Trump’s crypto wealth is estimated to be nearly $1 billion in White House report
In a recent Fortune magazine report, President Donald Trump’s growing entanglement with the cryptocurrency industry is revealed in his first financial report since taking office.
The report highlights all aspects of his business interests, including golf courses, sponsored transactions, and his publicly traded media group. It is worth noting that it articulates Trump’s crypto platform, World Free Finance (WLFI), announced by his son last summer.
$57 million earned from crypto token sales
Financial Disclosure reveal Trump generated more than $57 million from token sales on the World Freedom Platform. He owns nearly 16 billion governance WLFI tokens (actually the company’s voted shares).
Based on previous sales, the valuation tokens ranged from $1.5 to $0.5, and Trump’s shares could be worth nearly $1 billion, although Bloomberg estimates that the tokens are not yet traded.
Discussion as Congress Blockchain regulation Strengthened, government regulators have raised concerns about the potential conflict of interest caused by Trump’s risky adventures in the cryptocurrency space. The report provides the first substantial insight into how Trump can deeply embed in digital assets.
Prior to his recent campaign, Trump expressed doubts about cryptocurrencies, labeling Bitcoin (BTC) as a “scam” a few years ago. But in his last campaign, he began to embrace blockchain technology and promised to be the first president to support the industry.
His participation includes participating in industry events such as the country Bitcoin Conferencewhere he promoted the technology and explored his business opportunities in the field.
Trump expands digital asset businesses
Trump’s attempts to cryptocurrency have expanded a series of initial launches No sterilization token (NFTS) engages more comprehensively through world free finance.
The World Free Financial Platform announced by his son Eric Trump that it aims to herald a “new financial era”, although its specific functions remain unclear.
In recent months, World Freedom has launched a variety of products, including governance tokens and a dollar-fixed Stablecoin called USD1. As an Emirati Investment Firms has attracted attention from this stable person, the company has injected $2 billion into one of the world’s largest cryptocurrency exchanges.
The report also deals with another important aspect of Trump’s cryptocurrency – his Memecoin, also named trump cardthis was launched before he took office. While Memecoin’s market capitalization has dropped from $9 billion in January to about $2 billion today, it remains a controversial asset.
Trump’s organization is believed to have about 80% of the total supply of the meme. In May, Trump hosted a dinner for top memorial holders, an incident that sparked criticism from lawmakers, especially Democrats.
As of this writing, Bitcoin was trading at $107,550, briefly falling to $102,000 last weekend. According to Coingecko dataCryptocurrencies have grown 4.5% over the past month.
Featured pictures from Bloomberg, charts from TradingView.com
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