Latest news with #WLF
India.com
13-07-2025
- Business
- India.com
Who is this man, richer than Mukesh Ambani, Gautam Adani? No one has seen his face, name is...
Mukesh Ambani, Gautam Adani (File) Bitcoin founder update: You must have heard about cryptocurrencies. More specifically, you must have heard about popular cryptocurrencies like Bitcoin, Ethereum and Tether. Talking about their values, the Bitcoin is today valued at $117.82K and Ethereum at $2.95K as per Forbes. Together, Bitcoin and Ethereum occupy a major section of the global crypto market. However, do you know who is behind the origin of Bitcoin, the first cryptocurrency ever created and more specifically what is his total wealth as of date. How was Bitcoin launched? Launched in January 2009 by the mysterious figure known as Satoshi Nakamoto, Bitcoin was launched in January 2009. Most importantly, Bitcoin was world's first cryptocurrency, marking the beginning of decentralized digital finance. The introduction of the Bitcoin was seen as groundbreaking system based on blockchain technology, Bitcoin has seen a massive increase in its price since its introduction. What is Satoshi Nakamoto's bitcoin current holdings? As a result of the massive increase in the price of Bitcoins, a well-known cryptocurrency researcher Sergio Demian Lerner published a research paper on Satoshi Nakamoto's bitcoin holdings, where he claimed that Nakamoto may have 1 million bitcoins. Donald Trump earned nearly $57.4 million from crypto venture in 2024 In another significant update from the cryptocurrency world, US President Donald Trump made nearly $57.4 million in 2024 from his cryptocurrency company, World Liberty Financial (WLF), a new government report has said. The official US Government Ethics report released for the year ending December 31, 2024 has revealed that the earnings of the now US President. The report stated that Trump earned this income through 'token sales' from the company, which is involved in the cryptocurrency business. The 79-year-old Republican is listed as the Co-Founder Emeritus of WLF, while his sons — Eric Trump, Donald Trump Jr., and Barron Trump — are also co-founders of the venture. The company was co-founded by Trump and Steven Witkoff, a well-known American real-estate investor and lawyer. According to the filing, Trump mainly owns the WLFI protocol and governance platform. (With inputs from agencies)
Arabian Post
29-06-2025
- Business
- Arabian Post
UAE Fund Backs Trump-Linked Crypto with $100m Governance Stake
Arabian Post Staff -Dubai A UAE-based investment vehicle, Aqua 1 Foundation, has acquired $100 million in governance tokens from World Liberty Financial, the cryptocurrency venture affiliated with the Trump family, making it the most prominent publicly disclosed investor to date. The move, confirmed by both parties, signals a strategic push to accelerate the creation of a blockchain-based financial ecosystem built on stablecoins and tokenised real-world assets. Aqua 1 described the allocation of governance tokens—known as WLFI—as an opportunity to contribute to decisions on the platform's development. Although WLFI is currently non-transferable, World Liberty has confirmed it is 'working behind the scenes' to enable trading functionality. At the Permissionless conference in Brooklyn, WLF co‑founder Zak Folkman stated that WLFI could soon be tradable, with the stablecoin set for an independent audit 'within days'. ADVERTISEMENT Dave Lee, founding partner at Aqua 1, emphasised the synergy expected from the partnership, citing plans to jointly identify and foster high‑potential blockchain initiatives. The intention is to integrate WLF's USD1 stablecoin infrastructure into global commercial payments and treasury systems. The move marks Aqua 1 as a key bridge between traditional finance and decentralised finance, aligning with its ambition to extend influence into South America, Europe, Asia and Middle Eastern markets. Despite its substantial investment, Aqua 1 has maintained a low profile. Reports indicate its web presence is minimal—with just a handful of social media posts and evidence of a website only registered on 28 May. WLF, launched in late 2024 by Donald Trump, three of his sons and associate Steve Witkoff, has raised well over half a billion dollars through token sales. The Trump family controls a significant stake—around 60% ownership and 75% of net token sales revenue—raising concerns over conflicts of interest. Democratic lawmakers and ethics watchdogs have repeatedly voiced apprehension that these financial interests may influence policy, amid reports that WLF proceeds reached hundreds of millions of dollars. WLF's stablecoin, USD1, is 100% backed and supported by U.S. dollar reserves, including Treasuries, and has already drawn sizeable institutional backing. In May, an Abu Dhabi firm used USD1 in a $2 billion transaction with