Secret Deals and Foreign Investments Fuel the Rise of Trump’s Crypto Firm
April 29, 2025
By Eric Lipton, David Yaffe-Bellany, and Ben Protess
In a disturbing intersection of politics and commerce, new revelations surrounding World Liberty Financial, a cryptocurrency firm associated with former President Donald Trump and his sons, indicate an unprecedented blurring of lines between private enterprise and government policy. The New York Times has reported on a series of secretive transactions and foreign investments that have characterized the company’s rise in the burgeoning crypto market.
Unveiling the Strategy
Shortly before Donald Trump’s inauguration, a proposal labeled as “ZMoney” was circulated via the encrypted messaging platform Signal. This outreach came from Zachary Folkman, an entrepreneur with prior experience at a company named Date Hotter Girls, who is now representing World Liberty Financial. Folkman’s pitch targeted a startup located in the Cayman Islands, proposing a partnership where the two entities would mutually purchase each other’s digital coins—an arrangement positioned to enhance the Cayman startup’s public profile.
However, this alluring offer came with strings attached. According to The New York Times investigation, the startup would be required to make an undisclosed multimillion-dollar payment to World Liberty to partake in this partnership. In Folkman’s words, associating with Trump’s family business could significantly elevate the credibility and public exposure of involved firms. He claimed that other partners had committed between $10 million and $30 million to World Liberty for similar benefits.
Ethics Under Scrutiny
Despite the potential benefits highlighted in the proposal, the Cayman startup and several other firms that received comparable overtures ultimately found the arrangements unethical. Executives at these companies concluded that World Liberty was, in effect, selling an endorsement while concealing the financial commitments from public view.
Nevertheless, executives at World Liberty remained undeterred by such rejections. The firm shifted its strategy, successfully securing similar deals with other businesses while actively marketing its cryptocurrency to a global audience. Reports indicate that World Liberty has generated over $550 million in sales, with a significant portion of the proceeds directed to the Trump family.
Implications and Concerns
The emergence of World Liberty Financial and its strategies raises serious ethical and legal questions regarding the intersection of business and politics in America. Experts worry that this lack of transparency could undermine trust in both private entities and public institutions. Critics fear that Trump’s ventures may set a concerning precedent, further eroding the established boundaries between personal business interests and governmental responsibilities.
As scrutiny of the firm continues, the implications of the intertwining of cryptocurrency, foreign investments, and political power remain to be fully understood in this evolving narrative.
This reporting sheds light on the complexities surrounding World Liberty Financial, inviting a broader discussion about the standards of conduct for businesses connected to political figures and the potential ramifications for American governance and corporate ethics.
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