- WLF to release first audit of USD1 stablecoin, aiming to boost user confidence.
- WLFI governance token may soon become tradable, signaling new investor access phase.
- Trump’s 15B WLFI stake sparks ethical debate amid easing crypto regulations.
World Liberty Financial, the cryptocurrency venture tied to U.S. President Donald Trump, is preparing to release its first audit of the USD1 stablecoin. This development could mark a critical moment for the platform as it moves to establish credibility in the competitive digital currency space.
The audit, expected to be published within days, aims to verify that the stablecoin is fully backed by U.S. dollar reserves. This would offer users greater transparency and potentially increase investor confidence in the project.
Besides the audit, World Liberty Financial (WLF) is also planning a mobile application designed to simplify everyday crypto use. The platform’s growing ambitions reflect a broader strategy to capture a share of the retail and institutional digital asset markets.
The company’s co-founder, Zak Folkman, shared these updates during the Permissionless conference in Brooklyn. He also teased a possible change to WLFI, WLF’s governance token, which could soon become transferable.
Stablecoin Seeking Legitimacy
The soon-to-be-released audit will be WLF’s first public financial attestation. According to Folkman, the report was completed by an independent accounting firm and will be available on the company’s website. This move is seen as an effort to address transparency concerns, particularly given the growing scrutiny from lawmakers and watchdogs.
USD1, the platform’s stablecoin, claims to be backed one-to-one by U.S. dollar reserves. With stablecoins playing a growing role in both decentralized finance and real-world transactions, reserve backing is crucial. Hence, the audit could become a turning point in how the market views USD1.
Governance Token Could Go Tradable
The governance token WLFI, currently non-transferable, may soon see a shift in its status. Folkman indicated that users should expect updates soon, suggesting a new phase of WLFI’s evolution. WLF has raised around $550 million through the sale of 25 billion WLFI tokens, with private investors reportedly involved as well.
Significantly, President Trump holds over 15 billion WLFI tokens and has earned over $57 million from the project, according to government filings. Critics argue this creates ethical concerns, especially as his administration eases crypto regulations.