Binance, while WLF prepares to publish an attestation of its stablecoin reserves as part of forthcoming audit disclosures. The institutionalisation of WLFI governance aligns with the platform's roadmap, which includes plans to launch a consumer‑friendly mobile app to streamline access to its digital ecosystem. The expected transition to transferable governance tokens is likely a precondition to broader distribution and potential listings on third‑party exchanges. Regulatory scrutiny remains a key challenge. Critics argue that WLF's entanglement of private financial interests with public office contradicts norms protecting against foreign influence. At least one senator has raised concerns after the Abu Dhabi stablecoin transaction. Additional worries stem from the Trump administration's shift toward crypto deregulation, a change that coincides with WLF's rise, prompting concerns from ethics groups about policy bias favoring the platform. That overlap of influence has fuelled broader debates in Congress. Legislators have begun proposing amendments such as the GENIUS Act, which would regulate stablecoins more robustly, and restrictions on digital asset investments by sitting presidents. Observers note that WLFI's new status and Aqua 1's involvement could sharpen the need for regulatory clarity and transparency around token governance. Meanwhile, WLF's expansion plans are proceeding apace. The platform is reportedly developing a Middle East‑based Aqua Fund to support digital economy projects leveraging blockchain and artificial intelligence. The collaboration is expected to produce tokenisation platforms such as BlockRock, targeting institutional asset-digitisation markets. Aqua 1's governance stake marks a turning point. By becoming the lead institutional backer, the foundation now holds significant influence over decisions shaping WLF's evolution. With token transferability and app launches on the horizon, WLFI stands poised for a new phase of adoption—though progress will likely be watched closely by regulators and investors alike.
Mint
26-06-2025
- Business
- Mint
UAE's Aqua 1 invests $100 million in Trump-linked crypto venture, amid outcry of influence peddling
Aqua 1 Foundation, a UAE-based Web3 investment fund, announced today a $100 million purchase of governance tokens in World Liberty Financial (WLF), solidifying its position as the largest individual investor in the controversial crypto venture closely tied to the Trump family. The deal marks the second major Middle Eastern investment in WLF within months, raising fresh questions about foreign influence and conflicts of interest surrounding the decentralized finance platform. The investment grants Aqua 1 significant voting rights over WLF's future development. According to a joint statement, the capital will accelerate WLF's plans to build blockchain-powered financial applications, including expanding its USD1 stablecoin and developing platforms for tokenizing traditional assets like real estate or commodities. The partnership also includes plans to co-develop "BlockRock," an institutional real-world asset (RWA) tokenization platform, and support the launch of Aqua 1's "Aqua Fund," a UAE-domiciled digital economy investment vehicle backed by regional stakeholders. "Aligning with Aqua 1 validates our blueprint for global financial innovation," said WLF co-founder Zak Folkman. 'We have a joint mission to bring digital assets to the masses and strengthen our nation's standing as a champion and leader of cryptocurrency.' Dave Lee, Aqua 1's founding partner, emphasized WLF's USD1 ecosystem represents a "trillion-dollar structural pivot opportunity" merging traditional finance with decentralized technology. This investment shines another spotlight on WLF's origins and ownership structure, which has drawn intense scrutiny since its launch: WLF was founded in 2024 and is primarily owned by DT Marks DEFI LLC, an entity controlled by Donald Trump and his family, holding approximately 60% (recently reduced from 75%). The Trump family business entity is entitled to 75% of all net revenues from WLF token sales. Eric Trump and Donald Trump Jr. are actively involved in management, while Barron Trump is listed as the project's "DeFi visionary." Initial co-founders Zachary Folkman and Chase Herro handle day-to-day operations. The Aqua 1 investment, following closely on the Abu Dhabi MGX deal, intensifies concerns among government ethics experts and critics of the Trump administration. They argue that these substantial foreign investments, particularly from nations with sovereign wealth funds and strategic interests, into a company enriching the sitting President's family create significant potential for influence peddling and conflicts of interest. The administration and WLF maintain there are no conflicts, pointing to Trump's assets being in a trust managed by his children.
