Trump's World Liberty Financial Crypto Venture Raised $50 Million—Likely Sending Millions To His Family, SEC Filing Shows
World Liberty Financial reported distributing $50.7 million, including to President Donald Trump, in ... More proceeds from token sales. Photographer: Gabby Jones/Bloomberg © 2025 Bloomberg Finance LP
Trump and his family control about 40% of World Liberty Financial, a decentralized finance platform launched in September 2024 that is building a blockchain-based protocol.
On Oct. 15, 2024, World Liberty Financial began selling $WLFI, a crypto token that doesn't convey ownership in the privately held company but gives holders voting rights on certain matters concerning the protocol, and at launch the tokens were nontransferable.
An SEC filing made at the end of that month revealed World Liberty Financial sold $2.7 million worth of tokens to 348 accredited investors, with plans to sell no more than $30 million overall—keeping all proceeds inside the company with none flowing to Trump or other founders.
But World Liberty Financial disclosed in an SEC filing last week (first flagged by independent journalist Wendy Siegelman) that it sold another $52.1 million of tokens to 1,966 investors—this time distributing $50.7 million to Trump and other founders, rather than retaining all proceeds within the company as in its initial sale.
If distributed according to current ownership stakes, the July payout could have netted the Trump family around $20 million—though the filings don't break out individual distributions, and Alan Palmiter, a professor at Wake Forest University who specializes in securities regulation, told Forbes he's not aware of any requirement that payments be proportionate to equity stake.
World Liberty Financial declined to comment, and the Trump Organization did not respond to an inquiry.
While World Liberty Financial acknowledged in its latest SEC filing that it sold tokens 'to non-US persons' in a separate sale, it did not reveal how much they paid or who they were, saying such details weren't required under U.S. securities laws. What To Watch For
On Wednesday, World Liberty Financial asked tokenholders to approve a plan that would let some tokens become transferable, with voting scheduled to close on July 16. Under the proposal, tokens held by founders, team members and advisors—including Trump—would stay locked at first and 'be subject to a longer unlock schedule than early supporters.'
White House Deputy Press Secretary Anna Kelly responded to questions about the deal by saying, 'President Trump is dedicated to making America the crypto capital of the world and revolutionizing our digital financial technology,' adding, 'his assets are in a trust managed by his children, and there are no conflicts of interest.' An ethics white paper the Trump Organization released in January noted the Constitution does not bar a president from owning, operating or managing a private business. But to 'avoid even the appearance of any conflict,' the company said it hired an outside ethics adviser and Trump would keep his assets in a trust and not manage the company directly. The Trump Organization, however, later fired that adviser at Trump's instruction. Key Background
Trump can earn income from his businesses while in office through the Donald J. Trump Revocable Trust, the same vehicle he used during his first term. He is its sole donor and beneficiary, while Donald Trump Jr. serves as the trustee. The Trump Organization confirmed in an April regulatory filing in the United Kingdom that Trump retains control over his businesses. As president, he has pledged to make the United States the 'crypto capital of the world,' aligning with his expanding investments in digital assets. World Liberty Financial initially allocated 22.5 billion of its 100 billion $WLFI tokens to Trump and family members. Another 35 billion were offered for sale, while the rest were split among other founders, employees and a reserve for community incentives. The Trumps' ownership stake in the company was around 75% at the end of December, dropped to roughly 60% by late January and still appeared at that level on World Liberty Financial's website as of June 8, before being updated to about 40%—though it's unclear exactly when or why the reductions took place. World Liberty Financial's other main product is the USD1 stablecoin, a crypto currency pegged to the U.S. dollar and backed by Treasuries and cash equivalents. Big Number
$57.4 million: Trump's income from World Liberty Financial, according to a financial disclosure released in June, which appears to cover roughly a 12-month period ending in December 2024. Surprising Fact
World Liberty Financial's investor count surged from 348 last fall to nearly 2,000 by mid-2025—an unusually large pool for a private placement that Marcus Walter, a partner at the law firm Caldwell, told Forbes looks 'more akin to a mini-IPO,' potentially raising compliance hurdles.
