Wow, great deep dive into the USD1/WLFI situation! It feels like crypto and politics just keep finding new ways to intersect in utterly wild fashion, and this project really takes the cake on the 'high-profile and high-risk' front.
That rapid climb to over $2 billion market cap is eye-poppingly fast for a new stablecoin, especially when you think about competing with giants like USDT and USDC. The mention of BitGo custody and planned audits does lend a bit more credibility than your average fly-by-night crypto project, I'll give them that.
BUT (and it's a big, flashing red BUT), reading about the Trump family holding a massive 22.5 BILLION $WLFI tokens and potentially getting 75% of revenues? Yikes. That stat alone raises so many questions about potential conflicts of interest and whether this is more about enriching insiders using the Trump brand and hype machine, rather than building a truly decentralized or fair system. It's like having the casino owner also be the star player at the high-stakes table.
Given the history of some past Trump ventures, the skepticism feels warranted, even with the institutional nods. The thought of people potentially getting caught up in something with this level of insider control makes you extra cautious.
Totally agree with your conclusion – it could be an opportunity, but the red flags around opaqueness, insider control, and regulatory uncertainty are huge. DYOR and caution aren't just buzzwords here, they're essential life rafts in these speculative waters. Is it generational wealth or just... another lesson learned the hard way for many? Time will definitely tell, but this article lays out the critical questions everyone needs to be asking. Thanks for sharing!