Trump-Backed Crypto Venture Launches USD1 Stablecoin on KuCoin — A Platform Banned in the U.S.

The move marks a bold—and controversial—step for World Liberty Financial, the DeFi platform Trump supports and reportedly controls 60% of through an LLC managed with his three sons. The USD1 stablecoin debuted on May 21, just months after KuCoin admitted to operating an unlicensed money-transmitting business in the United States.

“President Trump is compliant with all conflict-of-interest rules,” said White House Press Secretary Karoline Leavitt, responding to questions raised by Forbes. She dismissed the coverage as part of “years of lies and false accusations.”

KuCoin, headquartered in Seychelles, began discussions with World Liberty Financial after observing “strong demand in certain regions,” according to a company spokesperson. Despite its U.S. ban, the exchange remains one of the most active global platforms for altcoins and emerging projects.

The partnership has already drawn scrutiny, given that KuCoin’s cofounders agreed to step down and face deferred prosecution under U.S. Department of Justice terms. The exchange is restricted from servicing U.S. users for at least two years.

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Critics argue that the decision to list a politically backed stablecoin on a sanctioned exchange raises significant ethical and regulatory concerns, while supporters view it as a strategic workaround to introduce USD1 to high-growth markets abroad.

With Trump’s re-election campaign underway and crypto policy at the forefront, this venture adds a new layer of complexity to his increasing entanglement with digital assets and global finance.

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