{"id":51166,"date":"2025-10-05T14:16:46","date_gmt":"2025-10-05T14:16:46","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=51166"},"modified":"2025-10-05T14:16:46","modified_gmt":"2025-10-05T14:16:46","slug":"trump-linked-world-liberty-financials-stablecoin-needs-better-attestation-reports-nydig-says","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=51166","title":{"rendered":"Trump-Linked World Liberty Financial&#8217;s Stablecoin Needs Better Attestation Reports, NYDIG Says"},"content":{"rendered":"<div>\n<p>The team behind USD1, the fast-growing stablecoin launched by Trump family-linked DeFi project World Liberty Financial, has fallen behind on updating its monthly attestation reports, a critical transparency measure for investors and regulators, according to NYDIG.<\/p>\n<p>As of early October, the most recent report <a href=\"https:\/\/worldlibertyfinancial.com\/usd1\">available<\/a> is from <a href=\"https:\/\/landing.bitgo.com\/rs\/552-OGK-141\/images\/USD1_Reserve_Attestation_Report_July_2025.pdf\">July<\/a>. That delay puts USD1 out of step with rivals like Circle\u2019s USDC, which published reserve data through August, and Tether, which reports quarterly, Greg Cipolaro, Global Head of Research at NYDIG, said in a report.<\/p>\n<p>\u201cFor a project of USD1\u2019s stature, up-to-date attestations are non-negotiable,\u201d Cipolaro wrote.<\/p>\n<p>CoinDesk has reached out to BitGo and World Liberty Financial for comment but hasn\u2019t heard back by the time of writing.<\/p>\n<h2>The BitGo connection<\/h2>\n<p>While BitGo Trust oversees custody of the stablecoin\u2019s reserves, the issuer, BitGo Technologies, hasn\u2019t explained the gap in reporting. The lapse is notable given USD1\u2019s rising profile and $2.7 billion in supply, he noted.<\/p>\n<p>At the same time, USD1\u2019s token distribution suggests most of its traction is offshore. NYDIG claims that its analysis of top wallets shows that roughly 78% of the supply sits in addresses linked to overseas exchanges.<\/p>\n<p>Looking ahead, USD1\u2019s structure may conflict with the incoming GENIUS Act. The law, expected to take effect by early 2027, limits stablecoin issuance to subsidiaries of regulated banks or state-qualified entities.<\/p>\n<p>NYDIG also said that BitGo Technologies doesn\u2019t currently appear fit either in the regulated banks or state-qualified entities category, meaning structural changes may be required, Cipolaro wrote.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The team behind USD1, the fast-growing stablecoin launched by Trump family-linked DeFi project World Liberty Financial, has fallen behind on updating its monthly attestation reports, a critical transparency measure for investors and regulators, according to NYDIG. As of early October, the most recent report available is from July. That delay puts USD1 out of step [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-51166","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/51166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=51166"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/51166\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}