Trump family quietly reduces crypto stake in World Liberty

One of Trump’s family companies has discreetly reduced its stake in its main crypto venture, World Liberty Financial. In only 11 days, its parent company, DT Marks DEFI LLC, lowered its ownership from 60% to approximately 40%. With the stablecoin enterprise blowing up, the Trumps might have wanted to take some of the money that was on the table. On June 5, Circle , a stablecoin miner that is not connected to Trump, saw its shares rise, almost tripling in value on the first day after going public. Trump’s stablecoin business could be worth $1.7 billion right now if it were the same size as Circle. However, it’s hard to say how much the Trumps might have gotten in a sale because crypto stock is so volatile. But if the business had a comparable valuation as Circle on Friday, the Trump family might have made $190 million, with the president getting about $135 million of that. The growth of Trump’s crypto businesses Donald Trump unveiled World Liberty Financial in September, when he was entering the final stretch of his presidential campaign. The project offered vague promises of a “financial revolution” and hawked tokens that could not be resold. According to reports, after the first $30 million, 75% of the proceeds went toward Trump and his family members. POTUS’s family set up a number of businesses tied to crypto during his time in office. The president changed the name of a company he set up in 2016 from DT Tower II LLC to DT Marks DEFI LLC. Donald Trump owned 100% of DT Tower II LLC, but his children and grandchildren, most likely Don Jr., Eric, and Barron, took a 30% stake in DT Marks Defi LLC, leaving their father with 70%. As of the end of December, a financial disclosure report that summed up the president’s business said that DT Marks Defi LLC owned 75% of World Liberty Financial. However, in the new year, things changed. Before the inauguration on January 20, business really took off. In just 29 hours, the Trump family and their friends sold more than $200 million worth of World Liberty tokens. The way the business was set up also changed. On January 24, World Liberty’s website showed that DT Marks DEFI LLC owned “approximately 60%” of World Liberty Financial. This was less than the 75% that the Trumps were said to have held just a few weeks before. Later in March, World Liberty said that it had sold tokens worth $550 million. After about a week, the company announced another project: a crypto that would follow the US dollar. A company set up by the president of the United Arab Emirates agreed to use that stablecoin to invest $2 billion in a big crypto exchange. This gave the coin a great start. Trump is still in the crypto industry, making the most out of it. Other businesses were set up in July 2024. The three businesses in Delaware use the initials of Don Jr., Eric, and Barron. The names of the businesses were DJT Jr DEFI LLC, ET DEFI LLC, and BWT DEFI LLC. POTUS is already asking members of the House of Representatives to pass the GENIUS Act as soon as possible. The Senate passed the bill on Tuesday with a vote of 68 to 30. As reported by Cryptopolitan, POTUS called the bill “incredible” and said it would make “America the undisputed leader in digital assets.” It would set up a government framework for creating and trading stablecoins. Cryptopolitan Academy: Coming Soon – A New Way to Earn Passive Income with DeFi in 2025. Learn More

Source: Cryptopolitan