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WLFI, after repaying a $25 million loan, minted an additional equivalent USD 1 today; the circulating supply saw a net increase of 22 million tokens.
ME News Report, April 13 (UTC+8), according to Arkham Data, World Liberty Financial (WLFI) today minted 25 million USD1 tokens through BitGo Custody, and burned 3 million tokens via the TokenGovernor contract, resulting in a net increase of 22 million USD1 tokens in circulation. The amount minted this time is exactly the same as the loan amount WLFI claimed to have repaid a few days ago. Previously, WLFI used a large amount of governance tokens as collateral to borrow stablecoins on the DeFi lending protocol Dolomite, causing the USD1 lending pool on that platform to approach 100% utilization, preventing other depositors from withdrawing normally. WLFI did not disclose the reasons for the burn or the specific use of the newly minted tokens. (Source: Foresight News)