World Liberty Financial CEO Zach Witkoff said the USD1 stablecoin is a small part of the Trump family business empire during a Tuesday interview.
The comments come as the crypto venture faces accusations of cronyism and concerns that the digital asset could be used to funnel money to the Trump family.
Speaking on CNBC’s "Squawk Box" on Tuesday, Witkoff said that worries regarding the stablecoin's use for financial impropriety are misplaced. He said the project is a minor component of the family's broader commercial interests.
The USD1 stablecoin is pegged to one U.S. dollar [1]. While the company has announced plans to launch the token, reports on its current status vary; some sources indicate a lending platform has already rolled out, while others state the company is still in the planning phase.
World Liberty Financial previously sought to establish the token as an institutional-ready asset. The Bitget exchange listed the USD1 token for spot trading on May 26, 2025 [2].
Witkoff used the interview to counter narratives that the venture represents a conflict of interest. He said the success of the stablecoin serves as a refutation of charges that the business is based on political favoritism.
“USD1 is a very small piece of the Trump family’s business empire”
The intersection of high-profile political families and cryptocurrency often triggers regulatory scrutiny regarding transparency and anti-money laundering compliance. By framing USD1 as a marginal asset, World Liberty Financial is attempting to distance the token's operational success from the political influence of its backers to avoid accusations of state-sponsored or political cronyism.
