Donald Trump Earns Over $57 Million from World Liberty Financial Tokens
U.S. President Donald Trump has garnered more than $57 million in revenue from the sale of tokens from the World Liberty Financial (WLF) project. This information is derived from a financial disclosure published by the Office of Government Ethics.
Trump holds 15.75 billion native WLFI tokens. Their estimated value is listed between $1,001 and $15,000, granting him voting rights in the project’s governance.
In WLF’s official documents, Trump is identified as the company’s “chief crypto advocate” alongside his three sons. It is noted that he is neither a director, founder, nor owner of the firm.
In March, the project concluded its second token sale round, raising $590 million. The team is currently focused on promoting the USD1 stablecoin.
Bitcoin Reserve and Trump Media
Meanwhile, Trump Media & Technology Group (TMTG), the operator of the Truth Social network, has received approval from the SEC to implement a bitcoin strategy. This decision unlocked $2.3 billion in capital raised from institutional investors.
The company can allocate these funds to purchase digital gold at any time. The amount and timing of asset acquisitions are at TMTG’s discretion.
The strategy also allows for the purchase of bitcoin-related securities or its sale for investment in other assets. According to a press release, TMTG may raise up to $12 billion in additional funding through the issuance of shares, debt obligations, or warrants. However, the company “has no immediate plans to issue any securities” under this mechanism.
The company is traded on Nasdaq under the ticker DJT. At the time of writing, the stock price is $19.52, according to Google Finance.
Trump’s social network Truth Social has filed an application with the SEC to launch a spot ETF tracking bitcoin and Ethereum prices. The product will be sponsored by Yorkville America Digital management company.
The fund will offer investors access to a basket of the two largest cryptocurrencies by market capitalization through the purchase of shares. This will spare them the complexities associated with direct ownership of digital assets.
The fund’s cryptocurrency custody will be managed by Crypto.com exchange operator — Foris DAX Trust Company.
The ETF shares are expected to be traded on the NYSE Arca. However, the company has yet to determine the instrument’s ticker and the custodian for fiat funds.
Later, Truth Social will submit an amendment to the application. The company will disclose details of the transaction agreement with Crypto.com.
Earlier, on June 5, a spat between Trump and billionaire Elon Musk caused bitcoin to plummet to $100,000.
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