Binance.US defended itself against accusations of political favoritism made by US lawmakers after listing the stablecoin USD1 (COIN:USD1USD), linked to World Liberty Financial, a company associated with US President Donald Trump. The crypto exchange called the allegations “unfounded” and reiterated that the decision was strictly commercial.
Democratic Senator Chris Murphy accused Binance of acting in retaliation for Trump’s pardon of Changpeng Zhao, the exchange’s founder, who was convicted of failings in combating money laundering. According to Murphy, the gesture was a “political gift” disguised as a corporate decision.
In response, Binance.US stated that USD1 and the WLFI token had already been approved months ago by its listing committee and that both are already available on more than 20 exchanges, including Coinbase, Robinhood, and Kraken. The company said it regretted the “politicization of routine decisions.”
The USD1 stablecoin, pegged to the dollar and valued at US$2.97 billion, currently ranks sixth among the world’s largest. Its growth may be related to interest in stablecoins linked to political figures, a phenomenon that blends digital finance and ideological disputes.
Trump’s involvement in World Liberty Financial has fueled debate about conflicts of interest. Critics argue that he uses his influence to promote domestic stablecoins and strengthen his political base in the crypto sector, exploiting the convergence between the digital economy and political power.
Representative Maxine Waters denounced Zhao’s pardon as the result of months of lobbying and the diversion of funds to World Liberty Financial. She described the measure as “a reward for cryptocurrency criminals who enriched Trump.” The White House has not commented on the matter.
Changpeng Zhao, released after serving four months in prison, publicly thanked Trump for the pardon and promised to help the US become “the cryptocurrency capital of the world.” Full story .
Meanwhile, the ecosystem of tokens linked to the Trump name continues to expand. Fight Fight Fight LLC, issuer of a Trump-branded digital currency, is in negotiations to buy the crowdfunding operation of Republic, a platform backed by Galaxy Digital and Binance Labs.
If completed, the acquisition would mark Fight Fight Fight LLC’s entry into the startup funding market, diversifying its revenue streams and creating a bridge between politically charged cryptocurrencies and the financing of technological innovation in the US.