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World Liberty Financial, co-founded by Donald Trump and his sons, launched the WLFI token, boosting their paper wealth to nearly $5 billion.
US President Donald Trump. (Reuters)
A newly launched cryptocurrency tied to the Donald Trump family has added billions to their paper wealth. World Liberty Financial, a digital-asset company co-founded by Donald Trump and his sons Eric, Donald Jr. and Barron began trading its WLFI token. The coin briefly surged to about 40 cents before sliding 48% to 21 cents after later steadying at roughly 23 cents, according to data from CoinMarketCap.
Despite the dip, the family’s stake- 22.5 billion WLFI tokens- is valued at close to $5 billion. The holdings remain locked under the company’s rules, preventing immediate sales.
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Even though Donald Trump has been blamed for conflicts of interest, the White House said, “Neither the president nor his family have ever engaged, or will ever engage, in conflicts of interest.”
What is WLFI?
WLFI gives holders voting rights on governance issues for World Liberty Financial, though the company cautions it is not meant to be an investment vehicle. The firm also issues USD1, a stablecoin pegged to the US dollar. WLFI’s governance structure sets it apart, giving holders a say in the policies shaping USD1 and the company’s direction.
The Donald Trump family and other insiders control more than 20% of WLFI’s supply, though the firm says no wallet can exercise more than 5% of governance power.
The Donald Trump family’s crypto forays extend beyond WLFI. In May, the $TRUMP meme coin offered top holders a dinner with Donald Trump, raising about $140 million. The token’s value nearly doubled before settling back to $8.30 this week.
- Location :
Washington D.C., United States of America (USA)
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