Trump Jr. dismisses World Liberty Financial conflict concerns
Donald Trump Jr. and Zach Witkoff have brushed aside worries about potential conflicts of interest in the cryptocurrency venture World Liberty Financial. The project, backed by Trump family associates, aims to promote stablecoins and decentralized finance. Officials involved maintain that all activities comply with ethical standards.
On October 2, 2025, Donald Trump Jr. addressed growing scrutiny over World Liberty Financial (WLFI), a blockchain-based platform launched earlier this year. In a statement to CNBC, Trump Jr. said, 'There's absolutely no conflict of interest here; we're building something innovative for everyday Americans.' The venture, which raised over $1 million in initial funding, focuses on USD-pegged stablecoins and has drawn attention due to its ties to the Trump orbit.
Zach Witkoff, son of real estate developer Steve Witkoff—a known Trump ally—echoed these sentiments during a virtual panel discussion. 'Concerns are overblown; our operations are transparent and regulated,' Witkoff stated. Steve Witkoff, who serves as an advisor to WLFI, has not commented directly but is listed in company filings as a key stakeholder. The project emerged in mid-2025 amid a surge in crypto interest following regulatory shifts under the current administration.
Background on WLFI reveals it as part of a broader push into decentralized finance (DeFi) by Trump-associated figures. Launched in July 2025, the platform promises low-fee transactions and aims to integrate with traditional banking. Critics, including ethics watchdogs, have raised flags about overlapping business and political interests, particularly given Donald Trump Jr.'s role in promoting the project at events. However, WLFI's team insists all disclosures are up to date with the Securities and Exchange Commission (SEC).
No formal investigations have been announced as of the dismissal statements. The episode highlights ongoing tensions in the intersection of politics and cryptocurrency, where projects like WLFI seek to capitalize on deregulatory trends. Supporters argue it democratizes finance, while detractors call for stricter oversight to prevent undue influence.