On September 1, 2025, a token named WLFI emerged on global trading platforms, backed by a valuation of up to $40 billion, quickly attracting global attention. However, what is even more shocking is that behind this seemingly pure cryptocurrency frenzy, a Chinese capital network spanning the Pacific is quietly emerging, supporting the digital empire of a former U.S. presidential family. From a Chinese billionaire who invested $75 million, to the founder of a trading platform seeking a presidential pardon, to stablecoin experts deeply engaged in the Asian market, this gathering of modern "retainers" not only reveals the deep intertwining of American political family wealth and Eastern capital but also suggests that a new geopolitical game is unfolding in the crypto world.
I. Binance: The Central Node and Power Game of the Chinese Crypto Network
To understand the influence of the Chinese community in the WLFI project, one must start with Binance, the world's largest cryptocurrency trading platform. Founded by Chinese entrepreneurs, this trading platform has now become the nerve center of the entire Chinese crypto network. Binance accounts for about 30% of global cryptocurrency trading volume, with a daily trading volume exceeding $20 billion, and its penetration rate in the Asian market exceeds 60%. This near-monopolistic control makes it a key hub for capital flow and information transmission.
Binance founder Changpeng Zhao (CZ) was sentenced to four months in prison for violating anti-money laundering regulations. However, according to insiders, CZ is seeking a pardon from Trump through various channels. This rumor is not unfounded, as Trump had previously shown leniency towards several financial criminals during his first term. For CZ, even though a four-month sentence is not long, for a business empire controlling hundreds of billions of dollars in assets, the founder's freedom is crucial to the stability and future of the entire system.
On March 13, 2025, The Wall Street Journal reported that the Trump family was negotiating to acquire a significant stake in Binance.US. Although CZ strongly denied this, Bloomberg later published an article citing anonymous sources stating that the two parties were about to launch a stablecoin together—what we now see as USD1. Despite both parties denying it, the interaction between USD1 and Binance still reflects a close relationship.
At the end of April, WLFI and CZ's official social media accounts released photos of the three co-founders of WLFI meeting with CZ in Abu Dhabi to discuss how to expand global adoption and set new standards. In early May, Eric Trump, Trump's second son, revealed during the Token2049 event that the Abu Dhabi investment company MGX had invested $2 billion in Binance, with the payment made in USD1 stablecoin. Shockingly, Binance retained $1.9 billion of this amount in its own address, becoming the largest holder of USD1, accounting for 92.8% of the total circulation. This operation directly inflated the market value of USD1 from $130 million to $2.1 billion; if this amount is excluded, the actual circulation of USD1 is only about $100 million. Such inflationary operations could constitute market manipulation in traditional financial markets, but in the relatively lax regulatory environment of cryptocurrencies, it has become a common tactic and a key support for WLFI's $40 billion valuation.
In the same month, WLFI officially supported the Meme coin $B (BUILDon) for the construction of the Binance BNB Chain ecosystem, purchasing about $25,000 worth of $B. Once the news broke, the token price skyrocketed, and its market value briefly exceeded $300 million. WLFI's public endorsement of $B was not just a small investment but also a strategy for Binance to use Meme coins as amplifiers of community sentiment and traffic entry points. The attention generated by the hype around $B quickly fed back into the narrative of USD1, packaging it into the larger story of "ecosystem expansion" and "community co-construction." Within this system, Binance is using familiar methods to tie the promotion of stablecoins to the frenzy of the Meme market, first attracting attention with Meme coins and then embedding USD1 in the role of "base currency," achieving a promotional volume for USD1 that far exceeds its actual size.
II. The Gathering of Chinese Retainers: A Precise Network of Technology and Capital
Beyond Binance, a number of technical projects collaborating with WLFI have made the connections within the entire ecosystem even tighter. These seemingly independent companies are actually weaving together a sophisticated Chinese capital network.
Ryan Fang: The Most Trusted Project Operator and Infrastructure Builder of Binance In the Chinese technology network of WLFI, Ryan Fang occupies an important position as the only Chinese member of the current team. As the co-founder and COO of Ankr, Ryan has previously participated in the creation of PrimeBlock and Tomo, and has accumulated traditional financial experience at Morgan Stanley. Ankr, as a leading global blockchain infrastructure service provider, offers RPC nodes and cross-chain tools for multiple projects, including Binance's BSC chain. The circulation of USD1 relies on these nodes to complete transfer confirmations and maintain network stability, and through Ankr's cross-chain services, USD1 can be freely transferred across multiple chains, including Ethereum, BNB Chain, and Polygon.
Ankr's Liquid Staking product also allows USD1 to be staked and generate returns, transforming it from a single payment tool into an asset with financial properties. Ankr has provided services for over 8,000 blockchain projects, and these existing customer relationships form a natural channel for USD1 to expand outward. Ryan Fang, through infrastructure, embeds a newly issued stablecoin into the daily operations of the global crypto market, playing the role of a modern "retainer."
Rich Teo: The "Foxconn Factory" of Stablecoins and Compliance Expert The WLFI project also features Richmond Teo, co-founder of Paxos. Paxos was once Binance's most important stablecoin partner, with its issued BUSD serving as Binance's main stablecoin for a long time, reaching a market value of over $20 billion. Although U.S. regulators required Paxos to stop issuing BUSD in 2023, causing it to fall silent for a time, with the advancement of U.S. stablecoin legislation, Paxos has once again become one of the teams benefiting from regulatory dividends, with stablecoins like PayPal's PYUSD and DBS Bank's USDG being issued by Paxos.
Teo was responsible for Paxos's business in the Asian market and is very familiar with the compliance paths for stablecoins under different regulatory systems. The experience of BUSD being halted has also forced him to accumulate valuable experience in dealing with regulatory and market contractions. For WLFI, this experience is particularly important, as the issuance and circulation of USD1 also face regulatory uncertainties. Teo's presence not only signifies a personal return but also indicates that Paxos is attempting to find an opportunity to re-enter the stablecoin track through WLFI. This relationship makes it easier for USD1 to be accepted in the market and adds an extra layer of assurance for Binance's trust in WLFI. For the entire Chinese network, Teo's addition means that a critical piece has been filled in terms of compliance and regulation.
Conclusion:
The rise of the Trump cryptocurrency project WLFI is not just a celebration in the cryptocurrency market but also a microcosm of the deep intertwining of American political family wealth and the Chinese capital network. As a core hub, Binance combines its massive trading volume and market influence to link the USD1 stablecoin with the hype of Meme coins, constructing a seemingly prosperous digital empire. Meanwhile, Chinese elites like Ryan Fang and Rich Teo provide solid support for this empire through technological infrastructure and compliance experience.
This cross-border collaboration reveals the increasingly complex geopolitical and economic games in the cryptocurrency field. When the power of Eastern capital can "propel the Trump family's wealth to new heights, yet also cause it to plummet overnight when it crosses boundaries," we witness a new era interwoven with power, wealth, and technology. The future direction of WLFI will not only impact the landscape of the cryptocurrency market but may also become an important window for observing the reshaping of global political and economic power.
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