WLFI Pushes Back on Nepotism Claims, Citing USD1 Liquidity and Real-World Adoption
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World Liberty Financial's CEO rejected nepotism and illicit-funding allegations, emphasizing USD1's reported $4B+ circulation and $1B+ daily volumes as evidence of real-world utility. The firm's conditional approval for a national trust bank charter could strengthen internalized issuance and custody, potentially improving operational resilience and market confidence. Near-term impact is likely limited unless regulatory or political scrutiny escalates.
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World Liberty Financial (WLFI), a crypto firm tied to U.S. President Donald Trump, has dismissed allegations that its USD1 stablecoin could be used by companies or sovereign actors to channel money to Trump and his family.
Speaking on CNBC's "Squawk Box" on Tuesday (Aug. 25), CEO Zach Witkoff said USD1 demonstrates tangible utility, deep liquidity and broad distribution. He said more than $4 billion of USD1 is currently in circulation, with daily trading volume above $1 billion. Witkoff added that data he reviewed ahead of the program showed a 24-hour trading volume of $1.7 billion, which he argued reflects practical use and real-world customer activity.
WLFI was founded in 2024 by Trump, his son and partners. The company's core business centers on the USD1 stablecoin. WLFI has recently received conditional approval for a national trust bank charter, a move that would allow it to bring USD1 issuance and custody in-house.
(Source: Foresight News)
