Trump Family Cryptocurrency Tokens Approved for Trading 99.94%

Investors in World Liberty Financial (WLFI), a cryptocurrency venture owned by the Trump family, have voted overwhelmingly to open the tokens for trading. This decision, approved today, will allow the platform's tokens to be traded on exchanges, potentially increasing the value of the Trump family's holdings. World Liberty, a decentralized finance (DeFi) initiative launched by the Trump family and their associates last fall, initially offered investors digital tokens called WLFI and a stablecoin. These tokens were non-tradable, with holders only given the right to vote on changes such as the platform's underlying code structure.

The primary attraction for investors was the direct connection to Trump's name, which fueled expectations that the tokens would appreciate in value over time. Now, with the tokens' ability to be traded on the open market, speculative interest could increase, potentially earning trading fees for crypto exchanges where they are listed. Once the tokens become available for trading, the value of the Trump family's holdings could increase significantly. While the exact amount of tokens held by the family has not been disclosed, Trump's company, DT Marks DEFI LLC, was scheduled to receive 22.5 billion of the 100 billion tokens, according to the project's launch documents. President Trump held 15.75 billion WLFI tokens as of the end of 2024.

The Trump family has earned approximately $500 million to date through the World Liberty platform. However, this development also raises ethical questions. Democratic Senator Elizabeth Warren and Representative Maxine Waters wrote in a letter to the US Securities and Exchange Commission (SEC) that the Trump family's financial interests in World Liberty pose an “unprecedented conflict of interest.” The letter stated that these interests could influence the Trump administration's regulatory stance toward the crypto sector. The SEC has not yet classified WLFI tokens as securities, which exempts them from the same stringent regulatory oversight as stocks. The White House has maintained that all of Trump's assets are held in a trust managed by his children and that there is no conflict of interest. However, details of the trust structure have not been made public. The trust's sole beneficiary designation of President Trump means that hundreds of millions of dollars in cryptocurrency transactions made during his term could be used personally at any time.

World Liberty published its proposal to open trading for WLFI tokens on its website on July 9. Of the approximately 20,900 votes cast, 99.94% voted “yes.” A World Liberty spokesperson stated that details of how the tokens would be traded would be released soon. This move marks a significant development in the Trump family's cryptocurrency ventures and could have far-reaching implications for the broader crypto market. The decision to allow trading of WLFI tokens could attract more investors and increase liquidity, potentially driving up the value of the tokens. However, it also raises concerns about the potential for conflicts of interest and the need for greater regulatory oversight in the crypto sector.