Summary
- Bloomberg reported that the Trump family is rapidly accumulating assets through a cryptocurrency brand licensing business.
- It is estimated that the Trump family's cryptocurrency venture profits have reached at least $620 million following the relaxation of overseas transaction regulations.
- The Trump family's holdings of WLFI tokens are valued at around $2 billion as of June, with trading volume rising following the recent launch of the USD1 stablecoin.
According to Bloomberg on the 2nd (local time), President Donald Trump of the United States and his family are reportedly earning significant profits from cryptocurrency businesses.
The outlet stated, "Unlike their past real estate development, the Trump family has quickly accumulated assets through licensing agreements leveraging the 'Trump' brand, without the complex procedures that usually take years," adding, "In particular, this business model has accelerated even further through the cryptocurrency industry."
It also reported, "Since the launch of the Trump administration's second term, with relaxed regulations on overseas transactions, the Trump family's crypto venture profits have reportedly reached at least $620 million."
The Trump family-led cryptocurrency project 'World Liberty Financial (WLFI)' sold about $550 million worth of tokens by March this year, of which $390 million is known to have been allocated to the Trump family.
Currently, the Trump family holds a total of 22.5 billion WLFI tokens, valued at approximately $2 billion as of June. WLFI recently launched its native stablecoin 'USD1', and with Abu Dhabi-based investor MGX announcing a $2 billion investment in Binance using WLFI, the circulation of USD1 has sharply increased.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
