Wanted by Donald Trump, World Liberty Financial, the cryptocurrency company of Justin Sun Advice, has launched Stablecoin, USD1.
However, despite this multi-billion dollar growth, tokens do not effectively provide transparency. Neither audit nor proof is even a transparent webpage intended to show your holdings.
Tokens are provided in cooperation with Bitgo, which has a website page dedicated to Token.
However, the page claims that the token is “100% supported by the short-term US government's Treasury Department, US dollar deposits and other cash equivalents.” No additional evidence will be provided Or insight beyond that.
read more: All tokens in the world's Liberty Financial portfolio are bad
This lack of transparency contrasts with other popular Stablecoins, including Tether (USDT), USDC, Paxos Stablecoins, and many others, in contrast to USD1.
That's despite the fact that it has already been adopted by well-known individuals and companies, such as when used by Abu Dhabi-based MGX. Billion dollar worth of binance stocks.
Coingecko's data suggests that USD1 has reached a total market capitalization of $2.2 billion, surpassing some of the old, ridiculous, ridiculous, like TrueUSD, First Digital USD and PayPal USD.
read more: Who is behind Trump's new cryptography, World Liberty Financial?
This growth was dominated by the massive mint at the end of April, coinciding with the announced investment in MGX investments.
Protos reached out to X's World Liberty Financial in a question about plans to disclose this information, but did not immediately respond.
