Trump Family Wealth Now More Tied to Crypto Than Real Estate

President Trump’s family now reportedly has more of its worth in cryptocurrency than real estate after Trump-controlled World Liberty Financial started making its token tradable on Monday.The company put almost 25 billion WLFI tokens into circulation. The launch temporarily gave the Trump family as much as $5 billion in additional paper wealth, according to the Wall Street Journal.The launch is “setting a new standard for financial freedom; built on trust, speed, and U.S. values,” Eric Trump said in an X post. “This is a huge moment for the future of money!”The Trump family owns nearly a quarter of all WLFI tokens in existence.The price debuted at about 28 cents and quickly rose to 31 cents but has since dropped dramatically as people sold their positions in the hours after trading began. More than $2 billion worth of the tokens traded hands on the first day. The price was down nearly 30 percent by Tuesday morning, cutting into the Trump family’s value. World Liberty Financial has proposed a program to buy and burn some of the tokens, which means they would be taken permanently out of circulation. That would be expected to help stabilize the token’s price.The Trumps and other company founders are not yet able to sell their own tokens, but allowing other people to buy and sell them puts a real-world valuation on the tokens.Mr. Trump helped launch World Liberty Financial a year ago, while campaigning to return to the White House. He is listed as a co-founder “emeritus” on the company’s website. His sons, Eric, Donald Jr., and Barron, are listed as co-founders.The Trump family will continue to make money post-launch by earning a percentage on each token transaction, no matter what the price is at the time.The Trump family has launched several crypto ventures in the past year. They include a stablecoin and digital-asset funds, Bloomberg reported.Among them is a memecoin called $Trump that is worth several billion dollars but is down dramatically in value since its launch. That left people who got in at the high prices with much of their investment wiped out.Mr. Trump has pushed the crypto industry since returning to office and has sought to ease regulation on the speculative industry.

Trump Family Wealth Now More Tied to Crypto Than Real Estate

More from the New York Sun

A Tale of Two Harvards

A Japanese Defense Buildup Could Form a Regional Counterweight to Communist China

Belichick’s Hall of Fame Snub Exposes the NFL’s Uncomfortable Cheating Debate

More from the New York Sun

A Tale of Two Harvards

A Japanese Defense Buildup Could Form a Regional Counterweight to Communist China

Belichick’s Hall of Fame Snub Exposes the NFL’s Uncomfortable Cheating Debate

U.S. Borrows Itself Into a Corner

US Military Catches Sanctioned Oil Tanker in Indian Ocean Weeks After It Left Venezuela

King Charles Pledges ‘Support’ for Police Investigation Into Andrew Mountbatten-Windsor

Families of Druze Children Killed in Hezbollah Rocket Attack on Soccer Field Sue Terror Group for $26 Million

Trump Aims for Win in Stormy Daniels Case: Will Appeals Court Overrule Judge, 92, Who Refuses To Move Prosecution to Federal Court?