David Edwards
Former US President Donald Trump’s cryptocurrency company, World Liberty Financial, is getting ready to release the first audit of its stablecoin, USD1, and take steps to allow transfers of its governance token, WLFI. Co-founder Zak Folkman revealed that the company had paid USD1 to an accounting firm for an attestation report while speaking at the Permissionless conference in Brooklyn. Within a few days, the report should be posted on the project’s website.
Folkman also suggested that WLFI, which is currently nontransferable but confers governance rights, might soon undergo a transformation. He implied that the community would welcome any developments in the upcoming weeks, but he did not elaborate. World Liberty Financial subsequently verified this in a post on X, acknowledging community requests and stating that the company is currently working to enable token transfers.
World Liberty also intends to launch a new mobile application that would make it easier for retail users to access cryptocurrency. The purpose of this calculated action is to increase the platform’s appeal in the run-up to the US election.
Trump received over $57.4 million from World Liberty Financial, according to his 2025 financial declaration, and he currently owns over 15 billion WLFI tokens, mostly acquired through token sales. The network has raised almost $550 million during two public token sales since its launch in September 2024. Among the notable backers are Oddiyana Ventures, which joined in early 2025, Web3Port, which contributed $10 million, and Justin Sun, who contributed $30 million.
Since its inception in March 2025, World Liberty’s stablecoin, USD1, has amassed a market valuation of $2.2 billion. With reserves kept by custodians like BitGo and publicly administered on Ethereum, BNB Chain, and TRON, it is backed by US dollars, cash equivalents, and Treasuries. The company intends to release reserve reports every month.
The initiative has nonetheless generated criticism in spite of these advancements. Given the Trump administration’s quest for deregulation in the cryptocurrency industry, critics have expressed worries about possible conflicts of interest and moral dilemmas. Further investigation came after MGX, a UAE-backed company, invested $2 billion in Binance using USD1, which has raised concerns about political involvement and foreign influence.
World Liberty Financial sets itself up for future acceptance as it works to improve usefulness and transparency through audit and token transferability. Nonetheless, its course is still influenced by political, ethical, and regulatory factors that may influence its success as well as scrutiny in the months to come.
