- Donald Trump’s crypto project, World Liberty Financial, will allocate 75% of the net protocol revenue to an entity connected to Trump and his family, called DT Marks DEFI LLC.
- The remaining 25% of the net protocol revenue will go to Axiom Management Group, a Puerto Rico LLC owned by the project’s co-founders Chase Herro and Zachary Folkman.
- The document specifies that Trump and his family assume no liability and are not directors, employees, managers or operators of World Liberty Financial or its affiliates.
Former President Donald Trump’s new crypto project, World Liberty Financial (WLF), has sparked controversy due to plans for the Trump family to receive a large portion of revenue. WLF published a 13-page document this week that outlined the project’s mission and token allocation, raising concerns about potential conflicts of interest.
The Trump Family’s Potential Earnings
The Trump family stands to earn up to 75% of net revenue from the project through a company called DT Marks DEFI LLC.
- The Trumps will receive 225 billion WLFI tokens currently valued at $33.75 million based on the launch price of $0.15 per token.
- The document states the Trumps assume no liability and have no roles as directors, employees, managers or operators of WLF.
- Critics argue this creates a conflict of interest for Trump as he campaigns for president in 2024.
Allocation of Remaining Revenue
The remaining 25% of net revenue will go to Axiom Management Group (AMG), an LLC owned by WLF co-founders Chase Herro and Zachary Folkman.
- AMG will allocate half of its revenue share to WC Digital Fi, an affiliate of Trump friend and donor Steve Witkoff.
- Witkoff’s son Zachary is also a WLF co-founder.
Other Key Details
- WLF aims to operate as a crypto bank for borrowing, lending and investing in digital coins.
- The Trump family’s exact token allocation is unclear, as the percentages laid out are “subject to change.”
- Trump’s sons are listed as “Web3 ambassadors” for the project.
- The project’s founders include individuals linked to past failed crypto ventures.
Conclusion
The Trump crypto project has quickly prompted criticism and questions around potential conflicts of interest as the former president and his family stand to earn millions. While the founders tout WLF’s mission, their backgrounds and the Trumps’ sizable revenue share have fueled skepticism. The project’s success will depend on whether it can overcome these concerns.
