Trump Family's Crypto Venture: World Liberty's Insiders Hold the Key

World Liberty Financial, a cryptocurrency venture initially launched to offer decentralized financial services, is now controlled by the Trump family, who took over governance in January. Despite raising $550 million, the project remains undeveloped and unusually centralized, with the Trump family entitled to 75% of net revenues.

World Liberty Financial, a cryptocurrency venture aimed at democratizing finance, recently raised significant funds but remains largely undeveloped. The project, launched with the goal of providing decentralized financial services, has come under the control of the Trump family, securing a large stake in the company's governance.

Despite raising $550 million through sales of governance tokens, which are non-tradeable and primarily benefit insiders, the venture still lacks a public platform. The Trump family controls 75% of net revenue, positioning the project as a more centralized operation than typical for the decentralized finance industry.

Industry experts and academics criticize the project's insider-focused structure, noting the limited financial participation available to public investors. Meanwhile, the political and ethical implications of the Trump family's involvement with, and financial gain from, the crypto sector continue to stir controversy and debate.

(With inputs from agencies.)