World Liberty Financial: Trump’s DeFi Vision Gains Strength
World Liberty Financial– The Trump family has significantly increased its control over World Liberty Financial (WLFI), a decentralized finance (DeFi) platform still under development. According to a Reuters article published on Monday, co-founders Zak Folkman and Chase Herro have been replaced as the “controlling parties” of the platform. This shift in power follows the launch of a new parent company, WLF Holdco LLC, which is 60% owned by DT Marks DeFi LLC, an entity affiliated with Donald Trump and his family.
World Liberty Financial recently raised $250 million in funding through a second WLFI token offering. This came shortly after the successful sale of an initial 20 billion WLFI tokens before Inauguration Day. In total, the project has raised $550 million by offering WLFI tokens to accredited investors in the U.S. and non-accredited investors globally. A significant portion of these sales is set to benefit the Trump family, with a reported 75% of the net revenue going to them.
Trump Family’s Growing Influence in DeFi
The Trump family’s growing influence in the DeFi space is further demonstrated by the creation of WLF Holdco LLC, a parent company overseeing the development of the WLFI protocol. As a result, the Trump family, along with DT Marks DeFi, now controls at least 22.5 billion WLFI tokens, which is 22.5% of the platform’s total 100 billion token supply.
Donald Trump himself was announced as the “chief crypto advocate” for World Liberty, with his sons Eric and Donald Jr. named “web3 ambassadors” and Barron Trump listed as the “chief DeFi visionary.” The Trump family’s strategic moves show a continued commitment to expanding their role in the emerging cryptocurrency and DeFi sectors.
In conclusion, World Liberty Financial’s development under the Trump family’s increasing control raises questions about the future impact on the DeFi landscape. With significant backing and leadership, the project is poised for potential growth, but its ties to the Trump family may influence investor perception in the evolving crypto market.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
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