Five billion dollars in a single day, and all thanks to a new cryptocurrency.
This week, the Trump family's fortune has grown significantly, surpassing decades of real estate investment gains. The reason is the debut of the cryptocurrency WLFI, which was launched on Monday, September 1, by Eric and Donald Trump Jr., the sons of the US president, while Donald Trump is considered the "co-founder emeritus". The name of the token WLFI is associated with the decentralized trading platform World Liberty Financial, which aims to bring a new approach to trading digital assets.
The initial token investors had given their approval for the coin to be traded back in July, opening up access to assets that had previously been locked up in early adopters’ digital wallets. However, the project’s internal rules stipulate that investors cannot sell more than 20% of their token holdings in the initial phase.
According to published data, the Trump family's portfolio contains over a quarter of the total tokens, about 16 billion WLFI, and on Monday alone this participation has helped increase their capital by $ 5 billion. The digital currency was initially launched at a price of 30 cents, while early investors had bought it for just 1.5 cents. During the opening day, the price fell to 20 cents, while according to the CoinMarketCap platform, a volume of $ 1 billion was traded in WLFI on the first day.
Donald Trump has publicly expressed his interest in the world of cryptocurrencies, largely under the influence of his children, who have advised and guided him in this direction. In a virtual meeting, he stated that Eric, Don Jr. and Barron are very familiar with the cryptocurrency market and digital portfolio management.
WLFI is not the Trump family's first foray into the sector. In January of this year, the former US president launched the $TRUMP token, a memecoin, and later introduced the $Melania token, dedicated to his wife, Melania Trump. These initiatives aim not only to generate financial benefits, but also to strengthen the presence of the Trump brand in the increasingly influential world of digital finance.
With the dizzying rise in the value of WLFI on its debut, the Trump family's wealth has received a historic boost, consolidating its position as one of the richest and most influential families in the new digital asset market.
