What World Liberty Financial does
World Liberty started as a DeFi project and is now mainly a stablecoin business. Its WLFI token gives holders governance votes and became tradable in September 2025. Its USD1 stablecoin, launched in March 2025, is backed by money market funds and cash and is issued and custodied by BitGo Bank & Trust. The family makes money from WLFI sales and from USD1, whose reserves earn interest.
USD1 and the trust bank
USD1 supply peaked at about $5.4 billion in February 2026 and stood near $3.6 billion on November 6, 2026, per DefiLlama data cited by Bitcoin.com, with most of it on Solana, Ethereum and BNB Chain. On August 14, 2026, the OCC granted preliminary conditional approval to World Liberty Trust Company, N.A. It is meant to issue and redeem USD1 and manage its reserves in place of BitGo, but cannot operate until it meets pre-opening requirements, and the OCC says it will not issue, hold or deal in WLFI.
WLFI token buyback
WLFI had lost more than 60% of its value in 2026, and fell again after the U.S. midterm elections. On November 5, 2026, World Liberty announced an ongoing buyback program funded partly by fees earned on USD1 reserves. It gave no size, schedule or burn commitment.
Disputes and scrutiny
Tron founder Justin Sun, an early investor who bought $45 million of WLFI, sued World Liberty in April 2026 in federal court in California, alleging it illegally froze about 4 billion of his tokens; World Liberty disputes his account. Democratic lawmakers have also questioned conflicts of interest, and reports say a House Oversight probe could begin in 2027. For how U.S. rules treat issuers like USD1, see the GENIUS Act.
