Trump-Family Investments In Virtual Currency Worth Billions

Reuters reported this month that the Trump family’s crypto ventures, led by WLF, have generated billions of dollars in paper gains and become one of the largest sources of wealth tied to the president and his family. World Liberty announced the company was creating a “bonus pool” for the event the company and quoted Zach Witkoff, Steve Witkoff’s son and CEO of World Liberty Financial. “We believe this is the future of finance, and we’re excited to partner with UFC,” he said, “which has done more than any organization to modernize the business of sports”. World Liberty was dogged by controversies surrounding its digital “governance token”, a type of crypto it sold, and is in litigation with Justin Sun, the crypto tycoon who was an early buyer of the tokens. He sued the company this year alleging it improperly froze his tokens, and World Liberty sued him for defamation. The USD1 stablecoins are separate from the tokens and are tradable digital assets that are backed by dollar reserves. The firm has also applied for a banking license from the Office of Comptroller of the Currency.