Zak Vitcoff, CEO of World Liberty Financial, cited trading activity data for $USD1 as evidence that this stablecoin enjoys market demand.
Vitcoff made his comment in response to criticism from those who view $USD1 as a tool for buying influence over President Dent. The discussion became even more relevant after federal regulators granted a banking license to World Liberty Financial, which will increase the influence of the President Dent family on this company
Over 24 hours, the trading volume for $USD1 reached approximately $1.42 billion, with a market capitalization of around $4.03 billion and a turnover ratio exceeding 35%.
Vitcoff considers such trading activity to be organic: "$USD1 has grown because institutional investors trust how it operates, and trust in the scale of the enterprise warrants federal oversight support," he said, adding that the company is open to scrutiny from federal regulators.
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On August 14, the Office of the Comptroller of the Currency (OCC) granted World Liberty Trust Co. preliminary conditional approval to establish a national trust bank. This will allow the company to directly issue and redeem U.S. dollars ($USD1), hold the reserves backing $USD1, and provide custodial services without relying on an external partner.
This is not a typical bank, as it cannot issue loans, offer credit cards, or accept state-insured deposits.
This approval has fueled the debate about demand for $USD1. World Liberty aims to "promote the widespread adoption of $USD1," and Donald Trump has praised the stablecoin law he signed in 2025 for enabling the "widespread adoption of dollar-backed stablecoins."
What Do Critics Say About World Liberty's Performance?
Ethics oversight organizations and academics have a different view. James Angel, an associate professor at Georgetown University's McDonough School of Business, said that the reason anyone holds $USD1 is simply its proximity to the White House.
The difference in scale only deepens the skepticism. Approximately $183 billion of Tether's USDT is in circulation, and over $70 billion of Circle's USDC, while for $USD1 it's about $4 billion.
Nevertheless, Democrats have not held back. Senator Elizabeth Warren called the OCC's decision "the most brazen act of official misconduct our financial system has ever seen."
Along with Representative Maxine Waters, Senator Warren has asked the Securities and Exchange Commission to respond on whether Trump's financial ties have influenced the management of World Liberty.
Financial Stakes in This Dispute
The question of demand is important due to the scale of money involved. DT Marks DEFI LLC, linked to the Trump family, owns approximately 38% of the holding company that controls World Liberty Financial, and Trump family members own 22.5 billion of its governance tokens.
In his 2025 income disclosure, Trump noted that about $600 million came from the sale of World Liberty tokens and stock.
World Liberty refuses to acknowledge any conflict of interest . They claim Trump has no involvement in managing the company, and none of its executives or employees are government officials.
A company representative stated that critics are "missing the point," as the firm is currently focused on complying with regulations and necessary oversight, not avoiding them.
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