World Liberty Financial Launches Token Reserve as Trump Enters Crypto Space
New York, February 11 (Reuters) – World Liberty Financial (WLF), a newly established cryptocurrency platform partially owned by former President Donald Trump, announced the introduction of a strategic token reserve aimed at stabilizing and promoting major cryptocurrencies such as Bitcoin and Ethereum. This move reflects a broader trend of increasing investment in the digital currency landscape by Trump and his associated companies.
WLF’s announcement, made through a statement on the social media platform X (formerly known as Twitter), outlines how the new token reserve is designed to mitigate market volatility while empowering the company to invest in innovation within the decentralized finance sector. In addition, WLF plans to forge strategic partnerships with various financial institutions to enhance the reserve with tokenized assets.
Despite the importance of this announcement, WLF did not provide additional comments when requested, and both the White House and the Trump Organization also did not respond to inquiries regarding the new venture.
The timing of WLF’s launch coincides with a notable shift toward cryptocurrency engagement by Trump and his family-run businesses. Besides WLF, the Trump family maintains a majority stake in Trump Media & Technology Group, a company that recently announced its transition into crypto-related financial services. Alongside these ventures, Trump made headlines in January with his launch of the $Trump meme coin, which gathered considerable financial interest, reportedly generating about $100 million in fees.
According to calculations by Reuters, WLF has already achieved token sales reaching approximately $500 million, signaling robust early engagement in the cryptocurrency market. Notably, the company was established two months before the upcoming U.S. presidential election, further intertwining Trump’s political aspirations with his financial endeavors in the crypto sector. Trump and his affiliates collectively hold a 60% stake in WLF’s holding company, allowing them to claim 75% of generated revenues alongside a distribution of 22.5 billion tokens detailed on the company’s website.
The development of WLF comes shortly after Donald Trump Jr.’s unexpected appearance at the Ondo Summit in New York City, known as Wall Street 2.0. During this event, attended predominantly by experts from the traditional financial sector, Trump Jr. emphasized the purpose of WLF—to bridge the dividing line between cryptocurrency and everyday retail investors, such as teachers and firefighters.
Trump Jr. advocated for a regulatory framework conducive to the growth of digital currencies, referring to crypto as the ‘future of finance’ and a vital component of ‘American hegemony,’ solidifying the family’s commitment to this evolving market.
As developments unfold with WLF and its initiatives, the legacy of Trump within the financial landscape continues to attract attention amid ongoing discussions regarding the regulatory future of cryptocurrency in the U.S.
For further updates, stay tuned to our coverage.
Reporting by Michelle Conlin and Lawrence Delevingne; Editing by Leslie Adler.
Share this article:
