Trump Family Clings to World Liberty Financial as Bank Charter Approval Nears Amid Legal Battles

At the recent Consensus crypto conference in Miami, Donald Trump Jr. and World Liberty Financial co-founder Zach Witkoff publicly dismissed swirling rumors that the Trump family had abandoned their controversial crypto project. The speculation exploded after World Liberty quietly removed the names of President Trump and his sons from its website, sparking amplified misinformation fueled by bot accounts on social media.

Trump Jr. was blunt: “If the rumors were true, I wouldn’t be standing on this stage.” Witkoff confirmed that Donald Trump Jr. and Eric Trump remain co-founders, insisting the family is still deeply involved. The Q&A was moderated by David Wachsman, World Liberty’s own PR lead, raising questions about the independence of this rebuttal.

The company is currently locked in a legal battle with Sun Yuchen, founder of the Tron network and one of World Liberty’s biggest financial backers. After Sun sued World Liberty alleging serious management misconduct, the company hit back with a counterclaim accusing Sun of spreading false information and shorting their native token WLFI to manipulate its price. Witkoff insisted, “We wouldn’t have brought this lawsuit without evidence,” framing it as a last resort.

Perhaps most striking is World Liberty’s push for legitimacy through regulatory approval. The company submitted an application for a national trust bank charter to the Office of the Comptroller of the Currency (OCC) in January. Such a license would allow World Liberty to offer banking services for its USD stablecoin, USD1, effectively embedding its crypto ambitions within the traditional financial system.

Witkoff boasted that the company is “in the final stages of receiving conditional approval,” a move that has drawn sharp criticism from Democrats. Senator Elizabeth Warren has denounced the license bid as “possibly the most disgraceful presidential corruption scandal in U.S. history,” highlighting how the Trump family continues to exploit political influence for private enrichment under the guise of innovation.

This saga exposes a broader pattern of pay-to-play schemes and self-dealing that define the Trump family’s approach to business and politics. As World Liberty Financial edges closer to becoming a regulated bank, the stakes grow higher—not just for the crypto sector but for the integrity of American democracy itself. We will keep tracking this story as it unfolds.