World Liberty CEO Witkoff points to volume stats as evidence of organic demand

Zach Witkoff, the CEO of World Liberty Financial, has cited USD1’s trading activity as evidence that the stablecoin is generating market demand. 

Witkoff directed his comment as a response to critics who view USD1 as a tool to buy influence with the President of the United States. The debate has become more relevant even as federal regulators just issued out a bank charter to World Liberty Financial that will increase the influence of the President’s family in the company

Over a 24-hour period, USD1 has recorded around $1.42 billion in trading volume, with a market value of ~$4.03 billion and a turnover ratio greater than 35%. 

Witkoff sees such trading activity as organic “USD1 grew because institutions trust how it operates, and confidence at enterprise scale deserves the backing of federal supervision,” he said, and says the company is open to scrutiny from federal regulators. 

Why Trump’s WLFI is facing scrutiny 

The Office of the Comptroller of the Currency (OCC) issued World Liberty Trust Co. preliminary conditional approval on August 14 to operate a national trust bank. This would allow the company to issue and redeem USD1 directly, hold the reserves backing USD1, and offer custody without depending on an external partner. 

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