Trump Family Offloads 20% Stake in Crypto Company Amid Stablecoin Bill Progress
Stablecoins are gaining traction in U.S. policy as the Senate passed a bipartisan regulation bill. This comes as President Donald Trump and his family sold approximately 20% of their stake in World Liberty Financial (WLFI), a crypto company with its own stablecoin.
- DT Marks DEFI LLC, affiliated with Trump, now owns about 40% of WLFI, down from 60%.
- Trump's involvement in crypto has reportedly earned him tens of millions of dollars and influenced digital asset regulation debates.
- The stablecoin bill is pending in the House after being stalled due to concerns over Trump's business ties.
- Lawmakers like Elizabeth Warren have raised corruption complaints regarding Trump’s regulation role.
- If WLFI complies with regulations, its USD1 stablecoin may stabilize.
- Trump's family has not fully disclosed their stakes or management roles in WLFI.
- Trump has hosted events for investors in his personal memecoin and engaged in NFT sales and bitcoin initiatives.
Trump's connections span numerous sectors within the crypto industry.