Trump’s USD1 stablecoin off to slow start, CNBC reports

The USD1 stablecoin launched by President Donald Trump’s World Liberty Financial is off to a “sluggish” start, with muted inflows and little organic demand, according to Kaiko analysts, CNBC’s MacKenzie Sigalos reports. The firm says the token has failed to break into mainstream platforms like Binance, despite a $2B transaction tied to Abu Dhabi’s MGX fund. “Trump is trying to launch this stablecoin in a massive, growing market that’s a quarter of a billion dollars in size already, and his token’s only really been successful so far on a niche market of a niche market,” the firm said. “It hasn’t managed to make the leap from decentralized staging platforms like PancakeSwap into centralized venues that serve the mass market.” Donald Trump Jr. told CNBC’s “Squawk Box” Tuesday that USD1 is a strategic asset, not just for the family, but for U.S. monetary policy. Publicly traded companies in the space include Bit Digital (BTBT), Bitfarms (BITF), Coinbase (COIN), Core Scientific (CORZ), Greenidge Generation (GREE), Mara Holdings (MARA), Riot Platforms (RIOT), Strategy (MSTR), Stronghold Digital Mining (SDIG) and TeraWulf (WULF)