Donald Trump Jr. Defends World Liberty Financial
At the Token2049 conference in Singapore, Donald Trump Jr. defended World Liberty Financial against allegations of a conflict of interest, referring to the concerns as “complete nonsense.” The eldest son of former President Trump expressed his belief that few people would suspect his father is involved in scrutinizing blockchain transactions for favoritism. Trump Jr., who co-founded World Liberty Financial, was joined by CEO Zach Witkoff, whose father, Steve Witkoff, serves as the U.S. Special Envoy to the Middle East. During their keynote address, both executives clarified that their organization is strictly non-political, despite its connections to the Trump administration as it seeks to expand its global reach and venture into debit payments and tokenized commodities.
World Liberty Financial Overview
Established in September 2024, World Liberty Financial launched its stablecoin, pegged to the U.S. dollar, in March 2025. This USD 1 token derives its value from short-term U.S. government treasuries and comes along with a governance token known as WLFI. Notably, Trump family members and an associated entity called DT Marks DEFI LLC are major beneficiaries of the company’s revenue streams while holding substantial quantities of WLFI tokens. It’s important to note that neither Donald Trump nor his family occupy any formal positions within the organization.
Trump Family’s Cryptocurrency Ventures
The Trump family’s cryptocurrency ventures are extensive, exceeding a valuation of $1.2 billion across various projects. As of June, former President Trump owns 15.75 billion WLFI tokens, equating to a 15.75% stake in the initiative, with disclosed earnings from World Liberty Financial amounting to $57.4 million in the previous year. Additionally, his NFT collections contributed approximately $1.16 million to his income; however, these figures do not reflect the earnings from the $TRUMP meme coin, which the Trump enterprises control at an 80% stake.
Beyond World Liberty Financial, the Trump family’s cryptocurrency endeavors continue to flourish. Their venture, American Bitcoin, co-founded by Eric Trump and supported by Donald Trump Jr., saw a 110% increase upon its debut in September after merging with Gryphon Digital Mining, initially valuing their collective investment at $2.6 billion, though it later settled at around $1.5 billion. American Bitcoin operates about 6,000 mining rigs and is moving forward with a $2.1 billion stock offering to enhance its operations.
Challenges and Controversies
Trump Media & Technology Group, which raised $2.5 billion to establish a Bitcoin treasure trove, currently boasts around 18,430 BTC totaling roughly $2.1 billion. However, while Bitcoin’s market has grown by 10.6% over the past six months, TMTG’s shares have dropped by 47% during the same timeframe.
In July, Donald Trump Jr. acquired 350,000 shares of Thumzup Media Corporation for approximately $3.3 million, which later merged with DogeHash Technologies to form one of the largest Dogecoin mining platforms globally, anticipated to operate over 4,000 mining rigs by the year’s close.
Democratic lawmakers, including Elizabeth Warren and Maxine Waters, have initiated inquiries into World Liberty Financial, labeling its operations as a significant conflict of interest that could impact cryptocurrency policies. The House Committee on Financial Services Democratic Caucus criticized Trump, asserting that he has exploited the lack of oversight he fostered while advocating for risky digital currencies.
Trump’s Crypto Ties and Family Wealth
According to Citizens for Responsibility and Ethics in Washington, Trump’s extensive crypto ties, which involve partnerships with foreign entities, exemplify unprecedented conflicts. Their research has unearthed over 3,700 potential conflicts during Trump’s previous administration, indicating greater opacity in the current situation than before. A recent assessment by The Washington Post revealed that around 20% of Trump’s current advisors are active cryptocurrency holders.
Trump’s youngest son, Barron, has reportedly amassed a net worth of $40 million through the family’s crypto-related activities, highlighted in World Liberty Financial’s promotional materials as a “Web3 ambassador.” The family’s investment portfolio encompasses NFT trading cards, two meme coins, the Truth Social Bitcoin ETF, and a newly formed $6.42 billion digital asset treasury partnership with Crypto.com. Trump’s crypto investments now comprise approximately 9% of his estimated $6 billion wealth, marking a notable shift as digital assets gain a more significant role amid the decline of his real estate holdings.
