WSJ: Trump family earns up to $6 billion after launching new cryptocurrency WLFI

The family of the US president Donald Trump has received up to $6 billion in "paper" assets after the start of trading in the new cryptocurrency WLFI of their World Liberty Financial project. About writes The Wall Street Journal.

The newspaper notes that the launch is similar to an initial public offering, when tokens can be bought and sold on the open market like company shares. Prior to that, investors who bought WLFI from World Liberty could not exchange tokens.

The Trump family, including the president, owns almost a quarter of all WLFI tokens. Three of the president's sons are co-founders of World Liberty, and Trump is named an "honorary co-founder."

The founders' and team's tokens remain "locked" and are not yet available for sale.

The launch of the auction made WLFI the most valuable asset of the Trump family, surpassing the real estate portfolio.

World Liberty was founded by Trump during his election campaign with a promise to "make America great again, this time with crypto."

Trading in WLFI on crypto exchanges started rapidly. In the first hour, the turnover amounted to about $1 billion. On the popular Binance exchange, the WLFI token was trading between $0.24 and $0.30 per unit.

The Trump family has other assets as well: about 80% of the $Trump memecoin and more than half of Trump Media, which operates the Truth Social platform and owns cryptocurrencies.

• In March, it became known that after World Liberty Financial raised more than $500 million, the Trump family took control of a cryptocurrency project and embezzled the lion's share of the money.
• In June, it was reported that Trump declared more than $1.6 billion in income cryptocurrency, real estate, and the sale of branded goods, including sneakers, perfumes, watches, books, and even Bibles with his name on them.