Editor's PiCK
Trump Family Acquires World Liberty Financial… "From Ambassador to Major Shareholder"
Summary
- The Trump family announced that they have acquired World Liberty Financial, becoming the largest shareholder.
- The Trump family is expected to secure significant profits through token sales and operating profits.
- By holding 22.5 billion of World Liberty Financial's token supply, the acquisition will yield a profit amounting to $400 million.
The family of President Donald Trump has effectively taken control of the decentralized finance (DEFI) project World Liberty Financial (WLFI).
According to a Reuters report on the 31st (local time), World Liberty Financial established a new corporation called WLF Holdco LLC in January to handle development and operations. Additionally, Eric Trump, the second son of President Trump, was abruptly added to the board of directors.
Simultaneously with the establishment of this company, DT Mask DEFI LLC, an affiliate of the Trump family, acquired a 60% stake, surpassing the previous major shareholders and co-founders of World Liberty Financial, Zack Fokman and Chase Herro, to become the largest shareholder.
The Trump family is expected to receive 75% of the net profit and 60% of the operating profit from the token sales of World Liberty Financial. Previously, in mid-March, World Liberty Financial raised $550 million through token sales. As a result, the Trump family will receive $400 million.
Meanwhile, the Trump family currently holds 22.5 billion of the 100 billion World Liberty Financial tokens in supply.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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