Trump-Affiliated World Liberty Financial Defies Ethics Concerns, Raises $550 Million

Ivan Crnogatić

April 29, 2025

World Liberty Financial (WLFI), a cryptocurrency venture run by the Trump family, secured over $550 million from investors worldwide, but concerns about conflicts between presidential power and private business interests remain.

What Happened: WLFI is 60% owned by a Trump family entity and has aggressively courted investors with deals that multiple industry executives described as ethically questionable, according to an investigation published on Tuesday by The New York Times.

The company approached at least five crypto startups offering “partnerships” that required them to purchase between $10 million and $30 million of World Liberty’s coins in exchange for smaller investments from Trump’s firm.

“It’s a black spot on our industry,” said Andre Cronje, founder of SonicLabs, which rejected World Liberty’s pitch.

Anyone accepting such deals would “obviously think they’re going to make money because it’s the officially endorsed Trump project.”

Several startups declined these arrangements, considering them “dishonest” according to Dominik Schiener, founder of the IOTA Foundation.

World Liberty successfully secured deals with other firms, including Ondo Finance, a Peter Thiel-backed startup that later donated $1 million to Trump’s inauguration.

The company’s spokesman, David Wachsman, defended these arrangements as “standard industry practices” that establish “skin in the game for all parties,” while denying they constituted “one-sided payment for services rendered.”

Why It Matters: World Liberty’s rise coincides with Trump’s reversal on cryptocurrency.

After previously dismissing digital assets as having value “based on thin air,” Trump has filled his administration with industry supporters, disbanded a crypto crimes task force, and announced a federal cryptocurrency stockpile that temporarily boosted the value of World Liberty’s holdings by $33 million.

The company has attracted numerous foreign investors from Singapore, Hong Kong and the United Arab Emirates, creating a legal avenue for overseas entities to potentially curry favor with the president.

One significant investor is Justin Sun, a Chinese billionaire facing SEC fraud charges whose case was recently suspended as the agency explores “a potential resolution.”

Eric Trump, who runs the family business with his brother Donald Trump Jr., called World Liberty “one of the more successful things we’ve ever done.”

The Trump family received 22.5 billion units of the company’s cryptocurrency -- worth approximately $1.1 billion on paper.

The company’s daily operations are managed by three partners with mixed track records: Zachary Folkman, who once ran a company called Date Hotter Girls; Chase Herro, who previously promoted a cryptocurrency that imploded; and Zach Witkoff, son of Trump’s Middle East envoy Steve Witkoff.

A Trump spokeswoman told the New York Times there are “no conflicts of interest” because the president’s assets are “in a trust managed by his children,” though this trust directly benefits President Trump.

Image created using artificial intelligence.

Recommended

This Gold Miner Has the Map, the Metal, and the Momentum - Ad

[Special Invitation] a "Must Have" for Your Trader Toolkit - Ad

Analysts Project This Stock Could Jump to $14 a Share. You Can Still Invest for $3.50. - Ad

Popular

Jim Cramer Expects Palantir To Reach New All-Time High

Market analysts and financial commentators provide crucial guidance in the volatile investment landscape. Cramer says no to VKTX, but expects PLTR to go up.

Third Richest Woman In The World Eyes New York Giants Stake For Future Growth

One of the richest women in the world could have her eyes on more sports team ownership with a stake in the New York Giants.

Discover 3 Stocks Projected to Dethrone Nvidia (NVDA)

Discover 3 Stocks Projected to Dethrone Nvidia (NVDA) - Ad

Futurist and Stock Analyst, Eric Fry, published a brand-new research report naming three outsider stocks have the power to completely disrupt the "seemingly invincible" Mag 7. For the time being, this research report is available through this page - at no charge.

Social Security whistleblower who claims DOGE mishandled Americans' sensitive data resigns from post

WASHINGTON (AP) — A Social Security official who has filed a whistleblower complaint alleging the Department of Government Efficiency officials Americans' sensitive information says he's resigning his post because of actions taken against him since making his complaint.

Takeaways from a hunt for 'secret' fresh water under the North Atlantic seabed

ABOARD LIFTBOAT ROBERT, North Atlantic (AP) — It turns out the Continental Shelf has been holding a secret from the ages. Beneath the sea floor off the U.S. northeast lies an enormous reserve of fresh water whose existence was long unknown, then was suspected and now is confirmed.

Gold Alert: Extraordinary Upside in One Stock (Not a Miner)

Gold Alert: Extraordinary Upside in One Stock (Not a Miner) - Ad

Gold has hit all-time highs, breaking $3,600 an ounce - but history shows it could be on the verge of its biggest bull run in over half a century... triggered by a likely major event, eerily similar to what happened in the 1970s. (It's NOT inflation or anything you're likely expecting.) Now, a top analyst says you can capture ALL of the upside without touching a risky miner or a boring exchange-traded fund. He sees extraordinary potential gains long term with very little risk.

