Donald Trump has reported significant earnings from his involvement with the cryptocurrency project World Liberty Financial (WLF), drawing attention to his actions in the crypto space.
Trump's Financial Disclosure
According to a more than 200-page financial disclosure filed with the U.S. Office of Government Ethics, Trump earned $57 million from WLF. This income turned out to be the largest among his other assets, including books and real estate.
Trump Family's Involvement in World Liberty Financial
Trump also holds 15.75 billion governance tokens in WLF, granting him significant control within the company. The report indicates that the Trump family receives 75% of the profits from token sales and 60% from WLF's operations. Additionally, the project raised about $550 million through token sales.
Criticism of Project Structure
Some experts express doubts about the benefits for token holders, as tokens cannot be traded. This makes WLF more centralized compared to other DeFi projects. Experts like Professor Jim Angel from Georgetown University point out that the project structure makes it difficult for public investors to participate.
Donald Trump's involvement in World Liberty Financial and his significant earnings from this venture raise questions about potential conflicts of interest and the governance structure of cryptocurrency projects.
