The Trump family’s decentralized financial project, World Liberty Financial, minted several hours of stables worth over $200 million after Federal Reserve Governor Christopher Waller gave a speech celebrating the stubcoin.
World Liberty appeared on X on Thursday, minted the platform Stablecoin, USD1, for the Treasury Department, to a record high of $2.4 billion with the first significant increase in tokens since late April.
Since launching in early April, Trump’s family-supported stubcoin has become the sixth largest in the world by market capitalization, with tether’s $167 billion Tether (USDT) gaining 60% market share and USDC (USDC) of USD67.4 billion with a 24% share.
Sec Governor, Sec Chair Bullish on Stablecoins
USD1 Mint comes hours after Fed Waller gave a Procrypt speech that specifically promotes Stablecoins.
“We believe that Stubcoin has the potential to maintain and expand the role of the dollar internationally,” Waller said at a blockchain conference in Wyoming on Wednesday.
“Stablecoins also have the potential to improve retail and cross-border payments,” he added.
Waller said the genius law of stable coin adjustment, signed into law last month, is “an important step for a stable market and could help stubcoins reach their full potential.”
It repeated a comment from Securities and Exchange Commission Chairman Paul Atkins. Paul Atkins said on August 19 that the bill was “an important step for the US Congress and government.”
WLFI Treasury holds it at a record high
According to Nansen, the recent USD1 mint has raised the WLFI Treasury holdings to a record $548 million.
Related: Liberty Crypto tokens in the Trump World are set to be traded
Stablecoin is currently Crypto, the world’s largest crypto with $212 million and 39% of its total portfolio. Aave Ethereum USDT (AethUSDT) is $85 million with the project’s next largest investment, with an equal share of ether (ETH).
Earlier this month, it was reported that World Liberty Financial was exploring the creation of a publicly-published company to hold WLFI tokens with a funding goal of around $1.5 billion.
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