Trump Crypto Firm CEO Tries to Fend Off Cronyism Concerns — Market Talk

The head of President Trump's co-owned cryptocurrency firm, World Liberty Financial, tried to dispel concerns that the firm's stablecoins could be used as a conduit for companies and countries to funnel money to the president. "I would completely dispute that notion," CEO Zach Witkoff tells CNBC's "Squawk Box," saying the company's stablecoins have high volumes and proof that costumers are actually using it. Facing skepticism from the hosts, Witkoff says Trump was a successful businessman before he became president and that the stablecoins are a small piece of the Trump business empire. Witkoff adds that he has never talked to Trump about the business. ([email protected])