World Liberty Financial (WLFI), the crypto firm associated with the family of US President Donald Trump, made waves when it debuted late last year. WLFI caused a stir when it launched ahead of the president’s inauguration. Observers have accused the project of front-running important crypto-related events, like the White House Crypto summit, and presenting a conflict of interest. Trump is in a unique position to influence outcomes that would affect his portfolio, but WLFI is not insulated from the broader market trends, which have seen crypto and stock prices drop amid significant macroeconomic concerns. The Trump administration will soon mark 100 days in office. Here’s what WLFI has been up to, and how the president’s crypto investments are shaking out. WLFI launched on Sept. 16, with then-President-elect Donald Trump announcing the move. Founded under the guidance of real estate magnate Steve Witkoff and his son Zach, the co-founders also include Chase Herro, a crypto investor, and self-described “dirtbag of the internet,” and Zak Folkman, a social media influencer and former pickup artist. The Trump family also features prominently. President Trump is listed as “chief crypto advocate,” while his sons Eric, Donald Jr., and Barron are “Web3 ambassadors.” One of World Liberty Financial’s first moves was to sell its own token. The first token sale opened on Oct. 15, 2024, earning the company about $300 million by selling 20 billion WLFI for $0.015 each. On Jan. 20, 2025, the day Trump was inaugurated, WLFI announced a second token sale, citing “massive demand and overwhelming interest.” The firm offered 5 billion tokens at $0.05 each, representing a price increase of 230% from the first sale. According to the project’s “gold paper,” the WLFI tokens will confer voter rights to holders on important matters affecting the protocol, such as upgrades. All told, WLFI walked away with $550 million in token sales. WLFI’s portfolio contains a number of different assets, with 13 making up the lion’s share at the time of writing. Most of its holdings are in dollar-backed stablecoin USDC, followed by Wrapped Bitcoin (BTC) and Ether (ETH). Overall, WLFI’s holdings in WBTC, SEI, and AVAX have been performing most successfully. Major investments in MNT, MOVE, ONDO, and ETH are all seeing losses in the double digits as of April 24. Despite these concerns, the Trump administration’s ties to crypto are only strengthening. His administration has dropped several high-level enforcement cases against crypto firms, and his allies in Congress are writing favorable legislation for the industry. On April 16, crypto market maker DWF Labs announced a $25 million investment in WLFI and agreed to provide liquidity for USD1.
