Cryptocurrency news can be hard to follow. For instance, I recently encountered the term “tokenized coin” and spiraled until I could calm myself down with a beveragized drink. But a new Reuters report on the Trump family’s crypto profits makes things real easy to understand: According to Reuters’ own analysis, The Trump family has been able to “generate at least $2.3 billion in profit from investors since Trump retook the presidency,” while losses for the approximately one million people who put their money in Trump-related crypto investments “totaled $2.3 billion at the end of April.” It’s symmetrical, and also sad. According to the report, the Trumps profited most of all from sales of $WLFI, the World Liberty Financial governance token, created by World Liberty Financial, a Trump family crypto venture. The Trumps reportedly took a 75% cut of Token sales, and has a 60% stake in the company.
That calculation included sales that were disclosed, along with an estimate of additional sales based on Reuters’ own investigation. World Liberty Financial told Reuters that token was “not an investment product” and that World Liberty “does not validate third-party methodologies for valuing governance tokens or estimating aggregate investor positions.”
