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USD1 Stablecoin Continues Strong Growth Despite Trump Scrutiny

Guavy AI Editorial Team
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Zach Witkoff, CEO of World Liberty Financial (WLFI), has dismissed allegations that his firm's USD1 stablecoin is being used to funnel funds to the Trump family.

In an interview with CNBC on August 25th, Witkoff downplayed claims of 'Trump cronyism' and political interference, citing USD1's organic traction and utility.

He pointed out that over $4 billion of USD1 is in circulation, with over a billion dollars trading every single day in volume. This speaks to the use case of USD1, Witkoff said, demonstrating that customers are actively using it.

WLFI is a Trump family-backed DeFi project, and critics have been skeptical due to perceived conflicts of interest and allegations of corruption in the sector.

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