TechFlow, May 16 — According to The Block, World Liberty Financial, through its law firm BakerHostetler, has responded to an inquiry by U.S. Senator Richard Blumenthal, calling the investigation "fundamentally flawed." Blumenthal had previously alleged that the company's USD1 stablecoin might violate federal laws and questioned the Trump family’s ties to the project.
World Liberty Financial emphasized that USD1 is a stablecoin fully backed by U.S. Treasuries and cash equivalents, designed to strengthen the global role of the dollar and expand financial inclusion. The company stated its mission is to reinforce, not undermine, the dollar’s role, particularly by providing dollar-based financial tools to underserved regions. It also explicitly denied any connection with Fight Fight Fight LLC, the entity behind the Trump-themed meme coin. Zach Witkoff, co-founder of World Liberty Financial, said on social media: "We won’t be intimidated by politically motivated politicians—we’re too busy building."