Trump Dispels Health Rumors With Golf Outing, Vance Says President Is In 'Incredibly Good Health'

President Donald Trump was seen golfing at Trump National Golf Club in Sterling, Va., on Saturday, countering speculation about his health.

Trump to host top tech CEOs — except Musk — at White House dinner Thursday

WASHINGTON (AP) — will host a high-powered list of tech CEOs for a dinner at the White House on Thursday night.

From Ore to Gold Bars-This Nevada Mine Is Already Producing

From Ore to Gold Bars-This Nevada Mine Is Already Producing - Ad

Most juniors explore...Few actually produce. This one's already pouring gold thanks to infrastructure that would cost tens of millions to build today. With major land holdings and room to scale, it's one to watch. Discover the little known gold company that's already producing.

Accenture CEO Julie Sweet Believes This Is The One Thing You Shouldn't Do When Offered A Major Promotion

Accenture CEO Julie Sweet advises to never let self-doubt answer first when opportunity knocks. Confidence and humility are key in leadership.

Kevin O'Leary Says Cracker Barrel's Viral Rebrand Proves 'Bad News' Can Create 'More Buzz' Than A Billion-Dollar Ad Spend

Cracker Barrel's $700M rebrand sparked backlash and a 15% stock drop, but some, like Kevin O'Leary, say the buzz could be marketing gold.

This Isn't Their First Gold Win-And Their Next Big Project Could Be Even Bigger

This Isn't Their First Gold Win-And Their Next Big Project Could Be Even Bigger - Ad

The team behind this Nevada gold miner has built billion-dollar gold companies before-and they're at it again. Drilling is already underway on a 27-square-mile land package, with nearly 2M ounces already defined...with more to come. With production live and expansion in motion, this sets up to be their next big win.

Bitcoin, Ethereum, XRP, Dogecoin Decline Again And 'Clocked Out Early'

Cryptocurrency markets are trading lower early Friday morning ahead of the release of new inflation data.

China protests Taiwan foreign minister's visit to the Philippines

MANILA, Philippines (AP) — Taiwan’s foreign minister has flown to the Philippines as head of a high-level delegation of investors, two senior Philippine officials said Saturday, prompting a protest from China and a warning to Manila “not to play with fire.”

Is This Elon's Worst Nightmare?

Is This Elon's Worst Nightmare? - Ad

Elon's empire looks doomed - crashing sales, lost tax credits, and media backlash. But behind the scenes, Tesla is about to unleash a breakthrough Forbes calls a "multi-trillion-dollar opportunity." It's not the end - it's the start of a 25,000% AI comeback.

Bitcoin, Ethereum Brace For US Labor Data As Experts Warn Of Cross-Asset Volatility

Markets prepare for US labor data, a critical input for Fed policymakers. Figures will impact job market, inflation, and asset values globally.

US media quickly forced to revisit a thorny question: How should a president's health be covered?

Early in Donald Trump's Tuesday, Fox News' Peter Doocy asked a question that surely baffled people who avoided social media for Labor Day.

This Gold Miner is a Strategic Asset in the Making

This Gold Miner is a Strategic Asset in the Making - Ad

With central banks increasing gold reserves and geopolitical tensions rising, U.S.-based producers are back in focus. This Nevada operation is already producing, refining, and expanding-with infrastructure others would need years to build. It's early. It's active. And it may be more important than most realize.

Top Japanese beverage giant Suntory's chief resigns as he faces a drug probe

TOKYO (AP) — Takeshi Niinami, chief executive of Japan’s major beverage maker Suntory, resigned Tuesday to take responsibility for being under investigation for alleged possession of an illegal drug.

Mark Zuckerberg Once Gave His Palo Alto Neighbors Noise-Cancelling Headphones, Wine And Doughnuts For This Reason

Mark Zuckerberg's neighbors frustrated by noise and disruption caused by his $110M renovation project. Gifts and meetings offered as appeasement.

[Revealed] Trump's Next AI Executive Orders?

[Revealed] Trump's Next AI Executive Orders? - Ad

A White House insider with direct ties to Trump's inner circle just revealed what he calls "Manhattan II" - a potential $2.2 trillion AI initiative set to launch as soon as Oct 15. He says this could mirror past U.S. projects that minted fortunes - with small firms soaring 5,000% to 10,000% over two decades. And now he's giving away his #1 stock pick for free before the deadline.

Mark Cuban Once Dubbed Dogecoin 'Real Money,' While Kevin O'Leary Brushed It Off As 'Gambling' — Whose Advice Would Have Netted You More Profit

Mark Cuban and Kevin O’Leary, both prominent panelists on the reality TV show "Shark Tank," have been close friends for a long time, yet their opinions on the meme cryptocurrency Dogecoin (CRYPTO: DOGE) have yet to align.

