Donald Trump Jr. denies rumors World Liberty Financial is falling apart

World Liberty Financial co-founder Donald Trump Jr. and co-founder and CEO Zach Witkoff pushed back on recent online rumors as the crypto firm battles Justin Sun in court.

What to know:

• Donald Trump Jr. and World Liberty Financial chief executive Zach Witkoff rejected social media rumors in Miami that the Trump-linked crypto platform is collapsing or losing Trump family support.
• The company recently sued Tron founder Justin Sun in Florida, accusing him of gross misconduct in WLFI token purchases and of using influencers and bots to spread defamatory claims, after Sun earlier sued WLFI in California over frozen tokens.
• Witkoff defended WLFI’s USD1 stablecoin as fully backed with real-time, on-chain proof of reserves via Chainlink and said the firm would not have filed its case against Sun without strong evidence.

MIAMI BEACH, Fl. — Donald Trump Jr. denied online rumors that WLFI$0.07422, the crypto platform tied to the Trump family, is unraveling amid a growing legal battle with Tron founder Justin Sun.

Speaking at Consensus in Miami on Thursday, Trump Jr. and WLFI co-founder and CEO Zach Witkoff pushed back against speculation circulating on social media about the company’s leadership, reserves and business operations.

“Just because they say it doesn’t mean it’s true,” Trump Jr. said about reports in the media. “Narratives get created. They’re driven, and they’re bot-farm based.”

The comments came days after World Liberty filed a defamation lawsuit against Sun in Florida state court. The suit alleges Sun engaged in “gross misconduct” tied to WLFI token purchases and used influencers and bots to spread false claims about the company.

Sun had previously sued WLFI in California federal court, claiming the company unfairly froze his WLFI tokens.

At the Miami event, Witkoff addressed rumors that Trump family members had distanced themselves from the project after WLFI removed a team page from its website.

“I think I saw on Twitter at one point that, you know, Don and Eric had abandoned the project,” Witkoff said. Trump Jr. dismissed the speculation.

“It was news for me too,” he said. “They changed the website design for a few minutes and, oh my God, they’re bailing on it.”

The executives also defended the company’s stablecoin, USD1, against criticism online. Witkoff said the token has “real-time proof of reserves” through a partnership with Chainlink LINK$9.8883 and claimed users can verify reserves directly onchain.

Trump Jr. accused critics and some media outlets of intentionally spreading misleading narratives about WLFI.

Witkoff also defended the lawsuit against Sun, saying the company would not have filed the case without evidence.

“We wouldn’t have filed that lawsuit if we didn’t have the receipts,” he said.

The Florida lawsuit seeks damages and retractions from Sun over statements WLFI claims harmed the company and its business opportunities. World Liberty Financial is being represented by the top defamation law firm, Clare Locke LLP.

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LINKLINK$9.8883◢0.78%