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Witkoff’s diplomatic role has drawn scrutiny as World Liberty Financial grew into a crypto venture with a stablecoin market cap above $4.5 billion.

  • Special Envoy for Peace Missions Steve Witkoff manages Middle East diplomacy while remaining linked to the cryptocurrency enterprise World Liberty Financial, which his family helped create this year.
  • Witkoff forged a tenuous Gaza ceasefire last October, earning recognition in Tel Aviv, though critics and former diplomats express concern regarding his overlapping business ties in the Middle East.
  • World Liberty Financial features USD1, a fully dollar-backed stablecoin with a market cap exceeding $4.5 billion USD, though the enterprise faces scrutiny over potential conflicts of interest.
  • This January, World Liberty Financial applied for a bank charter to the Office of the Comptroller of the Currency, despite warnings from experts like Corey Frayer regarding enforcement concerns.
  • President Donald Trump emphasizes an "America First" foreign policy, relying on his 40-year relationship with Witkoff to navigate global negotiations while crypto profits continue flowing to both families.
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Slate broke the news in United States on Wednesday, July 22, 2026.
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