World Liberty Financial Unveils Strategic Token Reserve Amid Crypto Expansion Involving Trump Affiliates
New York, February 11, 2024 – World Liberty Financial (WLF), a newly established cryptocurrency platform backed by former President Donald Trump, announced on Tuesday the launch of a strategic token reserve aimed at bolstering major cryptocurrencies like Bitcoin and Ethereum. This move comes as part of WLF’s ambitious plans to further integrate the worlds of cryptocurrency and traditional finance.
In a statement posted on social media platform X, WLF emphasized that the new token reserve is designed to mitigate market volatility while empowering the platform to invest in innovative projects within the decentralized finance (DeFi) sector. Additionally, the company plans to pursue strategic partnerships with financial institutions to enhance its reserve with tokenized assets.
As of now, WLF has already recorded token sales totaling around $500 million, demonstrating substantial market interest and engagement in its offerings. Notably, Trump and his affiliates maintain a controlling interest in WLF’s holding company, owning a 60% stake, which entitles them to a significant portion of the company’s revenues.
The ramp-up of crypto endeavors by Trump’s family comes into sharper focus with WLF’s announcement. In recent months, the Trump family has been increasing their involvement in the cryptocurrency sector. This includes a majority stake in Trump Media & Technology Group, which has diversified into financial services tied to crypto, and the introduction of the $Trump meme coin shortly before the former president’s inauguration, which generated millions in revenue, including an estimated $100 million in fees.
WLF’s launch comes just months ahead of the U.S. presidential election, indicating a strategic positioning by Trump and his affiliates as they explore additional revenue streams through cryptocurrency. According to the company’s website, Trump’s family is entitled to 22.5 billion tokens from WLF’s reserves, further highlighting their significant involvement in the venture.
Recent events further illustrate the Trump family’s commitment to the cryptocurrency space. Donald Trump Jr. made headlines with a surprise appearance at the Ondo Summit in New York, an event billed as “Wall Street 2.0.” During the summit, he and the founders of WLF spoke to an audience comprising primarily attendees from traditional finance backgrounds. Trump Jr. stressed the importance of a regulatory framework that would allow cryptocurrency to thrive, describing it as a vital component of the “future of finance” and critical to maintaining American economic leadership.
The announcement from WLF and the Trump family’s growing focus on crypto comes at a time of heightened interest and investment in digital assets across the globe. Still, the company has not provided responses to requests for comment from various media outlets regarding these developments.
As World Liberty Financial seeks to bridge the gap between cryptocurrency and everyday retail investors, including public service professionals, its initiatives will likely be closely watched by both the financial community and the general public.
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Reporting by Michelle Conlin and Lawrence Delevingne; Editing by Leslie Adler.
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