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Over 90% of the supply of the stablecoin USD1 launched by the Trump family encryption project is located in three Wallets.
Gate News bot message, the Trump family's encryption project World Liberty Financial (WLFI) today airdropped its stablecoin USD1 to the addresses that participated in the WLFI subscription.
USD1 was launched in March and is reportedly fully backed by short-term U.S. government bonds, dollar deposits, and other cash equivalents, but there are many concerns regarding its level of centralization. According to data from Dune Analytics, two wallets hold 84.4% of its total supply, while a third wallet holds another 9.5% of the token supply.
It's unclear whether these wallets are controlled by major investors like World Liberty Financial, Justin Sun, or custodians like BitGo.
Source: The Block