In June, the Senate passed the Genius Act, a crypto industry-backed bill that would create new rules for stablecoins like World Liberty Financial's USD1. The House could vote on it as early as next week, reported Punchbowl News. Meanwhile, in response to Trump's crypto ventures, Sen. Jeff Merkley, D-Ore., introduced the End Crypto Corruption Act in May, aiming to ban presidents and other top officials from 'issuing, endorsing or sponsoring crypto assets.' The bill is pending with 25 co-sponsors (all Democrats plus Independent Bernie Sanders). Last week, Republicans blocked Merkley's attempt to pass a similar measure as an amendment to another bill. Chief Critic
'Currently, people who wish to cultivate influence with the president can enrich him personally by buying cryptocurrency he owns or controls,' Merkley said in a statement announcing his bill. 'This is a profoundly corrupt scheme. It endangers our national security and erodes public trust in government.' Tangent
World Liberty Financial co-founder emeritus Steven Witkoff—who serves as Trump's Special Envoy to the Middle East—is also listed in the SEC filing as a recipient of proceeds from the token sale. Forbes Valuation
Forbes estimates Donald Trump is worth about $5.2 billion, with crypto making up the bulk of his wealth. Further Viewing
Further Reading
President Trump's Crypto Firm Expands Relationship With Embattled Blockchain Billionaire (Forbes)
SEC Drops Binance Lawsuit Days After Crypto Exchange Lists Trump's Stablecoin (Forbes)
Trump's New Partner For Crypto Venture Is KuCoin — An Exchange Banned In U.S., Fined $300 Million For Money Laundering (Forbes)
Crypto Now Accounts For Most Of Donald Trump's Net Worth (Forbes)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Android Authority
a minute ago
- Android Authority
Pixel Watch 4 pricing leak could mean good news for those fearing a hike
TL;DR A new Pixel Watch 4 leak has revealed that the pricing may remain unchanged from the Pixel Watch 3 in Europe. Unless there are any tariff impacts, this suggests US prices may also remain flat, starting at $349. With the upgrades to the specs of the Google wearable looking modest, it would be logical that there would be little to no price hike. It's not too long now until we meet the Pixel Watch 4. While we've managed to get some insight into the specs and colors of the next Google wearable, one aspect remained a mystery. However, we now have our best insight yet into how much it might cost. According to a report from Dealabs, Google will keep the Pixel Watch 4 pricing unchanged in France and the wider European market. The smaller 41mm model will be priced at €399 for Wi-Fi and €499 for LTE, while the larger 45mm versions will come in at €449 and €549, respectively. If those prices are accurate, US buyers may also be spared a price hike this year. The Pixel Watch 3 launched at $349 for the 41mm Wi-Fi model, $399 for the 41mm LTE, $399 for the 45mm Wi-Fi, and $449 for the 45mm LTE. Google may stick with the same pricing tiers for the Pixel Watch 4. Given how modest the hardware changes are this year, a flat price seems logical. The Pixel Watch 4 is expected to reuse the same Snapdragon W5 Gen 1 chip as its predecessors, albeit with slightly larger batteries and a new co-processor to help with AI tasks. Other potential upgrades include faster charging, a more repairable design, and new emergency features like Breathing Emergencies alerts and satellite communication support. One unknown is whether the Trump administration's shifting tariff policies could impact US pricing. Some of Google's hardware is still assembled in China, and new trade measures could introduce added costs. That said, any such impact remains speculative at this stage. Google is set to reveal the Pixel Watch 4 officially at its Made by Google event on August 20. Pre-orders are expected to open on the same day, so we only have a month to wait for price confirmation. Got a tip? Talk to us! Email our staff at Email our staff at news@ . You can stay anonymous or get credit for the info, it's your choice.
