The Trump family's stake in the WLFI token surged to a paper value of $6 billion following the trading debut, with their holdings valued at around $4.38 billion after the token dipped sharply. The family's crypto portfolio includes the TRUMP memecoin, a Bitcoin mining venture, and digital asset holdings through Trump Media. Critics have raised concerns about potential conflicts of interest, but the family has denied any involvement in conflicts of interest.
The Trump family's stake in World Liberty Financial's (WLFI) native token has surged to a paper value of $6 billion following the token's trading debut on September 1, 2024. This significant increase is attributed to the token's initial market capitalization of $7 billion and the family's substantial holdings.
The WLFI token, which is the governance backbone of a real ecosystem as described by Donald Trump Jr., made its public debut on September 1, 2024. The token's circulating supply at launch was 24.6 billion, with an initial market capitalization of $7 billion, making it the 31st largest token [1].
The Trump family, including President Donald Trump and his sons Donald Jr., Eric, and Barron, are among the project's co-founders. Additionally, Steven Witkoff, the U.S. Special Envoy to the Middle East, and his sons Zach and Alex are also co-founders. The family's crypto portfolio includes the TRUMP memecoin, a Bitcoin mining venture, and digital asset holdings through Trump Media [2].
Following the token's debut, WLFI's price fell by 13% within 24 hours, leading to massive liquidations worth $21 million. This decline resulted in $12.22 million in long and $6.91 million in short WLFI positions being liquidated [1].
Despite the initial volatility, the Trump family's stake in WLFI has surged to a paper value of $6 billion, with their holdings valued at around $4.38 billion after the token dipped sharply. This significant increase is a result of the family's substantial investments in the project and their involvement as co-founders.
Critics have raised concerns about potential conflicts of interest, but the family has denied any involvement in conflicts of interest. The family's crypto portfolio includes the TRUMP memecoin, a Bitcoin mining venture, and digital asset holdings through Trump Media [2].
References:
[1] https://finance.yahoo.com/news/massive-liquidations-hit-trump-family-230004991.html
[2] https://www.ccn.com/news/crypto/donald-trump-crypto-portfolio/
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