Author: Sander Lutz

Translated by: Deep Tide TechFlow

Deep Tide Introduction: As rumors about World Liberty Financial's "Trump family exit" run rampant, Donald Trump Jr. and co-founder Zach Witkoff publicly responded at the Consensus conference in Miami. In addition to clarifying the rumors, Witkoff revealed that the national trust bank license the company is applying for "is about to receive conditional approval." Meanwhile, the company has launched a countersuit against Tron founder Justin Sun. A clarification has revealed three lines involving licenses, lawsuits, and political controversies.

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

"I saw something on Twitter saying that Don and Eric have given up on this project," said Zach Witkoff, another co-founder of World Liberty, from the stage.

"This news is new to me as well," Trump Jr. replied. He attributed the rumor to World Liberty's previous removal of the co-founder list from its official website, which included President Trump and his three sons, leading some to make a big deal out of it, along with the amplification by bot accounts.

"As long as there are enough people blindly following what others feed them, plus bots pushing it... If the rumor were true, I wouldn't be standing on this stage," Trump Jr. said.

"As far as I know, Don and Eric are still co-founders of this project," Witkoff added.

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

Countersuit Against Justin Sun: "We Will Not Sue Without Evidence"

The conversation then turned to the lawsuit World Liberty filed against crypto entrepreneur Justin Sun this week. Sun is the founder of the Tron network and one of World Liberty's largest financial supporters. Last month, Sun was the first to sue World Liberty, accusing the company's management of serious misconduct.

World Liberty subsequently filed a countersuit, claiming Sun not only publicly spread false information about the company but also secretly shorted the company's native token WLFI, attempting to depress its price.

"If there is no evidence, we will not file this lawsuit," Witkoff said, stating that this legal action is a "last resort."

Bank License: "About to Receive Conditional Approval"

Witkoff then shifted the topic to World Liberty’s regulatory ambitions. In January, the company submitted an application for a national trust bank charter to the Office of the Comptroller of the Currency (OCC) under the U.S. Treasury. Once approved, World Liberty will be able to provide essential banking services for its USD stablecoin USD1.

"We're very much looking forward to obtaining the license," Witkoff said, "I believe we are in the final stages of receiving conditional approval."

This license has indeed been the focus of the Democratic Party's criticism in recent months. Senator Elizabeth Warren has repeatedly pointed to World Liberty's bank charter application as evidence of "perhaps the most disgraceful presidential corruption scandal in American history."