The Trump family might gain $540 million from World Liberty Financial (WLFI), a decentralized finance (DeFi) project that is slated to launch on the Ethereum or Polygon blockchains.
Similar to the renowned DeFi protocol Aave, the initiative aspires to challenge established financial structures while also empowering the average American. WLFI intends to sell 30% of its token supply after attaining a $1.8 billion valuation, potentially earning $540 million for the Trump family.
The project, managed by Donald Trump‘s sons, Donald Jr. and Eric Trump, is positioned as a means of combating large financial organizations. Donald Trump himself has expressed support for the effort, emphasizing his commitment to fostering economic empowerment for the general public.
However, questions about potential risks have arisen, with cryptocurrency investor Nic Carter questioning the venture’s impact on Trump’s political standing.
Another source of concern is regulatory risk, as the US Securities and Exchange Commission (SEC) constantly monitors high-profile cryptocurrency ventures, resulting in greater attention. Despite these concerns, World Liberty Financial has reiterated its commitment to security and engagement with Aave.
The Trump family’s engagement with DeFi attracts attention, but it also poses obstacles, including regulatory scrutiny and the volatility of cryptocurrency markets. Earlier, reports concerning a DJT meme coin related to Barron Trump, Donald Trump’s youngest son, lost nearly all of its worth shortly after debuting.
