The Trump family’s net worth skyrocketed by as much as $6 billion on Monday following the debut of its family-owned World Liberty Financial (WLFI) token. Over $3 billion worth of the token has exchanged hands since trading began at 8 a.m. Eastern Time, according to CoinMarketCap.
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The Trump family owns about a quarter of all WLFI tokens. It traded for about 24 cents per token on its debut, soaring to as high as 46 cents before plummeting to about 21 cents at the time of writing.
WLFI and TRUMP Coin Cement Trump Family’s Crypto Ambitions
World Liberty is the company behind WLFI, with Trump’s three sons listed as co-founders of the company and Trump named as the “Co-Founder Emeritus.” Early buyers of the token were able to buy in for as low as 1.5 cents last year, although they will be limited to only selling a fifth of their stake for the time being.
The debut of WLFI further cements the Trump family as a key player in the crypto industry. Three days before his inauguration, CIC Digital, a Trump-affiliated company, launched the TRUMP coin on the Solana (SOL) blockchain, with companies affiliated with Trump retaining about 80% of the supply. TRUMP trades at $8 today with a market capitalization of $1.68 billion, well above its initial price of about $1.20.
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