World Liberty CEO denies favoritism claims over USD1 bank charter review

Zach Witkoff, CEO of World Liberty Financial (WLFI), denied allegations of favoritism surrounding the Office of the Comptroller of the Currency's preliminary conditional approval for World Liberty Trust, which is set to issue the USD1 stablecoin. In a Wall Street Journal opinion piece, Witkoff said Democratic Sen. Elizabeth Warren had argued the OCC could not review World Liberty's application fairly because of the Trump family's ties to the project. He said, however, that the OCC had granted similar conditional approvals to five rival firms nine months before World Liberty, and that DT Marks, the Trump family's holding company, had agreed not to exercise influence over World Liberty's management. Witkoff added that if final approval is granted, World Liberty would remain under ongoing OCC supervision even after President Donald Trump's term ends.