USD1 Stablecoin Utilization Reaches 93% Amid UFC Bonus Payouts
- The USD1 pool’s utilization hit 93%, restricting retail depositors from withdrawing funds until loans are repaid.
- World Liberty Financial (WLFI) repaid $25 million of its position and subsequently minted an additional $25 million in USD1.
- USD1’s circulating supply increased from $3.3 billion to approximately $4.6 billion since January.
- WLFI is currently involved in litigation with Justin Sun, who claims his governance tokens were improperly frozen.
- The company has applied for a banking license from the Office of the Comptroller of the Currency.
The use of USD1 stablecoin for fighter bonuses at a recent UFC event highlights its growing commercial presence, linking it to notable entities like the White House and UFC.
With a circulating supply increase to around $4.6 billion, USD1’s role in high-profile payouts underscores its expanding influence in the cryptocurrency landscape.
