The Trump family has reduced its stake in the crypto platform World Liberty Financial. This step is part of a larger narrative surrounding the family's involvement in the crypto sphere.
Trump Family's Stake Reduction in WLF
According to a June 19 report by Forbes, DT Marks DeFi LLC, a company controlled by the Trumps, held a 75% stake in WLF as of December 2024. However, WLF's website stated that the company owned 'approximately 60%' as of January. The stake was subsequently reduced to 40% after June 8. It is unclear whether this move was profitable for the Trump family.
USD1 Stablecoin Launch
Recently, WLF began issuing its USD1 stablecoin, pegged to the US dollar. This launch coincides with the advancement of the GENIUS Act, which has gained bipartisan support in Congress. USD1 started off strong, drawing attention due to an agreement with the President of the UAE for a $2 billion investment in the leading crypto exchange Binance.
Conflicts of Interest and Future Actions
Trump is calling for lawmakers to quickly approve the GENIUS Act. However, the family's crypto ventures have faced scrutiny due to potential conflicts of interest, which may influence the upcoming House vote on the proposal.
The Trump family's stake reduction in WLF and the launch of the USD1 stablecoin raise questions about their influence on the market and potential conflicts of interest. These developments continue to be a focal point of attention from the public and lawmakers.
