Donald Trump and his family will receive 75% of the revenue from World Liberty Financial’s new crypto project while facing no liability, documents reveal.
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| Documents show Trump family to earn 75% of revenue from World Liberty Financial’s crypto project without operational responsibility. Image Courtesy: Congress Library, Unsplash |
Washington, USA --- October 18, 2024:
A new document has surfaced, showing that Donald Trump and his family are poised to receive 75% of the net revenue from their cryptocurrency venture, World Liberty Financial (WLF), with zero operational liability. The crypto project launched its WLFI token this week, with a target of raising $300 million in its initial sale, valuing the project at $1.5 billion.
According to WLF’s official “World Liberty Gold Paper,” the Trump family will be granted 22.5 billion WLFI tokens, currently valued at $337.5 million, based on the launch price of 1.5 cents per token. Although the family is set to gain a substantial financial windfall, the document clearly states that neither Donald Trump nor his family will hold any operational roles, such as directors, managers, or employees of WLF.
The document further notes that the project and the tokens are non-political, distancing itself from Trump’s ongoing presidential campaign. However, Trump has spent recent months promoting the project, which was previously called “The DeFiant Ones” as a nod to DeFi, or decentralized finance.
Since the WLFI token launched, WLF has only managed to raise $12.9 million out of its targeted $300 million, according to the company’s website.
The Gold Paper also reveals that DT Marks DEFI LLC, a Delaware-based entity associated with the Trump family, is positioned to receive 75% of WLF’s net protocol revenue. This revenue includes all platform fees, token sales, and advertising proceeds, minus expenses. WLF has also set aside $30 million in reserves to cover operational costs.
While Trump and his family’s involvement in the crypto space isn’t new, the arrangement has raised concerns due to their non-liability clause and the significant financial benefit they stand to gain.
Requests for comment from both WLF and the Trump Organization have gone unanswered, leaving questions about the project’s future governance and transparency unanswered.