Trump Family Shifts to Crypto, Sees $5 Billion Surge with WLFI Launch
Donald Trump's family launched World Liberty Financial (WLFI), a crypto venture, seeing their wealth increase by $5 billion on its debut. This marks a significant financial shift.
Trump Family Coin Goes Public, Loses Value, Gets Hacked
New York Magazine
Trump family gains $5 billion in crypto trading debut
Washington Examiner
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Overview
- The Trump family, including US President Donald Trump, has shifted its financial focus from real estate to cryptocurrency, with new ventures becoming their most high-value assets.
- Donald Trump's sons founded World Liberty Financial (WLFI), a cryptocurrency venture whose token ($WLFI) saw its value surge by $5 billion on its first day of market trading.
- The WLFI token debuted at 28 cents, quickly rising to about 40 cents within five minutes on its Monday trading debut, contributing to the family's significant wealth increase.
- The family reportedly owns approximately a quarter of all WLFI tokens and controls a significant portion of $TRUMP and $WLFI memecoins, solidifying their stake in the crypto market.
- US President Donald Trump, previously dismissing Bitcoin as a scam, has reversed his stance, with Democrats criticizing the family's crypto ventures for alleged corruption and conflicts of interest.
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Analysis
Center-leaning sources frame the story by emphasizing the Trump family's substantial financial gain from their crypto venture, immediately juxtaposing it with ethical concerns. They highlight a "sharp reversal" in Trump's crypto stance and prioritize criticisms from Democrats and ethics experts. This collective editorial choice shapes a narrative questioning the venture's integrity and potential conflicts of interest.
"The Trumps overall control just under a quarter of the roughly 100 billion WLFI coins that it created last year, giving them claim to holdings worth roughly $5bn, as of Tuesday's prices."
BBC News"The venture is backed by the Trumps and lists President Donald Trump as a “co-founder emeritus.”"
USA TODAY"The digital token backing the Trump family’s new cryptocurrency venture generated a paper windfall estimated at $5 billion after its trading debut on Monday."
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FAQ
World Liberty Financial (WLFI) is a cryptocurrency venture founded by Donald Trump's sons, marking a shift of the Trump family's financial focus to crypto assets.
The Trump family's wealth increased by approximately $5 billion on the debut of the WLFI token trading, based on their holdings of about 22.5 billion WLFI tokens.
Democrats have criticized the Trump family's crypto ventures for alleged corruption and conflicts of interest, especially given Donald Trump's prior dismissal of Bitcoin and current political role.
The WLFI token is traded on major centralized exchanges including Binance, Kraken, and Bitget, with spot and futures trading available.
The Trump family reportedly owns approximately 22.5 billion WLFI tokens, representing about a quarter of all tokens, and controls a significant portion of related memecoins like $TRUMP.
History
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