Trumps’ $750 million crypto deal sparks scrutiny: Family firm sells to itself, cashes in big; why watchdogs see red flags
The Trump family’s latest foray into cryptocurrency has triggered questions over conflict of interest after a $750 million transaction put their businesses on both sides of the deal, The Wall Street Journal reported.According to the WSJ, the arrangement centres on World Liberty Financial (WLFI) — the Trump family’s flagship crypto venture launched last year. Earlier this month, WLFI took over Alt5 Sigma, a publicly listed payments firm that evolved from a pain-treatment business. Alt5 then raised $750 million from outside investors and used the funds to buy WLFI’s newly created cryptocurrency.That structure, the Journal said, will deliver the Trump family a windfall of about $500 million, since an entity it controls retains up…
