World Liberty Financial says USD1 stablecoin supply tops $4B as trading volume exceeds $1B

World Liberty Financial, a crypto venture associated with former U.S. President Donald Trump, is pushing back against outside scrutiny by pointing to growing activity in its U.S. dollar-pegged stablecoin, USD1. In an interview with CNBC, CEO Zach Witkoff said USD1's real-world usage is expanding. He cited recent market data showing USD1's circulating supply has climbed above $4 billion, while daily trading volume is running above $1 billion. Witkoff added that trading volume reached about $1.7 billion over the past 24 hours. Witkoff argued the figures suggest USD1 is being used in everyday transactions and make it less plausible that the token is primarily a vehicle for corporations or foreign entities to route funds to Trump and his family. He said the company operates independently of political influence and stated he has never discussed the business with Trump and does not plan to do so. He also said stablecoins are increasingly becoming the "cash layer" of the always-on internet economy, and that the dollar should have the same round-the-clock liquidity. World Liberty Financial launched in 2024 with involvement from Trump, his children and related parties, and it operates the USD1 stablecoin. The company recently received conditional approval to pursue a national trust bank charter, a move that would give it greater internal control over USD1 issuance and custody. Political concerns around Trump's ties to the project persist. Trump's annual financial disclosure indicates he earned about $515 million from selling World Liberty Financial tokens and roughly $65 million from selling equity in WLF Holdings in 2025. Separately, a group linked to the UAE was reported to have acquired a 49% stake in the project, prompting Democratic members of Congress to question whether the investment affected U.S. policy decisions on AI chip exports and arms sales. Additional reporting said the Trump family had rights to receive about $500 million from a transaction between World Liberty Financial and Alt5 Sigma, after which Alt5 Sigma's share price declined. Key figures: - USD1 circulating supply: over $4 billion - USD1 daily trading volume: over $1 billion - Past 24-hour peak trading volume: about $1.7 billion