7-5-2025 – World Liberty Financial’s latest initiative has garnered substantial attention, particularly due to its association with former US President Donald Trump. The firm has initiated a snapshot voting process regarding its proposed USD1 stablecoin airdrop to existing WLFI token holders.
The preliminary voting results have been remarkably decisive, with an overwhelming 99.97% of participants supporting the proposal, representing 2.6 billion votes in favour, whilst a mere 901,400 votes stood in opposition. The ballot remains open until 14 May.
The venture, which has already secured $550 million through two public token sales since its autumn 2023 launch, aims to distribute modest amounts of its USD1 stablecoin to current stakeholders. This exercise is primarily designed to evaluate the robustness of their blockchain distribution mechanisms on the Ethereum mainnet.
Political scrutiny has intensified around the project, particularly from Democratic quarters. House Democrats recently withdrew from a scheduled cryptocurrency regulation hearing, citing concerns over potential conflicts of interest. Senator Richard Blumenthal has particularly pressed the issue, dispatching correspondence to co-founder Zach Witkoff regarding possible constitutional implications, specifically citing the foreign emoluments clause.
The project’s governance structure has raised eyebrows, with Donald Trump designated as “chief crypto advocate” and his sons Eric, Donald Jr., and Barron listed as members. However, the organisation’s official documentation explicitly states that the Trump family maintains no operational or ownership roles.
In a notable development, Abu Dhabi’s MGX investment firm announced at Token2049 Dubai their intention to utilise USD1 in their $2 billion transaction with Binance exchange. The stablecoin, announced in March, purports to be fully backed by short-term American government securities, dollar deposits, and equivalent liquid assets.
World Liberty maintains discretionary authority over the test distribution, reserving rights to modify or terminate the airdrop programme and implement additional qualifying criteria as deemed necessary.