Donald Trump Rakes in Over $57 Million from World Liberty Financial Token Sales

Former U.S. President Donald Trump earned over $57 million from the sale of tokens associated with the World Liberty Financial (WLF) project, according to a financial disclosure published by the Office of Government Ethics.

Trump owns 15.75 billion native WLFI tokens, which are estimated to be worth between $1,001 and $15,000 each, granting him a voice in the project’s governance.

In WLF’s official documents, Trump is identified as the «chief crypto advocate» of the company alongside his three sons, although he is neither a director, founder, nor owner of the firm.

In March, the project completed its second round of token sales, raising $590 million. The team is currently focused on promoting the USD1 dollar stablecoin.

Meanwhile, Trump Media & Technology Group (TMTG), which operates the social media platform Truth Social, has received approval from the Securities and Exchange Commission (SEC) to implement a bitcoin strategy. This decision has unlocked $2.3 billion in capital raised from institutional investors.

The company may allocate these funds for the purchase of digital assets at its discretion, including determining amounts and timing.

The strategy also allows for investing in bitcoin-related securities or selling bitcoin for other asset investments. According to a press release, TMTG could secure up to $12 billion in additional funding through equity offerings, debt securities, or warrants. However, the company has «no immediate plans to issue any securities» under this framework.

The company is publicly traded on Nasdaq under the ticker DJT. As of this writing, the securities are valued at $19.52, according to Google Finance.

Trump’s social network, Truth Social, has submitted an application to the SEC for launching a spot ETF tracking the prices of bitcoin and Ethereum. The product will be sponsored by the investment firm Yorkville America Digital.

The fund aims to provide investors with access to a basket of the two largest cryptocurrencies by market capitalization through stock purchases, eliminating the complexity of direct ownership of digital assets.

Crypto.com, through Foris DAX Trust Company, will handle the storage of the cryptocurrencies for the fund.

It is expected that ETF shares will be traded on the NYSE Arca. However, the company has yet to determine the ETF’s ticker symbol and the custodian for fiat funds.

Later, Truth Social plans to submit an amendment to the application, detailing its transactional agreement with Crypto.com.

To recall, on June 5, a feud between Trump and billionaire Elon Musk led to a plunge in bitcoin’s value to $100,000.