4 weeks ago
15
World Liberty Financial CEO Zach Witkoff has pushed back against allegations that USD1 could be used to financially benefit the president or his family.
In a recent interview with CNBC, Witkoff argued that the stablecoin’s growing usage demonstrates real demand. He said USD1 has more than $4 billion in circulation and generated $1.7 billion in trading volume over the prior 24 hours.
The company, backed by Eric Trump and Donald Trump Jr., recently secured conditional approval for a national trust-bank charter that would allow it to handle USD1 issuance and custody internally. Trump reported roughly $515 million of income from World Liberty token sales and $65 million from equity in its holding company in 2025.
The venture has faced additional scrutiny after a UAE-linked group reportedly acquired a 49% stake, raising questions among congressional Democrats about potential links between the investment and administration policies.
Witkoff said he has never discussed business with Trump and would never do so, maintaining that his focus is on making USD1 a useful payment asset as stablecoins become a core part of internet commerce.
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