"On Monday, President Trump's family earned some $5 billion — at least on paper — as their latest cryptocurrency venture launched. Now a "token" from World Liberty Financial, the crypto business co-founded last year by Trump and his sons, is trading publicly. This launch highlights the extraordinary degree to which Trump and his family are using the Oval Office to personally profit."
"The president reported income of more than $630 million last year, including $57 million from cryptocurrency sales, before launching a "meme coin" earlier this year. (He has also licensed his name to sell sneakers, watches, guitars, and Bibles.) Now anyone can buy or sell this "$WLFI" token — giving those wishing to curry favor with the president another avenue to directly contribute to his personal finances."
President Trump's family saw an estimated $5 billion on-paper gain when their World Liberty Financial cryptocurrency token began trading publicly. The WLFI token allows public purchase and sale, creating a direct channel that can funnel funds to the president's personal network. The president reported over $630 million in income last year, including $57 million from cryptocurrency sales, and previously launched a meme coin and licensed his name for consumer goods. Critics warn the token lowers barriers for influence, including by questionable actors, while supporters and the White House deny conflicts of interest.
Read at www.npr.org
Unable to calculate read time
Collection
[
|
...
]