Trump Jr., speaking at the Consensus crypto conference in Miami on Thursday, rejected claims that he and other members of the Trump family had walked away from the company. Witkoff, a co-founder and chief executive, said he had seen online suggestions that Donald Trump Jr. and Eric Trump had abandoned the venture, prompting Trump Jr. to respond that the claim was “news to me too”. He argued that misinformation had spread after World Liberty removed a list of co-founders, including President Donald Trump and his sons, from its website. Witkoff added that, as far as he knew, Donald Trump Jr. and Eric Trump remained co-founders of the project.
The comments came during a tense period for World Liberty Financial, which has become one of the most politically prominent crypto ventures in the United States. The company, co-founded by President Trump and his sons, has promoted itself as a bridge between decentralised finance and mainstream financial infrastructure, with ambitions built around its WLFI governance token and the USD1 stablecoin. Its public profile has also brought scrutiny over governance, conflicts of interest and the financial relationship between the Trump family and the project.
The pressure escalated after World Liberty filed a defamation lawsuit in Florida state court against Justin Sun, accusing the Hong Kong-based crypto entrepreneur of running a public campaign to damage the company’s reputation. The lawsuit alleges that Sun improperly transferred WLFI tokens carrying governance rights to Binance and placed short positions against the token after public trading began in September 2025. World Liberty argues those actions were part of an attempt to weaken the token’s market value.
Sun has denied the allegations and described the case as a meritless public relations exercise. His own legal action, filed in April, accused World Liberty of illegally freezing tokens he had purchased and of installing tools that prevented him from selling after the tokens became tradeable. Sun has also denied shorting WLFI. World Liberty has said its ability to freeze tokens was disclosed in the terms of sale.
The dispute represents a sharp reversal in a relationship that once helped World Liberty build market credibility. Sun emerged as a major backer in late 2024 and early 2025, buying tens of millions of dollars worth of WLFI tokens and becoming an adviser to the venture. He later said his holdings had reached at least $75 million. At the start of public trading in September 2025, Sun publicly praised the project, describing it as one of the biggest and most important efforts in crypto.
Market performance has added to the pressure. WLFI rose after news of World Liberty’s defamation suit, but remained far below its launch level. The token was down about 72 per cent from the start of trading on September 1, while Sun’s stake of 4 billion tokens was valued at about $264 million at the time of the Florida filing.
World Liberty’s wider business model has drawn attention because of its links to the Trump family and its revenue structure. The project’s bylaws allocate 75 per cent of revenue from WLFI token sales to Trump-linked entities, and the venture has generated substantial income for the family. Its planned decentralised finance app has yet to launch, leaving investors and market participants focused on token sales, governance decisions, stablecoin development and regulatory approvals.
Witkoff also used the Miami appearance to defend World Liberty’s broader strategy, including its stablecoin ambitions and governance model. Supporters view the project as part of a wider shift in US crypto policy under a more industry-friendly administration, while critics say the overlap between political power, family-linked commercial interests and token sales raises unresolved ethical questions.
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