Zach Witkoff, CEO of World Liberty Financial, has denied allegations that the USD1 stablecoin is being used to funnel funds to the Trump family, citing the token’s organic growth and real utility. Over $4 billion of USD1 is currently in circulation with daily trading volumes exceeding $1 billion. The firm received a conditional trust charter license from the OCC last week, allowing it to custody its own reserves. In 2026, USD1’s market supply grew by 20% to reach $4 billion, outperforming Tether’s USDT which slipped 2% to $183 billion. Democrats withheld support for the CLARITY Act due to concerns about conflicts of interest and insufficient ethics provisions.
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