crypto.news 2025-04-01 07:56:27

Trump family reportedly seizes majority control of World Liberty Financial

The Trump family has allegedly taken control of World Liberty Financial, gaining a large share of the platform’s revenue from token sales and future fees. According to a review of changes on the company’s website reported by Reuters on Mar. 31, two of the project’s co-founders, Zak Folkman and Chase Herro, were replaced by an organization in which the Trump family owns a majority stake. The Trump family’s company, DT Marks DeFi LLC, gained majority control of the platform in January 2025 by acquiring a 60% share through a new holding company, WLF Holdco LLC. These previously unreported changes mark a major shift in WLFI’s ownership and leadership. The Trump family will now control 60% of the company’s operating profits after the platform is fully operational, and they are also entitled to 75% of the token sales revenue under the new structure. You might also like: Trump pardons BitMEX founders, is ‘Bitcoin Jesus’ Roger Ver next? They are expected to receive about $400 million from the funds raised, as per Reuters’ calculations. Just 5% of the $550 million raised so far will be available for platform development after the co-founders receive their share. World Liberty Financial was founded in 2024 to offer blockchain-based financial services and eliminate intermediaries like banks. By selling WLFI, its governance token that grants holders the ability to vote on platform decisions, the company was able to raise money, including a $75 million investment from Tron founder Justin Sun. Despite the company’s decentralized finance goals, the platform’s governance structure raises concerns. Critics argue that because of the Trump family’s political influence, the company’s structure creates possible conflicts of interest. In addition, it restricts meaningful financial involvement from outside investors. Meanwhile, the Trump family continues to deepen their involvement in the cryptocurrency industry. Together with the cryptocurrency infrastructure company Hut 8, Eric and Donald Trump Jr. launched American Bitcoin, a Bitcoin ( BTC ) mining business, on Mar. 31. The Trump brothers own 20% of the venture, while Hut 8 holds the remaining 80%. Read more: Tether buys another $735M in BTC in Q1, bringing total holdings to $8.2B

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