Gen Z Banking On Deals And Dupes For 2025 Holiday Season As The Young Plan Steep Spending Cuts

Holiday shoppers plan to spend $1,552 on gifts, travel, and entertainment, 5% less than last year, with Gen Z cutting spending by 23%. PwC survey shows price-conscious mindset and impact of tariffs on consumer behavior.

This Gold Miner Has the Map, the Metal, and the Momentum

This Gold Miner Has the Map, the Metal, and the Momentum - Ad

JPMorgan is forecasting that gold will push past $4,000, and this Nevada operation is positioned to benefit. Historical estimates show its property could hold around 1.8 million ounces of measured and indicated gold, backed by infrastructure and billionaire investors. The company's already producing, refining gold onsite and looking to expand. That's not a dream-stage story-that's a head start.

Trump Says Russian Drone Incursion Into Poland Possibly An Error: 'Could Have Been A Mistake'

Trump downplays Russian drones entering Polish airspace, implying it was unintentional. European leaders fear it was deliberate while NATO responds.

Utah Governor After Kirk Killing: 'Social Media Is A Cancer On Our Society Right Now'

Utah Gov. Spencer Cox urged unity after Charlie Kirk's killing, warning that "social media is a cancer on our society right now."

[Special Invitation] a "Must Have" for Your Trader Toolkit

[Special Invitation] a "Must Have" for Your Trader Toolkit - Ad

Imagine predicting where a stock is headed-days before it happens. A new signal tech makes it possible, showing clear buy/sell setups with astounding accuracy. Join the free training and add this "must have" tool to your trading kit.

This Rare Pattern Just Appeared For Only The 4th Time In Bitcoin's History — And Each Time It Preceded A 'Powerful Move'

A rare futures trading pattern is emerging as a potential marker for Bitcoin's (CRYPTO: BTC) next move, according to Marcus, markets researcher at Delphi Digital.

Tesla China Sales Fall 10% To 57,152 Units In August, Marking 6th Decline In 2025

Tesla sales in China fell 9.93% in August amid lackluster global sales and Model Y L receiving 120,000 orders in China.

Analysts Project This Stock Could Jump to $14 a Share. You Can Still Invest for $3.50.

Analysts Project This Stock Could Jump to $14 a Share. You Can Still Invest for $3.50. - Ad

The AI company making heart disease easier to detect is offering investors $3.50 investment units that include one convertible preferred share and one warrant, providing investors with access to 2 common shares. Based on analyst 1- year projections, that amounts to a near-term 500% return potential.

Dell Struggles To Protect Margins As Supply Chain Costs Mount

Dell's revenue surged on strong AI server sales, but margin pressure from supply chain costs and aggressive pricing weighed on guidance.

LSD shows promise for reducing anxiety in drugmaker's midstage study

WASHINGTON (AP) — reduced symptoms of anxiety in a midstage study published Thursday, paving the way for additional testing and possible medical approval of a that has been banned in the U.S. for more than a half century.

Discover 3 Stocks Projected to Dethrone Nvidia (NVDA)

Discover 3 Stocks Projected to Dethrone Nvidia (NVDA) - Ad

Vanuatu delays $330M Australia security pact over Chinese funding concerns

MELBOURNE, Australia (AP) — is not yet ready to sign a security and economic treaty with over concerns the bilateral pact could restrict the South Pacific island nation’s ability to secure infrastructure funding from a third country, Vanuatuan Prime Minister Jotham Napat said on Tuesday.

Shortage of homebuyers forces many sellers to lower prices or walk away as sales slump drags on

LOS ANGELES (AP) — Skyrocketing housing values and a shortage of homes on the market gave homeowners the upper hand for years when it came time to sell. That’s no longer a given.

Gold Alert: Extraordinary Upside in One Stock (Not a Miner)

Gold Alert: Extraordinary Upside in One Stock (Not a Miner) - Ad

CBS News' new ombudsman has background and duties that differ from the job's traditional definition

NEW YORK (AP) — CBS News has a new ombudsman assigned to look into public complaints, but the job being assumed by Kenneth Weinstein bears little resemblance to how this watchdog role has traditionally operated in journalism.

Elizabeth Warren Explodes Over News Of Paramount Skydance's Planned Bid For Warner Bros. Discovery: Links Trump To 'Dangerous Concentration Of Power'

U.S. Senator Elizabeth Warren blasted Paramount Skydance's reported bid for Warner Bros. Discovery, calling it a "dangerous concentration of power" tied to past Trump-era approvals, even as shares of both media companies surged on the takeover speculation.

From Ore to Gold Bars-This Nevada Mine Is Already Producing

From Ore to Gold Bars-This Nevada Mine Is Already Producing - Ad

Von der Leyen proposes bolder EU sanctions against Israel over the war in Gaza

ANTWERP, Belgium (AP) — European Commission President Ursula von der Leyen broke Wednesday with her pro-Israel stance and announced plans to seek sanctions and a partial trade suspension against Israel over .

Trending Now