Trump Stablecoin Now Seventh-largest Worldwide
USD1, the US dollar-pegged stablecoin launched by World Liberty Financial (WLFI), which has the backing of President Donald Trump, has quickly risen to become the seventh-largest stablecoin globally, just two months after its debut.
WLFI is currently conducting a snapshot vote on a proposed USD1 airdrop, while USD1’s market cap continues its upward trajectory.
Introduced in early March with an initial supply of $3.5 million, USD1 has since expanded to reach a market capitalization of $2.2 billion at the time of writing, surpassing stablecoins such as First Digital USD, PayPal USD, and Tether Gold, as per CoinGecko data.
Despite this rapid rise, USD1’s market value still trails far behind the leading stablecoins, including Tether’s USDT and USDC, which have market caps of $149 billion and $61 billion, respectively.
The majority of USD1’s issuance takes place on the Binance-backed BNB Chain. BscScan data shows that around $2.1 billion of USD1’s supply exists on the BNB Chain, representing over 99% of the total circulation, while only about $14.5 million is present on Ethereum, according to Etherscan.
In late April, USD1’s market cap experienced a dramatic increase, jumping by 1,540% from $128 million to $2.1 billion within two days, according to CoinGecko figures.
This surge happened shortly before Eric Trump revealed that Abu Dhabi-based investment firm MGX planned to use USD1 for a $2 billion investment in Binance.
Following the surge in USD1’s market cap, several centralized exchanges (CEXs) moved quickly to list the Trump-backed stablecoin.
HTX, the exchange formerly known as Huobi and associated with Tron founder Justin Sun, announced on May 6 that it would list USD1 with permanent zero-fee withdrawals on the BEP-20 network.
According to CoinGecko and CoinMarketCap, HTX was among the earliest centralized platforms to offer USD1, which is otherwise primarily traded on decentralized exchanges like PancakeSwap and Uniswap.
Amid the WLFI community’s vote on the USD1 airdrop, reports have surfaced indicating that the bulk of WLFI’s investment is coming from outside the United States.
A poll conducted by V1PS founder Notaz.Sol suggested that about 90% of WLFI investors may be based in regions such as Europe, Asia, and Latin America.
Additionally, a Bloomberg report from May 7 found that over half of the largest holders of Trump-branded memecoins are located abroad.
USD1’s growth aligns with Trump’s pro-stablecoin policies, as outlined in his January executive order titled “Strengthening American leadership in digital financial technology.”
Although WLFI has been seen as closely tied to Binance, both Trump and Binance have consistently denied any formal relationships or agreements between them, and have criticized media reports claiming otherwise.
Sources:
https://cointelegraph.com/news/trump-backed-usd1-is-now-the-seventh-largest-stablecoin-worldwide
https://www.bloomberg.com/graphics/2025-trump-memecoin-foreign-crypto-traders/
https://bscscan.com/token/0x8d0d000ee44948fc98c9b98a4fa4921476f08b0d
https://x.com/CryptoNotaz/status/1919588414845850039
https://www.coingecko.com/en/categories/stablecoins
https://x.com/spaftu/status/1920064532644290999
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