Trump-linked stablecoin USD1 circulation surpasses $4B; CEO pushes back on 'self-dealing' claims

On August 25, Zach Witkoff, CEO of Trump-linked crypto project World Liberty Financial (WLF), said Tuesday that USD1 stablecoin circulation has exceeded $4 billion, with trading volume reaching $1.7 billion in the past 24 hours, arguing that the stablecoin's real-world usage rebuts claims it is used to funnel benefits to Trump and his family.

Witkoff said he has "never and will never" discuss company business with Trump, emphasizing that his focus is on delivering products and services to users. WLF was founded in 2024 by Trump, his relatives, and associates, and currently operates USD1, having received conditional approval for a national trust bank charter.

Meanwhile, WLF still faces conflict-of-interest scrutiny: an entity linked to the UAE reportedly acquired a 49% stake in WLF, and Trump family members earned hundreds of millions of dollars in 2025 from WLF token and related equity deals. Witkoff stressed that stablecoins are becoming the "native cash layer" of the internet, and USD1 will continue to expand its use cases going forward.

[BlockBeats]