Join Our Telegram channel to stay up to date on breaking news coverage
The Trump family has quietly decreased its stake in the crypto platform World Liberty Financial (WLF) amid growing scrutiny of the Trumps’ crypto involvement.
According to the June 19 report by Forbes, DT Marks DeFi LLC, an umbrella company that is controlled by the Trumps, held a 75% stake in WLF as of December 2024.
But WLF’s website said the company owned “approximately 60%” as of January. Then, the stake was reduced to 40% at some point after June 8, the report said.
It’s unclear whether the move was profitable for the Trump family. An analysis by Forbes suggested the proceeds from this sale could amount to millions of dollars.
World Liberty Financial Starts Issuing Stablecoin As GENIUS Act Progresses
The Trump family is active in numerous crypto ventures. Most recently, their WLF company started issuing its USD1 stablecoin, a crypto pegged 1:1 to the US Dollar. This is as the landmark GENIUS Act progresses through the legislative process, recently passing the US Senate with overwhelming bipartisan support.
USD1 had a strong start, with the President of the United Arab Emirates (UAE) agreeing to use the stablecoin for a $2 billion investment into leading crypto exchange Binance.
On June 11, USD1 was also minted on the Tron blockchain, which is founded by controversial crypto billionaire Justin Sun.
The takeover continues 🦅☝️
The first USD1 minted on Tron—just the beginning of something much bigger.
Appreciate the support @justinsuntron. Let’s bring USD1 everywhere.https://t.co/flQVafe9Ey— WLFI (@worldlibertyfi) June 11, 2025
That’s after Sun became the largest holder of the Official Trump (TRUMP) meme coin and attended an exclusive event hosted for the token’s top holders earlier this year.
Currently, the stablecoin is the fifth largest stablecoin by market cap with a total valuation of over $2.2 billion, according to data from CoinMarketCap.
Trump’s Conflicts Of Interest Could Drag On GENIUS Act Momentum
Trump is now calling for lawmakers to quickly approve the GENIUS Act and send it to his desk so that he can sign it into law.
But USD1 and the Trump family’s other crypto ventures have been flagged for potential conflicts of interest because of his ability to influence US crypto regulation. As such, the GENIUS Act is expected to face pushback from some lawmakers during its House vote.
Related Articles:
Best Wallet – Diversify Your Crypto Portfolio
- Easy to Use, Feature-Driven Crypto Wallet
- Get Early Access to Upcoming Token ICOs
- Multi-Chain, Multi-Wallet, Non-Custodial
- Now On App Store, Google Play
- Stake To Earn Native Token $BEST
- 250,000+ Monthly Active Users
Join Our Telegram channel to stay up to date on breaking news coverage
Credit: Source link
