WLFI Responds to Rumors of 'Trump Family Exit': Bank License Approval Has Entered Final Stage

marsbitPublished on 2026-05-08Last updated on 2026-05-08

Abstract

Amidst rumors that the Trump family had quietly exited World Liberty Financial (WLFI), Donald Trump Jr. and co-founder Zach Witkoff addressed the claims at the Miami Consensus conference. Trump Jr. dismissed the rumors as originating from the removal of the Trump family's names from the company's website and subsequent amplification by social media bots. Both affirmed that Don Jr. and Eric Trump remain co-founders. The conversation also covered WLFI's ongoing legal battle with Tron founder Justin Sun. After Sun sued WLFI last month alleging managerial misconduct, WLFI filed a countersuit, accusing Sun of spreading false information and shorting the WLFI token. Witkoff stated the lawsuit was a "last resort" and filed with evidence. Significantly, Witkoff revealed that WLFI's application for a national trust bank charter from the OCC is in the "final stages" of securing conditional approval. This charter is crucial for the company's USD1 stablecoin operations but has drawn criticism from Democratic lawmakers like Senator Elizabeth Warren, who has labeled the application potential evidence of corruption.

Author: Sander Lutz

Compiled by: TechFlow News

TechFlow Introduction: Amid swirling rumors of a "Trump family exit" from World Liberty Financial, Donald Trump Jr. and co-founder Zach Witkoff publicly addressed the speculation at the Miami Consensus conference. Beyond clarifying the rumors, Witkoff revealed the company is in the "final stages of obtaining conditional approval" for its national trust bank license application. Simultaneously, the company has filed a counterclaim against Tron founder Justin Sun. A single clarification has brought to light three separate threads: the license, litigation, and political controversy.

Donald Trump Jr. responded on Thursday at the Miami Consensus cryptocurrency conference to a recent claim circulating on social media: that he and family members had quietly exited World Liberty Financial.

"I think I saw something on Twitter about Don and Eric having walked away from the project," said Zach Witkoff, the other co-founder of World Liberty, on stage.

"That's news to me," Trump Jr. chimed in. He attributed the rumor to World Liberty's earlier removal of the list of co-founders, including President Trump and his three sons, from the company's official website. Subsequently, some individuals capitalized on this change, with bot accounts amplifying the speculation.

"If you get enough people just kind of running with whatever they're fed, plus you've got bots pushing it... If it were true, I wouldn't be on this stage," Trump Jr. said.

"To my knowledge, Don and Eric are still co-founders of this project," Witkoff added.

It is worth noting that the moderator for this Q&A, David Wachsman, is himself the head of public relations for World Liberty and not a neutral third party.

Counterclaim Against Justin Sun: 'We Would Not Sue Without Evidence'

The conversation then shifted to the lawsuit World Liberty filed this week against cryptocurrency entrepreneur Justin Sun, the founder of the Tron network and one of World Liberty's largest financial backers. Last month, Sun sued World Liberty first, alleging serious misconduct by the company's management.

World Liberty subsequently filed a counterclaim, asserting that Sun not only publicly spread false statements about the company but also secretly shorted the company's native token, WLFI, in an attempt to drive down its price.

"We would not be bringing this suit without the evidence," Witkoff said, calling the legal action a "last resort."

Bank License: 'Final Stages of Conditional Approval'

Witkoff then steered the discussion towards World Liberty's regulatory ambitions. In January of this year, the company submitted an application for a national trust bank license to the Office of the Comptroller of the Currency (OCC), an agency under the U.S. Department of the Treasury. Once approved, World Liberty would be able to provide crucial banking service functionalities for its USD-pegged stablecoin, USD1.

"We're very excited about getting the charter," Witkoff said. "I think we're in the final stages of getting conditional approval."

This very license has been a focal point of criticism from Democrats in recent months. Senator Elizabeth Warren has repeatedly pointed to World Liberty's bank license application as evidence of what "may be the most disgraceful presidential corruption scandal in American history."

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Welcome to HTX.com! We've made purchasing Official World Liberty Financial (WLFI) simple and convenient. Follow our step-by-step guide to embark on your crypto journey.Step 1: Create Your HTX AccountUse your email or phone number to sign up for a free account on HTX. Experience a hassle-free registration journey and unlock all features.Get My AccountStep 2: Go to Buy Crypto and Choose Your Payment MethodCredit/Debit Card: Use your Visa or Mastercard to buy Official World Liberty Financial (WLFI) instantly.Balance: Use funds from your HTX account balance to trade seamlessly.Third Parties: We've added popular payment methods such as Google Pay and Apple Pay to enhance convenience.P2P: Trade directly with other users on HTX.Over-the-Counter (OTC): We offer tailor-made services and competitive exchange rates for traders.Step 3: Store Your Official World Liberty Financial (WLFI)After purchasing your Official World Liberty Financial (WLFI), store it in your HTX account. Alternatively, you can send it elsewhere via blockchain transfer or use it to trade other cryptocurrencies.Step 4: Trade Official World Liberty Financial (WLFI)Easily trade Official World Liberty Financial (WLFI) on HTX's spot market. Simply access your account, select your trading pair, execute your trades, and monitor in real-time. We offer a user-friendly experience for both beginners and seasoned traders.

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