exchange Binance, is seeking a pardon from President Trump. Just weeks ago, Binance, Emirati firm MGX, and World Liberty Financial (WLF)—a cryptocurrency company financially linked to President Trump and his family—announced a $2 billion deal involving USD1, WLF’s stablecoin. The convergence of Mr. Zhao’s pardon application and Binance’s financial entanglements with the President’s family presents urgent concerns regarding the integrity of our justice system… Though he stepped down from his role as CEO after pleading guilty to these charges, Mr. Zhao still owns 90% of the company.” According to a World Liberty Financial spokesperson, Bloomberg’s reporting is “factually deficient and designed to further a political agenda.” A Binance spokesperson reiterated that CZ is no longer the exchange’s CEO. World Liberty Financial is linked with Donald Trump but apparently not controlled by him, escaping any conflict of interest with his presidential duties. Trump has reportedly placed all his assets in a trust controlled by his oldest son.Follow us on X, Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix   Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Binance Helped Trump-Linked Crypto Firm Before Founder Changpeng Zhao Sought Pardon: Report appeared first on The Daily Hodl.

I bought it a long time ago and have never touched it! #EGL1 Is this still a dirt dog? It's really like BTC! I won the championship in that tournament, let's see if I have a chance to break through!

Stable season is officially here when you see massive looping opportunities. @aegis_im's $YUSD has a pretty strong play on @eulerfinance via YUSD/USD1 vault curated by @Re7Capital rn. Here are 2 key strategies on @BNBCHAIN: 1. Leverage Looping (Maximise ROE) Option A: Manual recursive borrowing Deposit $YUSD → Borrow $USD1 → Swap USD1 to YUSD → Repeat Option B: Euler's Multiply feature Max 10x leverage → ~1.5% slippage (cur. 0.15% price impact per loop) 🔸(Max.) ROE: 88% 🔸(Max.) Aegis Points Multiplier: 9 * 3x = 27x *since max. LTV = 90% so max. multiply YUSD principal by 9x 2. Supply YUSD (Simple & Direct) on YUSD/USD1 vault 🔸Supply APY: 13.03% (>2x of native yield) 🔸Aegis Points Boost: 3x multiplier which is still much higher ROI than simply HODL-ing YUSD. Reminder: Max leverage loops carry liquidation risk so manage accordingly, NFA