Wu said that he learned that WLFI, the Trump family encryption project, officially announced the plan to launch institutional stable currency USD 1, which will be 100% supported by short-term U.S. government treasury bond bonds, U.S. dollar deposits and other cash equivalents. USD1 will be minted on ETH and BSC blockchains, with plans to expand to other protocols in the future. The USD1 reserve will be managed by BitGo.