Gizmodo
a minute ago
- Gizmodo
Netflix Is Doubling Down on Ads and Dabbling in AI
When Netflix debuted its video streaming service back in 2011, it seemed like it would usher in the end of the television commercial. Fast-forward 14 years, and Netflix is now working on growing its own ad network and it thinks this is the future of the business. Well, that and AI. Netflix execs told investors on Thursday that it is on track to double its advertising revenue this year. They did not say whether they would follow in the footsteps of other streaming networks and increase the ad load for existing customers, but they did announce that the service will be injecting interactive promotions into its content. The company first introduced its ad-supported plan in late 2022. Since then, the more budget-friendly subscription tier has grown to 94 million users, and Netflix is now eager to cash in on those eyeballs. In the first half of 2025 alone, viewers watched 95 billion hours on Netflix. The platform's most-viewed series was the British drama Adolescence, which garnered 145 million views. Other top-performing shows included Squid Game, Ginny & Georgia, and the children's show Ms. Rachel, hosted by the former YouTuber and advocate for children in Gaza. In a letter to shareholders, Netflix said its goal is to monetize this 'engagement' not only from subscriptions but also from advertising revenue. That means Netflix needs to sell more ads, and it just made that easier by completing the global launch of its own first-party ad tech platform. 'The rollout of our own ad tech stack, which helps deliver a bunch of features, and then our slate, which is generally amazing and includes a growing number of live events that advertisers are excited about,' co-CEO Greg Peters said during Thursday's earnings call. Peters also said that interactive ads, which are already used by rivals like Amazon Prime Video and Hulu, are coming to Netflix later this year. Live programming is another part of the company's ad push. Upcoming events include NFL games on Christmas Day and a high-profile boxing match between Canelo Álvarez and Terence Crawford. Big live events like these are attractive to advertisers due to their massive, real-time audiences. Netflix didn't say exactly how much of the $45.2 billion in its estimated revenue for the year will come from ads. But some analysts expect that number to surpass $4 billion. Back in October, Peters acknowledged that 'while ads won't be a primary driver of revenue in 2025,' the company sees a real opportunity to 'close that gap.' While Peters focused on ads, Netflix's other co-CEO, Ted Sarandos, sounded pretty excited about another kind of tech — AI. 'We remain convinced that AI represents an incredible opportunity to help creators make films and series better, not just cheaper,' Sarandos said on the call. He pointed to the company's upcoming Argentinian sci-fi series El Eternauta, which features what he described as the 'very first GenAI final footage to appear on screen' in a Netflix show or film. He said the show used AI-powered tools for a sequence showing a building collapsing in Buenos Aires. 'And in fact, that VFX sequence was completed 10 times faster than it could have been completed with visual, traditional VFX tools and workflows,' Sarando said. And, also, the cost of it would just not have been feasible for a show in that budget.'
Gizmodo
a minute ago
- Gizmodo
These JBL Tune Buds Are 50% Off, Now Practically Free Noise Cancelling Earbuds on Amazon
Good earbuds are essential if you're someone who commutes or travels a lot. After all, being able to tune into your favorite songs or podcasts while enjoying them with great sound quality is one of the little pleasures in life. It's great when you're working out or just working as well, because being able to focus is essential. If you're looking for a reliable pair of earbuds with a massive discount, then you're in luck today. That's because you can currently get your hands on JBL Tune Buds for just $50, which is 50% off the standard price. We don't know how long this deal will actually last though, so make sure you're quick if you want them. See at Amazon These JBL earbuds pack in JBL Pure Bass Sound, which means that they use specially designed 10mm drivers to enhance the sound they can output. This means you'll get more from the lows and the highs of whatever you're listening to. That's great news if you're an audio person looking for a more affordable way to upgrade your experience. Of course, these also boast impressive active noise cancelling, which makes it really easy to drown out the rest of the world when you need to focus. This works on pesky background noise at the office, but also on gym chatter or traffic sounds as you're waiting for a bus or something. You can also switch to Ambient Aware if you do actually need to stay aware of your surroundings, just in case you're in the middle of a project and someone comes to chat with you. All of that is so good because these earbuds have four microphones, which means they can also be used for phone calls while offering excellent audio quality to whoever you're talking to. They're good at just about everything. In fact, they've even got an impressive battery life of up to 48 hours thanks to the charge carrying case. You can charge up to four hours of playtime in just 15 minutes as well, so as long as you remember that you need more power just before you leave your house, you should be able to sort things out. If you do want to get your hands on these while they're 50% off, then we'd recommend picking them up soon. There's no way of knowing when these will stop being just $50, so don't miss out on this great deal. See at Amazon
