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★ Private Action

Trump family launches World Liberty Financial crypto platform

Crypto DeregulationTrump Family Business Dealings

Filed September 2024

★ The Brief

What happened

On September 16, 2024, Donald Trump announced World Liberty Financial during a multi-hour livestream from Mar-a-Lago. The cryptocurrency platform, not yet live, would be controlled by Donald Trump Jr. and Eric Trump alongside co-executives Chase Herro and Zachary Folkman; the founding team was allocated 20% of the platform's governance token supply.

Who enabled it

Who benefits

Deal or steal?

Trump announced the platform while running for president. Once he won, foreign-linked buyers funneled hundreds of millions into the family-controlled crypto venture — most prominently UAE-backed Aryam, which bought 49% of the company for $500 million four days before his inauguration.

On September 16, 2024, former President Donald Trump announced World Liberty Financial, a cryptocurrency platform, via a livestream on X from his Mar-a-Lago resort in Palm Beach, Florida. The platform, not yet live at the time of announcement, is to be controlled by Donald Trump Jr. and Eric Trump, along with co-executives Chase Herro and Zachary Folkman. The token structure disclosed during the event allocates 20% of WLFI tokens to the founding team including the Trumps, 17% to user rewards, and 63% for public sale. Trump disclosed few operational specifics during the multi-hour event.

Actors

Who pushed it · 1

Who initiated, paid, or pushed the action.

  • Donald Trump
    Donald Trump

    Then-presidential candidate who announced World Liberty Financial via a multi-hour livestream from Mar-a-Lago. Per his own disclosures, personally owned 70% of DT Marks DEFI LLC, one of the Trump-family pass-through entities that captures the bulk of the platform's token-sale proceeds.

Beneficiaries

Who gained · 5

Who stood to gain.

  • Chase Herro

    Co-executive behind World Liberty Financial who helped structure and reveal the WLFI token allocation during the announcement event.

  • Donald Trump Jr.
    Donald Trump Jr.

    Named as a controlling figure of World Liberty Financial and part of the founding team receiving a portion of the 20% of tokens reserved for founders.

  • Eric Trump
    Eric Trump

    Named as a controlling figure of World Liberty Financial and part of the founding team receiving a portion of the 20% of tokens reserved for founders.

  • Zachary Folkman

    Co-executive behind World Liberty Financial who publicly disclosed the WLFI token distribution breakdown during the livestream announcement.

  • World Liberty Financial
    World Liberty Financial

    The newly announced cryptocurrency platform whose token structure was revealed; set to conduct a public token sale representing 63% of WLFI supply.

Sources

Further reading