Mother Jones | Why Trump’s Crypto Empire Is in Chaos by Russ Choma
AI generated summary, Read the full article for complete information.
World Liberty Financial, a Trump‑family‑founded DeFi company launched in 2024, has become a lucrative but troubled crypto venture: it sold WLFI governance tokens and private stock that have raised over $550 million, netting the Trumps at least $57 million and a $187 million cash‑out from a $500 million stake sold to UAE billionaire Sheikh Tahnoon. The company’s stablecoin USD1 gained credibility after a $2 billion Binance deal, yet its WLFI token price has slumped more than 80 % since its 2024 peak, falling to under 10 cents amid concerns over complex loan arrangements that used the tokens as collateral with firms like Alt5 and Dolomite. Critics question the viability of DeFi and cite potential conflicts of interest and opaque governance, while investors remain uneasy about insider‑controlled voting rights and the lack of meaningful token votes. The turmoil escalated when major investor Justin Sun, after having his accounts frozen, sued World Liberty, underscoring the legal and financial instability surrounding the Trump‑linked crypto enterprise.
Read more: https://www.motherjones.com/politics/2026/04/trump-world-liberty-financial-token-price-usd1/
#Trump #Binance #JustinSun #corruption #TahnoonZayed
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