Trump earned more on cryptocurrency in a day than in his entire life on real estate
3 September 09:01
The wealth of the family of US President Donald Trump increased by $5 billion in just one day, after the start of public trading in their cryptocurrency WLFI on Monday, September 1. This was reported by "Komersant Ukrainian" with reference to The Wall Street Journal.
During the first hour of trading, the volume of transactions with WLFI on exchanges reached almost $1 billion. On the Binance platform, the token started at 30 cents, but later dropped to about 20 cents. At its peak, the value of the Trumps’ stake exceeded $6 billion.
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WLFI
The launch of the WLFI token on the open market has become analogous to an initial public offering (IPO) – now the cryptocurrency can be freely bought and sold like ordinary securities. Previously, WLFI holders who participated in private transactions with the World Liberty Financial startup were unable to exchange their tokens.
This launch is likely the biggest financial achievement of the president’s family since his second inauguration. The Trump family, including the head of state himself, controls almost a quarter of all WLFI tokens issued. Three of the president’s sons are co-founders of World Liberty Financial, and Donald Trump is listed as an “honorary co-founder.”
According to the terms of the launch, the tokens of the founders and the project team remain blocked for sale. However, the auction made it possible to determine the real market value of their assets for the first time.
In the summer, the company took over a public firm and raised $750 million to buy out the cryptocurrency. According to the WSJ, a similar scheme with the same buyer and seller side could bring the Trump family about $500 million.
According to preliminary estimates, WLFI has become the most valuable asset in the Trumps’ portfolio, even more expensive than their traditional real estate.
In addition, the family controls about 80% of the $Trump meme coin worth several billion dollars, as well as more than half of the shares in the public company Trump Media, which operates the Truth Social social platform and owns crypto assets. This package alone is estimated at $2.5 billion.
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