“The US President Donald Trump’s family consolidated control over the World Liberty Financial (WLF) Defi Platform, which attracted $ 590 million because of Toxensale, Reuters reported. In January, the company revealed that two co -founders – crypto -entrepreneurs Zacharus Faulkman and Chase Herro – are no longer controlling the sides. They were replaced by a WLF Holdco legal entity, 60% of which are related to Trump DT Marks defi. Presented in September 2024 […]”, – WRITE: Businessua.com.ua
The US President Donald Trump’s family consolidated control over the World Liberty Financial (WLF) Defi Platform, which attracted $ 590 million because of Toxensale, Reuters reported.
In January, the company revealed that two co -founders – crypto -entrepreneurs Zacharus Faulkman and Chase Herro – are no longer controlling the sides. They were replaced by a WLF Holdco legal entity, 60% of which are related to Trump DT Marks defi.
The WLF presented in September 2024 is positioned as a cryptobank whose customers can take loans, lend and invest in digital coins. The project has not yet started the stated activity, but spent the sale of WLFi Governance.
About 85,000 investors took part in the two toxeale assets. About 75% of the raised funds came from wallets, which spent at least $ 100,000, and more than half – from purchases of $ 1 million or more. Most large investors preferred to maintain anonymity. It is known that the founder of TRON Justin San has invested $ 30 million in WLFi.
In total, Trump’s family is now entitled to 75% of net income and 60% of the Defi platform operations as soon as the main business is working. According to Reuters, after the WLF co -founders get their share, the crypto -enterprise will remain 5% of the $ 590 million raised.
The experts interviewed noted the unusual level of WLF centralization for the industry. They drew attention to the transfer of a significant share of income affiliated with Trump structures and the non -trading nature of Wlfi.
“It is difficult for me to identify any economic benefit for the owner of these tokens,” said Associate Professor at the University of Georgetown Jim Angel.
A professor at Marketta University in Miluoka David Krause stressed that the structure of the project “practically excludes public investors or WLFi owners from any significant financial participation.”
Formally, the US Presidential Family does not hold a WLF leadership, although they have been actively involved in creating. The only directors first were Folkman and Herro. Trump was featured in the documents as a “chief cryptocurrency”, and his sons Eric, Berron and Donald Trump were noted as Web3-Ambasadors.
We will remind, Eric Trump has expanded his participation in the Krypto industry, having joined the partnership with a public mining company Hut 8.
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