WLFI Surprises Early Supporters with $47 USD1 Airdrop
World Liberty Financial (WLFI), a DeFi venture partially owned by a trust associated with U.S. President Donald Trump, has unexpectedly launched a USD1 airdrop campaign targeting its early backers.
The surprise airdrop
On June 4, blockchain data from Lookonchain revealed that World Liberty Financial had begun distributing $47 worth of its stablecoin, USD1, to wallets that participated in the WLFI token sale.
Looks like Trump’s World Liberty (@worldlibertyfi) is airdropping 47 $USD1 to every wallet that participated in the $WLFI sale.https://t.co/kbyhK9usHQ pic.twitter.com/YT8Y7IpfpU
— Lookonchain (@lookonchain) June 4, 2025
According to sources, the airdrop had been approved through a community vote weeks prior. It aims to reward early supporters, boost USD1 liquidity, and test the project’s token distribution system under real market conditions. Market analysts suggest the $47 amount was chosen to symbolically reference Donald Trump as the 47th President of the United States.
However, many of the recipient wallets transferred out their USD1 tokens within just one hour,raising suspicions of potential Sybil attacks or deliberate efforts to inflate transaction data.
USD1 & centralization concerns
Launched in April 2025, USD1 is WLFI’s flagship stablecoin. Pegged to the U.S. dollar, it is backed by reserves including U.S. Treasuries and cash equivalents.
Since its debut, USD1 has garnered attention across both centralized and decentralized platforms, rapidly surpassing a $2.1 billion market cap. This surge was largely driven by WLFI’s agreement with Binance, which designated USD1 as the primary currency for the world’s largest crypto exchange’s first public fundraising event. Binance later listed USD1 and promoted a range of derivative projects built around it, including the BUILDon (B) token.
Notably, USD1 trading is primarily driven by on-chain activity. Blockchain analytics firm Kaiko reported that USD1 trading pairs on PancakeSwap averaged $14 million in daily volume over the past month, far exceeding Binance’s $8 million. Furthermore, trading activity on PancakeSwap V3 exploded after the Binance listing—jumping from 28,000 transactions on May 21 to over 283,000 by May 26.
Despite the strong momentum, USD1 faces mounting criticism over centralization risks. Kaiko highlighted that just three wallets control the majority of USD1’s circulating supply, raising red flags about liquidity depth and governance transparency.
Analysts also noted that the stablecoin’s adoption has lagged behind competitors due to a lack of institutional backing and minimal promotional incentives. The project has not been immune to political controversy either.
U.S. Senator Elizabeth Warren recently voiced concerns over WLFI’s alleged involvement in a controversial deal with the United Arab Emirates. She warned that such associations could undermine legislative efforts and urged Congress to delay a crypto-related bill she fears may pave the way for further misconduct.
Pump.fun Reportedly Prepping $1B Token Sale
Popular Solana-based meme coin launchpad Pump.fun is reportedly preparing to launch its own token, although its name remains undisclosed. The platform is said to be planning a massive $1 billion token sale, valuing the token at a fully diluted valuation (FDV) of $4 billion.
Rumors about the token launch with a $4 billion valuation
According to Blockworks, the token may be offered to both public and private investors. However, no official timeline for the token launch has been confirmed. Another source claimed that Pump.fun’s token sale plans could roll out within the next two weeks, suggesting a launch sometime in June.
BREAKING: @pumpdotfun launching $PUMP token in next 2 weeks.
– Airdrop for users confirmed as well
It’s finally coming.
— nextfuckingthing (@nextfckingthing) June 3, 2025
Rumors of a Pump.fun token have actually been circulating since October last year. By early this year, the community had already begun to expect a public sale.
Pump.fun – the leading meme coin platform
Pump.fun launched in January 2024 with the aim of simplifying the token creation process on Solana. Since its inception, it has been at the center of the memecoin boom on the Solana network, becoming one of the most widely used protocols and generating enormous profits for its development team.
According to DefiLlama, the platform has collected more than $889 million in fees since launch. Its annualized revenue now exceeds $530 million, reflecting just how profitable the launchpad has become.
Although demand for memecoins plummeted during a market-wide crash earlier this year, Pump.fun’s team managed to adapt and maintain revenue streams.
In March, Pump.fun launched PumpSwap, its own decentralized exchange (DEX), effectively ending its reliance on Solana’s leading DEX, Raydium. Tokens launched via Pump.fun now debut directly on PumpSwap.
Since then, DefiLlama data shows PumpSwap has generated over $78 million in revenue, accumulated $437 million in fees, and processed more than $28 billion in total trading volume.
Meanwhile, data from Dune Analytics indicates that Pump.fun’s cumulative revenue has surpassed $700 million, with nearly 11 million tokens launched and a combined market capitalization of $4.5 billion.
With the explosive success of both Pump.fun and PumpSwap, it’s no surprise that the rumored fundraising target for the upcoming token sale is $1 billion, aiming for a $4 billion FDV.
However, many in the crypto community are questioning why Pump.fun needs to raise such a large amount. Some speculate the team may be planning to develop its own blockchain or enhance existing infrastructure with features like live streaming. Others, however, are more skeptical, worrying that this could be an exit opportunity for insiders and early investors.
Adding to the uncertainty is the absence of a published tokenomics model, making it difficult to assess the utility or long-term value of the upcoming token.
Either they need it for a larger infra project
Or it’s a pay day liquidity event for early investors / team
If people willing to pay then so be it, just hope there’s enough info for an invite med decision ahead of launch
— s4mmy (@S4mmyEth) June 4, 2025
South Korea Elects Pro-Crypto President – Spot Crypto ETFs on the Way?
Lee Jae-myung has officially been elected the new President of South Korea, promising to support the launch of spot Bitcoin ETFs in the country and develop a won-pegged stablecoin ecosystem.
On June 4, South Korean voters chose the crypto-friendly candidate Lee Jae-myung as their new head of state, bringing an end to the prolonged political turmoil that followed former President Yoon Suk-yeol’s declaration of martial law, which had plunged the nation into a deep governance crisis.
According to data from the National Election Commission of South Korea, this election saw a record voter turnout of 79.4%—the highest participation rate in a presidential election since 1997. Lee secured a strong win, receiving more than 49.4% of the total vote.
Throughout his campaign, Lee made his stance on the digital asset industry clear, outlining three major crypto-related pledges:
Allowing the launch of spot Bitcoin ETFs in South Korea: This proposal had previously been stalled due to restrictions imposed by the Financial Services Commission (FSC), but now stands a chance of being revived under the new administration.
Developing a Won-pegged stablecoin ecosystem: Lee argued for the creation of a domestic stablecoin network to prevent capital outflows and modernize South Korea’s financial infrastructure.
Permitting the National Pension Fund (NPF), worth $884 billion, to invest in Bitcoin and other digital assets: A move intended to solidify South Korea’s role as one of Asia’s leading digital financial hubs.
Following confirmation of Lee’s victory, South Korea’s crypto markets reacted positively. The price of Bitcoin on domestic exchanges such as Upbit and Bithumb surged to 149 million KRW (around $108,480), marking a nearly 2% premium over the global average price (~$106,600)—a phenomenon commonly known as the “kimchi premium.”
However, this isn’t the first time South Korea has elected a crypto-friendly leader. Former President Yoon Suk-yeol had also pledged to ease blockchain regulations, though most of his promises were delayed due to strong resistance from the FSC. Now, with a more stable political environment and broad public support, investors are hopeful that President Lee’s term will finally deliver on these long-awaited reforms.
