Former CFTC Chairman: "Trump's Cryptocurrency Project Poses 'Corruption' Risks"

Uk Jin

Summary

Former CFTC Chairman Tim Massad expressed concerns that the Trump cryptocurrency project poses significant risks of conflict of interest and corruption.
According to the white paper of World Liberty Financial, the Trump family reportedly holds a 75% stake in net profits and 60% of the holding company.
Former Chairman Massad pointed out that there is a potential for conflict as people who want to curry favor with the administration might purchase the coins.

Concerns have been raised about a cryptocurrency project related to President Donald Trump.

On the 25th (local time), former Commodity Futures Trading Commission (CFTC) Chairman Tim Massad, in an interview with BeInCrypto, commented on the cryptocurrency businesses related to President Trump, World Liberty Financial (WLFI) and Official Trump (TRUMP), stating, "It is clearly wrong for a sitting U.S. president or his family, who can directly dictate policy and issue related executive orders, to be involved in commercial ventures."

According to the white paper of World Liberty Financial, the Trump family holds a 75% stake in the net profits of World Liberty Financial and a 60% stake in the holding company. Additionally, in the case of Official Trump, President Trump and his associates own most of the circulating supply.

Former CFTC Chairman Massad further noted about World Liberty Financial, "There is a significant risk of conflict of interest and corruption when the president and those associated with him sell cryptocurrencies. World Liberty Financial and meme coins are examples of this," adding, "There is a potential for ongoing conflicts because people who want to curry favor with the administration might buy the coins."

WLFI

TRUMP