World Liberty Financial, a transparency project that preaches decentralization for all, has collected more than half a billion dollars, but a closer look reveals a sudden development: The Trump family has taken control, as it put themselves to collect the lion’s share of money.
Reuters investigation reveals the conditions of governance that industry experts are unusually favorable to the informed, raising concerns about the real decentralization of the project and the possibility of conflicting interests.
From Defi Dream to the Trump Dynasty
The global Liberty was launched last fall, aiming to revolutionize financial services by providing exactly on encrypted currency solutions without traditional mediators.
This vision promised decentralization (Defi) to enable individuals, but the progress of the project was slow.
Despite its ambitious goals, World Liberty has not yet launched a public platform and is not only proud of small employees, according to the project reviews.
However, World Liberty announced in mid -March that it raised an amazing $ 550 million by selling the distinctive governance codes, known as WLFI $.
Reuters analysis reveals that the majority of these sales occurred after Donald Trump’s electoral victory in November.
These symbols are designed to grant voting rights holders to changes in the basic law of the project and express their views about its direction.
Decally, they cannot be circulated, which limits its potential value for external investors.
A quiet acquisition: The Trump family assumes control
With the global donation collection of Liberty momentum, a major change occurred behind the scenes.
In January, accurate printing reviews on the project site on the project site revealed that the Trump family had calmly took control of the work.
The original participating founders, encrypted entrepreneurs, Zach Volkman and Chis Hiro, were replaced as controlling parties through a Trump family with a 60 % stake.
This change has not been reported before.
Assad’s share: Millions flow to the Trump family
The revised property structure gives the Trump family a claim of 75 % of net revenue from symbolic sales and 60 % of the world’s ongoing operations, once the platform is operated.
This arrangement authorizes the Trump family approximately $ 400 million of fees.
After the original founders get their share, World Liberty will be left with only 5 % of $ 550 million collected to build the platform, according to Reuters accounts.
Central concerns: Is global freedom not really central?
The terms of the arrangement, especially the Trump family’s large share of revenues and the non -operating nature of the governance symbols, are concerned about the world’s commitment to Liberty to decentralization.
Experts in the DEFI space, including academics and analysts, note that the project structure is unusually concentrated compared to other leading Defi platforms.
“It is difficult for me to see any economic benefit to the owner of these symbols,” said Jim Angel, associate professor at Georgetown University, who has been widely written about the Davi list.
David Kraos, a financial professor at Market University, who recently published a study on the freedom world, argues that the project structure “greatly excludes public investors or holders of the distinctive symbol from any meaningful financial participation.”
A White House spokesman has referred inquiries about Trump’s global freedom, according to Reuters.
Despite the repeated requests, Trump’s chief legal official and the largest sons of the president, who are executives of the company, have not responded to the requests for comment.
Trump announced in January that the president’s investments, assets and commercial interests will be held in a fund managed by his children, and that he will not play any role in daily operations or decision -making.
The family company also retained a lawyer to work as an ethics advisor to “avoid any conflict of interests.”
Folkman and Hiro also did not answer questions from Reuters. However, World Liberty stated on X on March 14 that it was “Defi Project with a huge mission to build and give a democratic character to a new financial system for the benefit of millions.”
At a conference in February, Hiro stated that the plan was opening the investment encryption of ordinary Americans.
Donald Trump Junior, the son of the president, had previously complained that the family was excluded from traditional banking services since his first state.
“Head of encryption” and his family’s wealth
The participation of the Trump family in the world links the personal financial freedom of an American president sitting to a group of volatile and unorganized assets.
Trump has publicly announced his intention to be the “chief of encryption”, which encourages the adoption of cryptocurrencies in America.
He mentioned that he supports Crypto because it can improve the banking system and enhance the US dollar.
At the same time, the Trump family quickly created a great presence in the world of encryption, raising hundreds of millions of dollars.
It was reported that Trump’s Mimi currency has generated at least $ 349 million as fees for the main associated entities, according to a series of series.
After expanding the scope of the Crypto Holdings range, a company formed with Trump’s elderly people, Eric and Donald Trump Junior, recently obtained a minority stake in a newly formed Bitcoin product called American Bitcoin.
Eric Trump is scheduled to become the chief strategy official in the new company.
Fears of morals and conflicts of potential interests
Trump and his family’s possibility of abolishing restrictions led to criticism from political opponents and government ethics experts, who argue that he created a possible conflict in interests and opportunities for influence.
“I got the man responsible for his organization,” said Ross Delston, a former American banker organizer.
Delston also raised concerns about the purchase of the distinctive symbols of WLFI for Carrie, describing it as the “ideal car” for governments or a few to transfer money to the president.
World Liberty attracted rich investors, as approximately 70 % of the money collected from portfolios spent at least $ 100,000, and more than 50 % of $ 1 million or more purchases, according to Reuters analysis.
While these investors presented their names to the project, their identities are protected from the general view through the governor of anonymous encryption.
Many of the investors identified Reuters have been told that they were attracted to the distinctive symbol because they believed that Trump’s involvement would help her succeed.
Witkoff Contact: How everything started
The origins of Liberty are due to the intersection of two relatively unknown people in the encryption space and some of the most influential individuals in American policy.
Folkman and Herro managed to reach the Trump’s inner circle through the New York Pole of Real Estate, Steve Witkeov, a long -term friend of Trump and his envoy to the Middle East.
Witkoff stated that he got acquainted with the husband by one of his sons during a conversation about the emergence of the deal on the Crypto pod, hosted by the Trump family in September.
After meeting with the encrypted pioneers and hearing the difficulties of securing credit in traditional financing, Wittouf said he linked them to Trump.
He arranged a meeting with Donald Trump, his eldest son to Hiro and Folkman to display Davi’s chances. According to Witkoff, Trump was immediately captured.
A slow start, then an increase after Trump’s election
Despite Trump’s support, the distinctive symbol sales were initially late.
An American regulatory file dated October 30 revealed that the project has preceded only $ 2.7 million at that stage.
However, on November 25, less than three weeks after Trump’s election, Justin Sun, a Hong Kong -based encrypted businessman, announced an investment of $ 30 million in WLFI dollars, which the company said was the amount you need to start.
Next, Sun’s personal wealth in the plan rose to 75 million. As the largest individual investor, he also became a platform consultant.
A closer look at the world operations of Liberty
World Liberty stipulates the development of three basic products, including the “lending and borrowing” market and a personal financing application.
The company also plans to launch Stablecoin, known as USD1, with the support of assets such as US Treasury bonds.
CERTIK, a cybersecurity security company that reviews encryption projects, found that in late March, the basic coding of the contract was on Blockchain for the project under progress.
The Post Trump Family’s Crypto Fortune: World Liberty has been acquired over $ 400 million
