🔥Early Access: Land A High Paying Web3 Job In 90 Days LEARN MORE

Trump’s crypto project promises 75% profit for his family, shows doc

In this post:

  • Trump’s WLF project allows the family to pocket 75% of net revenue.
  • WLF to raise $300 million at a $1.5 billion valuation with only $12.9 million in tokens sold so far.
  • WLF aims to operate as a crypto bank for borrowing, lending, and investing, holding $30 million in reserves.

World Liberty Financial (WLF), Donald Trump’s fresh crypto project, released a 13-page “Gold Paper” outlining its mission and token allocation. Shockingly it revealed that the Trump family could just pocket 75% of the net revenue from the project.

In the “World Liberty Gold Paper,” WLF announced plans to allocate 22.5 billion $WLFI tokens to the Trump family. At launch, these tokens will be valued at around $337.5 million. This move comes in as Donald Trump is holding an impressive lead in the US election forecast over Kamala Harris.

Trump’s WLFI token aims for $300M

Once known as “The DeFiant Ones,” this project is pushing hard as Trump battles it out with Kamala Harris in the political arena. The WLFI token launched recently, and looking to raise $300 million at a $1.5 billion valuation. As of Thursday October 18, only $12.9 million worth of tokens have been sold.

The token allocation breakdown includes 35% for the token sale, 32.5% for community growth, 30% for initial support, and 2.5% for the founding team. However, these amounts are subject to change. 

The paper mentions that Trump and his family hold no liability, while, none of them are directors, employees, managers, or operators of WLF or its affiliates. It added that the tokens are not political and have no affiliation with any political campaign.

See also  Pepe Coin Whale offloaded over 1 trillion PEPE to Binance exchange

WLF aims to be a crypto bank

WLF is positioning itself as a crypto bank, inviting customers to borrow, lend, and invest in digital coins. According to the document, net protocol revenue includes everything from platform fees to advertising profits, minus expenses. 

It plans to hold $30 million of initial revenue in reserves for operating expenses and other financial obligations. The remaining 25% of net protocol revenue will go to Axiom Management Group (AMG), owned by co-founders Chase Herro and Zachary Folkman. AMG will share half of its revenue rights with WC Digital Fi, tied to Trump’s ally, Steve Witkoff and his family members.

“Trump holds a 61% chance of winning”

Polymarket shows that former president Trump holds a 61% chance of winning in the 2024 Presidential elections ahead of VP Kamala Harris. A few weeks ago, both contenders were tied in the race.

The fresh leap has moved the crypto market to print greens as Bitcoin regained the crucial $68,000 price level, recently. The cumulative crypto market is up marginally to stand at $2.32 trillion with a trading volume of $76.2 billion.

Bitcoin price saw an upswing of over 12% in the last 7 days, pumping the major altcoins. BTC is trading at an average price of $68,022, at press time.

See also  BRICS’ de-dollarization goal - Why it’s still out of reach

Share link:

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Editor's choice

Loading Editor's Choice articles...

Stay on top of crypto news, get daily updates in your inbox

Most read

Loading Most Read articles...
Cryptopolitan
Subscribe to CryptoPolitan