Alongside him sat Zachary Witkoff, cofounder of World Liberty Financial and son of the White House envoy to the Middle East, Steve Witkoff. As a sort-of intermediary in the deal, World Liberty Financial stands to earn tens of millions of dollars. The model is simple: World Liberty Financial receives US dollars in exchange for coins that customers can trade freely in the crypto market. However, the deal has inflamed concerns about the prospect that World Liberty Financial, in which the Trump family holds a 60 percent stake through a separate entity, could become embroiled in a thicket of conflicts and thorny ethical issues. By transacting in USD1, the argument goes, entities affiliated with foreign powers could indirectly transfer wealth to the Trump family and purchase good favor with the sitting US president.