The crypto token backed by the Trump family, World Liberty Financial’s WLFI, began public trading this week, valuing the holdings of President Donald Trump and his sons at approximately $5 billion, amid concerns over potential conflicts of interest.
The WLFI token started trading on major exchanges like Binance and Coinbase on Monday, with an initial price that has since decreased by about 50% to around $0.22 as of Tuesday. Despite the drop, it remains above the initial sale prices, which ranged from 1.5 to 5 cents during private sales, offering profits to early investors who were previously restricted from selling.
Financial disclosures reveal that Trump himself holds roughly 15.75 billion WLFI tokens, worth over $3.4 billion at current rates, making cryptocurrency investments a significant and rapidly growing part of his fortune. The Trump family collectively controls nearly a quarter of the 100 billion tokens issued by World Liberty Financial, giving them substantial influence over the project’s direction and value.
Launched during the presidential campaign last year, World Liberty Financial raised funds through private token sales to accredited investors, generating over $500 million in revenue. The Trumps receive a cut of these proceeds, adding to their wealth through arrangements that have drawn scrutiny from regulators and ethics experts.
Promoted by Eric Trump on social media as a “huge moment for the future of money,” the project aims to usher in a new era of finance but has yet to fully launch products beyond the WLFI token and a stablecoin called USD1. The company’s vision includes decentralized finance services, though specific offerings like lending are still under development.
Critics, including Democrats and watchdog groups, have raised alarms about potential conflicts of interest, arguing that the Trump family’s deep involvement in crypto could improperly influence government policy and regulatory decisions. They point to instances like a dinner Trump held with top token holders, including figures previously targeted by enforcement actions, as evidence of blurred lines between personal profit and public office.
In response, the Trump administration has dismissed these concerns, emphasizing its commitment to innovation and economic opportunity. Under Trump’s leadership, there has been a notable shift in crypto policy, including the disbanding of the Department of Justice’s crypto crimes task force and a rejection of Biden-era securities guidance, which advocates say fosters growth but critics warn reduces accountability.
Despite the controversy, WLFI quickly ascended to become one of the top 30 cryptocurrencies by market cap, approximately $5.5 billion, reflecting strong investor interest. The Trump family is also expanding into other crypto ventures, such as memecoins and Bitcoin mining, further integrating their business interests with the burgeoning digital asset industry.
The ongoing developments at World Liberty Financial will be closely monitored for their implications on financial markets, regulatory frameworks, and the ethical boundaries of political leadership, highlighting the complex interplay between technology, economy, and governance in the modern era.
