The team behind USD 1, the rapidly growing stableecoin launched by Trump Family-bound Defi Project World Liberty Financial, has fallen behind updating its monthly certificate reports, a critical transparency measure for investors and regulators, according to New.
From the beginning of October is the latest available report from July. This delay puts USD 1 out of step with rivals such as Circle’s USDC, which published spare data through August, and Tether, reporting quarterly, Greg Cipolaro, Global Research Manager in Nydig, said in a report.
“For a project with USD 1’s stature, up-to-date certificates are non-conveyable,” Cipolaro wrote.
Coindesk has reached Bitgo and World Liberty Financial for comment, but has not heard back at the time of writing.
Bitgo connection
While Bitgo Trust oversees custody of StableCecoin’s reserves, the issuer, Bitgo Technologies, has not explained the gap in reporting. The lap is remarkable considering USD 1’s rising profile and $ 2.7 billion in supply, he noted.
At the same time, USD 1’s token -distribution suggests that most of its traction is offshore. Newly claims that its analysis of top wallets shows that approx. 78% of the supply is in addresses associated with overseas exchanges.
Looking ahead, USD 1’s structure can conflict with the incoming genius law. The law, which is expected to come into force in early 2027, limits stableecoin issuance to subsidiaries of regulated banks or state-qualified units.
Nearly also said that Bitgo Technologies is currently not currently occurring in the regulated banks or category of state -tiled units, which means structural changes may be required, Cipolaro wrote.
