Contrary to speculation, a digital currency company maintains that it still enjoys the backing of the former US President's offspring.

Yesterday, Donald Trump Jr. unequivocally denied speculation circulating on social media that his family has severed ties with World Liberty Financial, a cryptocurrency firm. This reassurance came as the company finds itself embroiled in a highly publicized dispute with Justin Sun, the founder of Tron.

Zach Witkoff, co-founder of World Liberty Financial, revealed that the company is on the cusp of obtaining a conditional national bank charter, a development that could significantly bolster its regulatory standing. Witkoff's announcement came during a panel discussion at Consensus, a prominent cryptocurrency conference held in Miami.

Rumors of the Trump family's alleged departure from World Liberty Financial had been sparked by the removal of their names from the company's website. However, both Trump Jr. and Witkoff were quick to dismiss these claims, attributing them to the spread of misinformation online. Trump Jr. emphasized that the persistence of such rumors is often fueled by people blindly accepting and disseminating false information.

The panel, moderated by David Wachsman, an independent cryptocurrency public relations expert who handles communications for the Trump family's cryptocurrency venture, also addressed the recent lawsuit filed by World Liberty Financial against Justin Sun. The lawsuit accuses Sun of defamation, alleging that he not only publicly disseminated falsehoods about the company but also secretly shorted its native token, WLFI, in an attempt to depress its value. Witkoff asserted that the decision to file the lawsuit was not taken lightly, stating that the company would not have pursued this course of action without substantial evidence.

In January, World Liberty Financial submitted an application for a national trust bank charter to a division of the Treasury Department, which is currently overseen by President Donald Trump's administration. If approved, this charter would enable the company to perform critical banking functions related to its USD1 stablecoin. Witkoff expressed optimism about the prospect of obtaining the charter, indicating that the company is in the final stages of the approval process.

The pending bank charter application has drawn criticism from top Democrats, who view it as evidence of President Trump's alleged corruption in the cryptocurrency sector. Senator Elizabeth Warren has been particularly vocal, characterizing the potential approval of the banking charter as a egregious example of presidential corruption. Despite these criticisms, World Liberty Financial remains committed to its regulatory ambitions and is pushing forward with its plans.