Business Times
26-06-2025
- Business
- Business Times
Trump-backed crypto firm is planning stablecoin audit, new app
[NEW YORK] Zak Folkman, the co-founder of US President Donald Trump's cryptocurrency platform World Liberty Financial (WLF), said on Wednesday (Jun 25) that the company will issue an audit of its stablecoin 'within days' and that it planned a new app. Folkman also hinted that WLF's governance token, known as WLFI, could soon become tradable in an interview at the Permissionless conference on Wednesday, organised by crypto media company Blockworks in Brooklyn, New York. WLFI, which was launched two months before the US presidential election in November by Trump and his business partners, has yielded hundreds of millions of US dollars in revenue for the Republican president's family business. The business, along with other forays into crypto, has drawn a barrage of criticism from Democratic lawmakers, as well as government ethics watchdogs. Critics say it creates conflicts of interest as it is happening at the same time as the president is pulling back enforcement and easing regulations on the industry. The Trump Organization said in January that the president's investments, assets and business interests would be held in a trust managed by his children. The White House and the Trump Organization did not immediately respond to requests for comment. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up World Liberty has raised the money by selling so-called governance tokens, which give holders the right to vote on changes to the project's underlying code and to signal their opinion on its direction and plans. They cannot be traded. During the interview on Wednesday, when Blockworks co-founder Jason Yanowitz asked whether the token would become tradable, Folkman said: 'I don't want to give away too much, but if you pay attention over the next couple of weeks, I think everyone ... is going to be very, very happy.' Folkman said that WLF would also be launching an app that would make crypto seamless for everyday investors to use. He said the company's stablecoin recently just got its first attestation report from an accounting firm and that it would be posted on its website 'within the next few days'. 'We are going to have very transparent auditing from a financial level,' he said. REUTERS
Yahoo
25-06-2025
- Business
- Yahoo
Trump-backed crypto firm is planning stablecoin audit, new app
By Michelle Conlin (Reuters) -Zak Folkman, the co-founder of U.S. President Donald Trump's cryptocurrency platform World Liberty Financial, said on Wednesday that the company will issue an audit of its stablecoin "within days" and that it planned a new app. Folkman also hinted that WLF's governance token, known as WLFI, could soon become tradable in an interview at the Permissionless conference on Wednesday, organized by crypto media company Blockworks in Brooklyn, New York. WLFI, which was launched two months before the U.S. presidential election in November by Trump and his business partners, has yielded hundreds of millions of dollars in revenue for the Republican president's family business. The business, along with other forays into crypto, has drawn a barrage of criticism from Democratic lawmakers, as well as government ethics watchdogs. Critics say it creates conflicts of interest as it is happening at the same time as the president is pulling back enforcement and easing regulations on the industry. The Trump Organization said in January that the president's investments, assets and business interests would be held in a trust managed by his children. The White House and the Trump Organization did not immediately respond to requests for comment. World Liberty has raised the money by selling so-called governance tokens, which give holders the right to vote on changes to the project's underlying code and to signal their opinion on its direction and plans. They cannot be traded. During the interview on Wednesday, when Blockworks co-founder Jason Yanowitz asked whether the token would become tradable, Folkman said, "I don't want to give away too much, but if you pay attention over the next couple of weeks, I think everyone ... is going to be very, very happy." Folkman said WLF would also be launching an app that would make crypto seamless for everyday investors to use. He said the company's stablecoin recently just got its first attestation report from an accounting firm and that it would be posted on its website "within the next few days." "We're going to have very transparent auditing from a financial level," he said. (Michelle Conlin in New YorkEditing by Marguerita Choy)
