The Trump family’s cryptocurrency token has begun trading, bringing the total value of the assets held by the US president and his sons to almost $5 billion (£3.7 billion). During the presidential campaign last year, the Trumps started a cryptocurrency company called World Liberty Financial, which raised concerns about possible conflicts of interest as he got involved in a sector that he would soon be able to control.
After being previously prohibited from selling, the firm raised money by selling investors its own digital tokens. However, in July, investors decided to permit early buyers, excluding founders like the Trump family, to sell up to 20% of the currency, which is traded as WLFI.
WLFI has fallen over 50% since Monday’s trading began, and as of Tuesday, it was trading at just $0.22 on platforms including Binance and Coinbase. Although the decline suggests weak demand, many early investors are still in a position to benefit because the currency is currently selling at a higher price than they initially paid.
Built on trust, speed, and U.S. values, we’re setting a new standard for financial freedom,” Eric Trump said on social media. “This is a huge moment for the future of money!” Financial records indicate that Trump’s wealth is mainly derived from cryptocurrency, with an estimated 15.75 billion WLFI tokens worth over $3.4 billion in his own possession.
Also Read:
Empowering the Youth with Innovative HR Solutions: Lawrence Lee
After the Tariff Agreement, UK Auto Sales to the US Increased
