World Liberty Financial CEO Zach Witkoff says success of stablecoin silences charge of Trump cronyism

The CEO of Trump-linked World Liberty Financial said the company offers real utility and operates independently of political influence, refuting allegations of potential conflicts of interest. The crypto venture, launched in 2024 by President Donald Trump, his sons and associates, operates the USD1 stablecoin and recently received conditional approval for a national trust-bank charter, allowing the company to bring issuance and custody of USD1 in-house. Trump's annual financial disclosure showed income of about $515 million from the sale of tokens released by World Liberty Financial and $65 million from sales of equity in WLF's holding company in 2025.CEO Zach Witkoff, son of the Stephen Witkoff, the administration's special envoy to the Middle East, said concerns about whether companies or countries could use USD1 to funnel money to Trump and his family are misplaced, pointing to USD1's utility, liquidity and distribution."There's over $4 billion of USD1 in circulation [and] over a billion dollars trades every single day in volume in USD1," he said, speaking to CNBC's "Squawk Box" Tuesday morning. "Before I came on set, I checked the volume metrics – it was $1.7 billion in the tra...