WLFI mints $25 million in fresh USD1 and burns $3 million, days after repayment claim
Crypto

WLFI mints $25 million in fresh USD1 and burns $3 million, days after repayment claim

CoinDesk·2h ago·Neutral

What Happened

World Liberty Financial minted 25 million USD1 stablecoins Monday and burned 3 million through its TokenGovernor contract, increasing circulation by $22 million. The activity follows WLFI's claim of repaying $25 million against roughly $75 million borrowed. The venture had deposited billions of WLFI tokens as collateral on DeFi protocol Dolomite, pushing its lending pool to near-100% utilization. WLFI's governance token fell 15% since initial reporting.

Key Entities

World Liberty FinancialUSD1 stablecoinDolomiteWLFI governance tokenCoinDeskBitGo CustodyCorey Caplan

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