Donald Trump Jr. denies rumors of an impending collapse of World Liberty Financial.

CoinFeed reported on May 8th, citing CoinDesk, that World Liberty Financial co-founder Donald Trump Jr. and CEO Zach Witkoff denied rumors circulating on social media at the Consensus conference that the Trump family-affiliated crypto platform was on the verge of collapse. Previously, rumors circulated that members of the Trump family had abandoned the project; Witkoff responded that a brief design change to the team's website was misinterpreted as a family member leaving. Donald Trump Jr. stated that these negative narratives were manipulated by bots. The two also defended the company's stablecoin, USD1, addressing questions about the authenticity of its reserves. Witkoff stated that the token uses a partnership with Chainlink to achieve real-time on-chain proof of reserves, which users can verify themselves.