WLFI CEO Zach Witkoff Swears People Are Using USD1

World Liberty Financial (WLFI) CEO Zach Witkoff, son of President Trump's chief Middle East negotiator, defended the company's stablecoin USD1 during an interview on CNBC. WLFI, a Trump family-tied crypto firm and soon-to-be bank, boasts that USD1 is used by people around the world every day, claiming this as evidence of its legitimacy.

Witkoff, who pointed to the stablecoin's $4 billion circulating supply and recent approval of a preliminary conditional banking charter, insisted that concerns about the Trump family's business interests were unfounded, citing the company's metrics and customers' usage. However, the stability of USD1 remains questionable, as its price has dropped 85% since its launch in September 2025 and it is largely traded on offshore exchanges, with a significant portion of volume accounted for by Binance, a platform owned by Trump's pardoned friend Changpeng "CZ" Zhao.