The Trump family is making a killing in the cryptocurrency world. Their new cryptocurrency, World Liberty Financial (WLFI), has skyrocketed their net worth by over $5 billion practically overnight.
Instant Success
Launched on September 1st, WLFI generated a huge amount of hype. Over a billion dollars worth of the coin changed hands in the first hour alone, making it one of the top 35 cryptocurrencies globally. Donald Trump is officially listed as “Co-Founder Emeritus,” while his sons, Eric and Donald Jr., and son-in-law Jared Kushner, control a hefty 60% stake. The coin’s branding heavily uses Trump’s image and slogans like “Inspired by Donald J. Trump.” This makes WLFI the family’s most valuable asset, even surpassing their real estate holdings.
A Stark Contrast
This massive financial success comes at a time when many Americans are struggling with inflation and rising costs. Grocery prices are expected to increase significantly, and tariffs implemented during Trump’s presidency have added to household expenses. While millions are tightening their belts, the Trump family is amassing billions in digital wealth. Senator Patty Murray even publicly criticized this disparity, highlighting the high tariff rates impacting families.
Ethical Concerns and Legal Gray Areas
The Trump family’s venture raises serious questions about conflicts of interest. WLFI is already partnering with international organizations and expanding its services, further integrating itself into the financial system. However, experts warn that the family’s massive crypto holdings, much of which is currently illiquid, are in legally uncharted territory. The administration’s pro-crypto policies also seem to directly benefit WLFI, adding fuel to the ethical concerns.
The Future is Uncertain
For now, the Trump family’s gamble is paying off big time. But the long-term sustainability of this wealth and the potential for political backlash remain to be seen.