"US President Donald Trump and his family are pocketing billions from cryptocurrency ventures since his return to the White House, capitalizing on a loosely regulated market he has actively shaped. From meme coins to stablecoins digital currencies designed to stay at a fixed value the financial windfall is estimated at over $5 billion (4.25 billion) on paper, sparking accusations of unprecedented profiteering by a sitting president."
"Two companies drive the Trump family's crypto profits: World Liberty Financial (WLF), a decentralized finance platform that lets users with $WLFI tokens help shape the platform's lending rules, and American Bitcoin Corp. (ABTC), a Nasdaq-listed bitcoin mining company. WLF has earned millions from $WLFI token sales tied to Trump's name, while ABTC, backed by his sons, holds significant bitcoin assets and saw its stock jump 110% on its debut, before settling 16.5% higher than the opening price of $6.90."
"Ross Delston, an independent American attorney and expert witness, thinks the crypto ventures could offer unscrupulous actors the chance to buy influence with Trump just by investing in his digital coins. "This is a new avenue to allow the President to get money from anyone, including foreign individuals and states that would be prohibited by US [election] campaign laws, or someone convicted of a crime or under investigation," Delston told DW."
Donald Trump and his family have reportedly accumulated over $5 billion on paper from cryptocurrency ventures since his return to the White House, leveraging a loosely regulated market he influenced. Two companies — World Liberty Financial (WLF), a decentralized finance platform tied to $WLFI tokens, and American Bitcoin Corp. (ABTC), a Nasdaq-listed bitcoin miner backed by his sons — drive the gains. WLF earned millions from token sales while ABTC holds significant bitcoin and saw a strong stock debut. A Trump business entity reportedly owns 60% of WLF and stands to receive 75% of coin-sale revenue, raising conflict-of-interest and influence concerns.
Read at www.dw.com
Unable to calculate read time
Collection
[
|
...
]