On the campaign trail last year, then-candidate Donald Trump promised the crypto industry that he would become the first president to embrace blockchain technology. At the time, he didn’t reveal that he also planned to make crypto a cornerstone of his growing business empire.
While the exact ownership structure of World Liberty, as well as Trump’s potential profit from token sales, remained largely opaque, the financial disclosure report offers the first details on the president’s profit, including the $57 million earned off token sales. World Liberty offered WLFI to accredited investors, including the Chinese crypto entrepreneur Justin Sun, who had previously faced charges from the Securities and Exchange Commission that were dropped after Trump took office.
Trump continues to advance crypto industry priorities, including legislation in Congress that would establish regulation for stablecoins and token issuance. But even as real estate dominates his holdings, Friday’s financial disclosure report demonstrates the increasing importance of crypto to his business empire.