""It's no secret that President Trump, once a Bitcoin skeptic, has become a full-blown convert and that he and his family are using crypto to enrich themselves. What far fewer people understand is how Trump's crypto ventures are structured on a corporate level. On the latest episode of Crypto Playbook (available on Spotify, Apple, and YouTube), Fortune journalist Ben Weiss-who has covered the Trump crypto empire from the inside-broke down how it is in fact a stable of separate businesses.""
""The first of these businesses launched in December of 2022, well before Trump embraced crypto more broadly at a Bitcoin event on the campaign trail. It consisted of Trump NFTs and, following his election last November, has expanded to encompass Trump's personal memecoin, which currently has a market cap of over $1 billion. All of these operations are overseen by Bill Zanker, a longtime confidante and business partner of the President.""
""The second Trump crypto business to emerge, and by far the most significant, is World Liberty Financial, which the family launched last fall. Its assets include the token WLFI, whose supply is currently worth around $3 billion, as well as a stablecoin called USD1. The latter token was used by a U.A.E. firm to make a $2 billion investment in the crypto firm, Binance.""
Trump and his family operate a multi-entity crypto ecosystem organized as separate but interrelated businesses. One unit began in December 2022 offering Trump NFTs and a personal memecoin with a market cap over $1 billion, overseen by Bill Zanker. A larger entity, World Liberty Financial, launched last fall and holds the WLFI token (supply worth around $3 billion) and a USD1 stablecoin. The USD1 stablecoin was used by a U.A.E. firm for a $2 billion investment in Binance. Day-to-day operations of World Liberty involve crypto veterans while family members retain major decision-making influence.
Read at Fortune
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