We're getting into the definition of trust, but to me trust means exactly "I don't need to verify".
If I say I trust you to write correct code, I don't mean "I'm sure your mistakes won't be intentional", I mean "I'm sure you won't have mistakes". If I need to check your code for mistakes, I don't trust you to write correct code.
I don't know anyone who will hear "I trust you to write correct code, now let me make sure it's correct" and think "yes, this sentence makes sense".
The issue here is that the only value of the adage is in the sleight of hand it lets you perform. If someone asks "don't you trust me?" (ie "do you have to verify what I do/say?"), you can say "trust, but verify!", and kind of make it sound like you do trust them, but also you don't really.
The adage doesn't work under any definition of trust other than the one it's conflicting with itself about.
I think I just provided an example where it makes sense.
Specifically: I have confidence in your ability to execute on this task, but I want to check to make sure that everything is correct before we finalize.
If I say I trust you to write correct code, I don't mean "I'm sure your mistakes won't be intentional", I mean "I'm sure you won't have mistakes". If I need to check your code for mistakes, I don't trust you to write correct code.
I don't know anyone who will hear "I trust you to write correct code, now let me make sure it's correct" and think "yes, this sentence makes sense".