Trump fortune balloons by billions after family firm’s crypto token starts trading | Cryptocurrencies
The Trump family’s cryptocurrency venture, World Liberty Financial, put its namesake digital tokens up for sale on Monday, adding some $5bn in paper value to Donald Trump’s family fortune. The token, known as $WLFI, fell in value on Monday in their first day of trading.
The World Liberty tokens were sold to investors after the Trump family and its business partners last year launched the venture, a decentralized finance platform that has also issued a stablecoin, a cryptocurrency meant to maintain a specific price by tying its value to a specific asset.
Investors in the tokens voted in July to make them tradable, paving the way for their sale and purchase – and potentially boosting the value of the president’s holdings of them.
