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World Liberty Financial CEO Zach Witkoff pushed back in a CNBC interview against allegations of conflicts of interest and preferential treatment surrounding the project. Witkoff said concerns that companies or governments were using the USD1 stablecoin to channel money to President Donald Trump’s family were not true.
Witkoff said USD1 has more than $4 billion in circulation and records more than $1 billion in daily trading volume, which Witkoff described as evidence of use by real transactors. Witkoff also said Zach Witkoff has never discussed business matters with President Trump and will not do so in the future.
Democratic lawmakers, meanwhile, continue to raise the possibility of foreign policy-linked conflicts of interest, citing a UAE-linked group’s acquisition of a 49% stake in World Liberty Financial and income tied to the project for the Trump family.