Donald Trump openly defended his family’s crypto venture, World Liberty Financial (WLF), during a CBS News interview with Ross Douthat on November 8, 2026. The US president acknowledged that he remains a co-owner of WLF, but claimed his sons run all business operations independently without his involvement.
The candid admission comes as the boundary between the role of head of state and the Trump family’s commercial business faces scrutiny from hundreds of millions of dollars in foreign capital inflows.
Foreign Investment for 49 Percent Stake
Scrutiny over WLF intensified following a $500 million capital injection into the firm. The investment came from an entity linked to United Arab Emirates (UAE) National Security Advisor Sheikh Tahnoon bin Zayed Al Nahyan to acquire a 49% stake in WLF.
Responding to concerns over the capital transaction linked to the UAE official, Trump maintained that he had no knowledge of the deal, insisting business operations are run independently by his sons.
In the banking sector, WLF subsidiary WLTC Holdings previously secured conditional approval from the US Office of the Comptroller of the Currency (OCC) on August 14, 2026. The clearance from the federal banking regulator allows it to issue the USD1 stablecoin and provide institutional custody services.
Why He Refuses to Relinquish Ownership
A sitting president’s direct involvement in an entity holding federal banking approval and taking foreign capital has sparked calls for Trump to divest to avoid potential conflicts of interest.
However, Trump pushed back against divestment demands, arguing that the majority of his personal assets are managed by Wall Street investment managers in index funds, justifying retaining his co-ownership in WLF.
Document Subpoenas Ahead of January 2027
Trump’s defensive interview comes at a critical political juncture. Democrats won majorities in both the US House and Senate in the November 2026 midterms, paving the way for rigorous congressional oversight of the president’s family business.
Formal inquiries are already in the works. US Representative Robert Garcia, poised to lead the House Oversight Committee, has prepared a series of investigations into WLF’s ownership structure.
Regulatory pressure is mounting amid reports of Senate subpoenas giving related crypto business entities until early January 2027 to hand over transaction documents.
For crypto market participants and USD1 stablecoin users, early January 2027 marks a critical test: whether a president’s claims of non-involvement can hold up against official congressional document subpoenas.
Reported by crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
