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The US President’s son, Donald Trump Jr., called conflict-of-interest claims around his family’s crypto ventures “complete nonsense’’ and said his father doesn’t track such investments.
“I don’t think anyone actually believes that my father…would be looking at ledgers on the blockchain to see who bought what, and that carrying any kind of favor,” he told CNBC at Token2049 in Singapore.
The Trump family’s involvement in the crypto industry has ballooned since President Trump took office in January calling himself ”crypto President.”
Its ventures include DeFi project World Liberty Financial and its flagship USD1 stablecoin, American Bitcoin mining and treasury operations, TRUMP and MELANIA meme coins, and planned crypto ETFs.
The President’s Mission Is “Much Bigger” Than World Liberty Financial
Trump Jr., who is a co-founder of World Liberty Financial, was accompanied by the DeFi firm’s CEO Zach Wilkoff at Token2049, whose dad Steve Wilkoff is the US Special Envoy to the Middle East under the Trump Administration.
Wilkoff echoed Trump Jr.’s sentiment, and said that their mission with World Liberty Financial is big, but their dads’ mission under the Trump Admin is “much bigger.”
”They’re not focused on stablecoins, nor are they involved in a stablecoin business,” Wilkoff said.
Their remarks follow the launch of World Liberty Financial’s own stablecoin, USD1, in March this year. Since then, the token has climbed the rankings to become the fifth-biggest stablecoin by market cap.
Top five stablecoins by market cap (Source: CoinMarketCap)
Data from CoinMarketCap shows that the token has a capitalization of over $2.68 billion, while the market’s leaders USDT and USDC are valued at over $175.81 billion and $74.12 billion, respectively.
Just a few months after USD1 was launched, President Trump signed the GENIUS stablecoin Act into law, which establishes a regulatory framework for stablecoin firms looking to issue their tokens in the US.
In addition to the USD1 launch, World Liberty Financial also launched its governance token WLFI in September. Several leading crypto exchanges such as Binance, KuCoin, OKX and others all added the crypto to their platforms when it debuted.
In the last 24 hours, WLFI has pumped over 4% to trade at $0.271 as of 4:40 a.m. EST, but remains more than 14% down over the past month.
World Liberty Financial “Not A Political Organization”
Critics have questioned World Liberty Financial’s political connections as the firm pursues offshore deals and expands its offerings, especially given President Trump’s ability to influence digital asset policy in the US.
Both Trump Jr. and Wilkoff took the opportunity to downplay their political connections during a keynote speech at Token2049. Trump emphasized that the company aims to improve and democratize finance, adding that World Liberty Financial is “100% not a political organization.”
The company’s website shows that a firm linked to President Trump, DT Marks DEFI LLC, along with several members of the Trump family, currently receive a major share of the revenue generated by the platform and also hold WLFI tokens.
That website, however, also states that President Trump, members of his family or any members of DT Marks DEFI LLC are not an “officer, director, founder, or employee of, or manager, owner or operator of World Liberty Financial or its affiliates.”
Disclaimer separating Trump and his family from the DeFi project (Source: World Liberty Financial)
US President Criticized For Crypto Embrace And Multiple Ventures
President Trump was once a skeptic of digital assets. Since entering the White House for a second term at the start of the year, the President has pushed forward with several pro-crypto policies. He has also appointed long-time crypto advocates in various key positions.
Under the Trump administration, the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have started collaborating to ease crypto regulation as well as establish a clear regulatory framework for digital assets.
Given the involvement in the crypto industry, Democratic lawmakers such as Elizabeth Warren and Representative Maxine Waters have called for investigations into the President and his family for possible conflicts of interest.
America First? Nope.
Donald Trump is selling out our national security through shady foreign crypto deals that enrich his family’s crypto firm.
Any crypto bill must ban Trump, his family & senior officials from profiting.
Otherwise, Congress is turbocharging corruption. pic.twitter.com/HhimppHe3H
— Elizabeth Warren (@SenWarren) September 19, 2025
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