The Rise of Trump’s Crypto Firm: An Examination of World Liberty Financial

April 29, 2025—New York City – In an extensive investigation, The New York Times has delved into the emergence of World Liberty Financial, the cryptocurrency venture associated with Donald Trump and his sons. The company has seemingly blurred the lines between private business operations and government policy in unprecedented ways in American history.

A Controversial Pitch

The story begins shortly before Trump’s inauguration, when an offer from “ZMoney”—a pseudonym for entrepreneur Zachary Folkman—was sent via the encrypted messaging app Signal. Folkman, once known for running a company with a dubious name, was now representing World Liberty Financial. He approached a Cayman Islands-based startup, pitching a partnership that promised to enhance the startup’s public profile by trading each other’s digital coins.

However, there was a significant caveat. The startup was expected to make a substantial payment—estimated in the millions of dollars—to World Liberty for the mere opportunity to associate with the Trump brand. “Everything we do gets a lot of exposure and credibility,” Folkman asserted in his communication, bragging about other partners’ investments ranging from $10 to $30 million.

Despite the persuasive pitch, the Cayman-based startup, along with several others that received similar offers, ultimately declined. Executives deemed the arrangements unethical, perceiving World Liberty’s proposal as a covert attempt to monetize endorsement through undisclosed financial ties.

Continued Success Amid Controversy

Despite the rejections, World Liberty’s executives maintained that their practices were above board and not improper. They moved forward, effectively courting other firms and successfully marketing their cryptocurrency globally. Reports indicate that the company has amassed over $550 million in sales, with a significant portion of the revenue benefitting Trump’s family.

The activities surrounding World Liberty raise questions about the relationship between private interests and political power, particularly in the context of the cryptocurrency realm, which already operates in a space fraught with regulatory ambiguity.

The Bigger Picture

This revelation about World Liberty Financial coincides with Trump’s presidency and has highlighted how political influence can intertwine with private enterprise. As the firm continues to grow and navigate the complexities of the crypto market, many are left to ponder the ethical implications of such partnerships and the broader impact on both the cryptocurrency industry and governance.

The Times will continue to monitor developments in this unfolding story, which positions itself at the intersection of politics, finance, and ethics in America.

Contributors

This investigative piece was authored by Eric Lipton, a seasoned investigative reporter with a history of covering various topics from government spending to public health issues; David Yaffe-Bellany, who specializes in the cryptocurrency sector from San Francisco; and Ben Protess, an investigative journalist focused on Presidential matters.

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For a deeper understanding of the evolving relationship between cryptocurrency and political influence, subscribe to The New York Times and gain access to timely articles and further insights into U.S. politics.

For any inquiries about this article, please contact Eric Lipton, David Yaffe-Bellany, or Ben Protess.

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