According to a report by MacKenzie Sigalos for CNBC, Donald Trump’s crypto venture, World Liberty Financial (WLF), published a “gold paper” on Thursday outlining its mission and how $WLFI tokens would be allocated, including significant financial benefits for the Trump family. The document reveals that Trump and his family could receive up to 75% of the project’s net revenue. The tokens were launched this week with a value of 1.5 cents per token, placing the Trump family’s share at 22.5 billion tokens, worth around $337.5 million.
The Trump family has spent months promoting this crypto project. Previously referred to as “The DeFiant Ones”—a nod to decentralized finance (DeFi)—the project officially launched the WLFI token on Tuesday. WLF aims to raise $300 million at a $1.5 billion valuation in its initial sale, but by Thursday, only $12.9 million had been raised.
The document also specifies that Trump and his family hold no formal roles in WLF and have no legal liability. The tokens and the project are described as non-political, with no affiliation to any campaign. The entity behind WLF, DT Marks DEFI LLC, a Delaware-based company tied to Trump, is set to receive three-quarters of net protocol revenues. These revenues include platform fees, token sales, and advertising income, among other sources.
WLF positions itself as a crypto bank, encouraging users to borrow, lend, and invest in digital coins. Approximately $30 million from the initial revenue will be reserved for operating expenses.
The CNBC report went on to say that the remaining 25% of net revenue will go to Axiom Management Group (AMG), a Puerto Rico-based company owned by co-founders Chase Herro and Zachary Folkman. Folkman, who previously developed crypto projects like Dough Finance, and Herro, who launched Pacer Capital, are apparently leading the project along with Steve Witkoff, a close friend and political donor to Trump.
The project’s gold paper refers to Trump as the “chief crypto advocate,” while his three sons are described as “Web3 ambassadors.”
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