Lead: This week, a token issued by World Liberty Financial — a crypto firm co-founded last year by President Donald Trump and his sons — began public trading, producing an estimated $5 billion on-paper increase in the family’s holdings and prompting fresh concerns about conflicts of interest and regulatory gaps.
Key Takeaways
- World Liberty Financial’s token, traded as “$WLFI,” started public trading in early September 2025.
- The Trump family saw roughly $5 billion in paper gains when the token debuted.
- WLFI traded around $0.22 by Wednesday afternoon, down from an initial peak near $0.32.
- The company says its team, including the Trumps, were barred from selling tokens at launch.
- Critics say the launch highlights weak safeguards as the administration favors looser crypto rules.
- White House spokesperson Karoline Leavitt denied conflicts of interest in a statement to reporters.
- Key context: President Trump signed the GENIUS Act in July 2025 and has appointed crypto-friendly officials to financial agencies.
Verified Facts
World Liberty Financial, a crypto venture co-founded last year by President Trump and his sons, made a public debut of its native token, WLFI, in the first days of September 2025. Market data cited by news outlets shows the token traded as high as $0.32 immediately after listing and was about $0.22 by Wednesday afternoon.
The Trump family’s stake in World Liberty was valued at roughly $5 billion on paper when WLFI began trading publicly. Company statements indicate members of the firm’s team, including co-founders, were restricted from selling their own token holdings at the moment of listing.
Financial disclosures show President Trump reported more than $630 million in income in the previous year, including approximately $57 million tied to cryptocurrency sales. The President has previously licensed his name for consumer products and this crypto effort adds another revenue channel connected to his family.
In July 2025, President Trump signed the GENIUS Act, the administration’s major standalone cryptocurrency legislation. Separately, the administration has placed crypto-friendly officials in key regulatory posts — including the appointment last year of Paul Atkins to lead the Securities and Exchange Commission — a shift from the prior administration’s more aggressive enforcement posture.
Context & Impact
The WLFI listing arrives as the White House pursues policies favorable to the crypto industry. Under the prior administration, the SEC pursued several enforcement actions against crypto firms for fraud and related violations; the current administration’s personnel and policy changes have signaled a lighter regulatory touch.
Candidates, donors, and businesses often seek ways to influence or access the presidency; critics say token sales and celebrity-backed crypto projects expand the avenues by which supporters — including deep-pocketed crypto investors — can signal support or provide financial benefit. Supporters argue broader crypto markets can increase participation and innovation.
Even without immediate liquidity from the restricted holdings, the public trading of WLFI raises reputational and ethical questions: valuations and secondary-market activity can materially alter the wealth of officials and their families, and the removal of strict agency enforcement could change incentives across the industry.
Official Statements
“Neither the President nor his family have ever engaged, or will ever engage, in conflicts of interest.”
Karoline Leavitt, White House Press Secretary
Unconfirmed
- Whether the Trumps will be allowed to sell restricted WLFI holdings at a later date under company rules or through secondary transactions is not yet publicly detailed.
- Claims that specific foreign actors or convicted individuals have purchased WLFI tokens have not been substantiated.
Bottom Line
The WLFI listing has produced a sizable on-paper windfall for the Trump family and intensified scrutiny over how presidential ties to private crypto ventures intersect with public duties. With new crypto legislation in place and regulatory leadership shifted, the episode underscores a broader debate about transparency, enforcement, and the financial ties of public officials.
Sources
- NPR (reporting on WLFI launch and Trump family valuation)
- The Wall Street Journal (coverage of the token’s market debut)
- The White House Briefing Room (official statements)
- U.S. Securities and Exchange Commission (agency background and enforcement history)