A Reuters investigation reveals how the Trump family has built a vast, globe-spanning network of cryptocurrency ventures, transforming their business empire into one of the most lucrative and politically sensitive financial machines in modern U.S. history. The centerpiece of this transformation is World Liberty Financial (WLFI), a blockchain-based company launched in 2024 and closely tied to the Trump Organization. Led by Eric Trump and Donald Trump Jr., the enterprise has generated hundreds of millions of dollars in revenue while attracting investors from around the world — many with checkered financial or political backgrounds.
The Rise of World Liberty Financial
World Liberty Financial was conceived as an ambitious platform promising to “redefine the future of finance.” It aimed to create a peer-to-peer system where users could lend, borrow, and transact through blockchain technology without traditional intermediaries. However, despite its public promises, WLFI has yet to deliver the platform it announced at its launch. Even without a fully functioning product, it began selling “governance tokens” — digital assets that ostensibly gave holders a voice in company decisions. These WLFI tokens quickly became the foundation of the Trump family’s cryptocurrency empire.
Eric Trump personally promoted the venture during international appearances in Asia, Europe, and the Middle East, often meeting investors at crypto conferences. At one such event in Dubai, he reportedly pitched a group of investors, including Chinese businessman Guren “Bobby” Zhou, asking for multi-million-dollar investments in exchange for early access to the token sale. Though World Liberty’s technology appeared rudimentary to some participants, the family’s brand power proved irresistible. Within months, the project secured massive funding, including a $100 million investment from a UAE-based entity called Aqua1 Foundation, reportedly linked to Zhou.
The Trump family’s pivot to cryptocurrency has dramatically reshaped their financial landscape. According to Reuters calculations, the Trump Organization’s income surged 17-fold in the first half of 2025, reaching approximately $864 million, up from $51 million a year earlier. More than 90 percent of this windfall came from crypto-related activities — specifically the sale of WLFI tokens and other Trump-branded digital assets.
Of that total, WLFI token sales alone accounted for an estimated $463 million, with major purchases coming from foreign investors. The family also earned around $336 million from sales of the $TRUMP meme coin, another crypto venture that trades largely on the Trump brand. In total, the family’s digital asset income eclipsed all traditional Trump Organization earnings, such as golf resorts and real estate licensing, by a wide margin.
The Trumps’ crypto holdings have also appreciated significantly in paper value. Their portfolio includes WLFI tokens, $TRUMP coins, and shares in Trump Media & Technology Group, the parent company of Truth Social, which has also entered the crypto space. These assets could theoretically add over $11 billion to the family’s fortune if current valuations hold — though such assets are notoriously volatile and subject to steep price swings.
Political Influence Meets Financial Innovation
The investigation highlights a critical intersection between political power and private enterprise. Since Donald Trump’s return to the White House, his administration has taken a markedly crypto-friendly stance. Regulatory bodies such as the Securities and Exchange Commission (SEC) and the Department of Justice have scaled back enforcement actions, paused certain lawsuits, and relaxed oversight over crypto-related institutions. Ethics experts interviewed by Reuters describe this alignment between presidential policy and family profit as “legal but unethical,” suggesting that investors may view Trump-backed ventures as a way to curry favor or benefit from lenient regulation.
The ethical implications are particularly striking because of the president’s indirect financial interest. Although the Trump Organization is held in a trust managed by his children, the president remains the beneficiary. This arrangement means that profits from WLFI and other crypto ventures ultimately flow into a structure he can access after leaving office. Critics argue that this blurs the boundary between public duty and private gain in ways rarely seen in U.S. history.
Foreign Investors and Ethical Gray Zones
A notable feature of the Trump family’s crypto empire is its heavy reliance on foreign investors. An analysis by blockchain analytics firm Nansen found that 36 of the top 50 crypto wallets holding WLFI tokens were linked to overseas buyers, with holdings worth over $800 million. By contrast, only four wallets were tied to U.S. investors, most notably Alt5 Sigma, a Nasdaq-listed blockchain services company that purchased $750 million worth of WLFI tokens. The Trump family reportedly earned about $500 million from this deal alone.
Among other major investors is Justin Sun, a Hong Kong-based crypto entrepreneur previously charged by the SEC for fraud and unregistered securities sales. After Trump’s return to office, the SEC paused its case against Sun, and he increased his WLFI holdings to $75 million. In February 2025, Sun received a presidential pardon, an event that raised eyebrows among ethics observers though no formal link between his investment and the pardon has been established.
A separate line of business under the WLFI umbrella involves a stablecoin called USD1, pegged to U.S. dollar assets. In May 2025, UAE state-controlled investment firm MGX, chaired by Sheikh Tahnoon bin Zayed Al Nahyan, used the USD1 stablecoin to buy a $2 billion stake in Binance, the world’s largest crypto exchange. Because MGX is a foreign government entity, U.S. lawmakers have questioned whether the transaction could violate the Emoluments Clause of the Constitution, which bars officials from receiving financial benefits from foreign states.
The Trump Brand as a Financial Magnet
Analysts agree that much of the Trump family’s success in crypto stems from the power of the Trump name rather than technological innovation. WLFI’s products offer limited functionality compared to established crypto platforms, and its stablecoin’s circulation remains modest. Yet investors see the Trump name as an access point — a chance to associate with political power and gain potential advantages in a deregulated environment. As finance professor Seoyoung Kim put it, “Without the Trump name, you wouldn’t see World Liberty Financial raising this kind of money.”
World Liberty’s leadership structure reinforces the family’s involvement. The company lists Donald Trump Jr., Eric Trump, and Barron Trump as co-founders, alongside billionaire developer Steven Witkoff and his sons. Promotional materials have even featured President Trump himself as “Co-Founder Emeritus,” though a footnote clarifies he stepped back after assuming office. Despite disclaimers, this imagery strengthens the perception of presidential endorsement, which continues to draw investors seeking legitimacy and influence.
The Trumps’ international efforts to market WLFI and related ventures resemble a political roadshow disguised as a business campaign. Donald Trump Jr. and Eric Trump have attended conferences across Europe and Asia, meeting with crypto executives and policymakers. At one such event in Dubai, Eric Trump shared the stage with WLFI co-founder Zach Witkoff and investors like Justin Sun, describing the company’s mission to “transform global finance.” Similarly, in Sofia, Bulgaria, Don Jr. appeared at a crypto summit sponsored by Nexo, a firm previously fined by the SEC, underscoring how global networks of crypto interests and politics continue to intertwine.
The New Trump Economy
The overall picture emerging from the investigation is one of a family enterprise that has leveraged political prominence into unprecedented private wealth. In less than a year, the Trump Organization has reinvented itself from a traditional real estate and hospitality conglomerate into a digital asset powerhouse. Investors — particularly those abroad — see participation not only as a financial opportunity but also as a pathway into the orbit of one of the most influential political figures in the world.
While legal experts acknowledge that the ventures may not explicitly violate U.S. laws, they warn that the concentration of political authority and private enrichment within one family represents an ethical dilemma that challenges democratic accountability.
As World Liberty Financial expands its global reach, the Trump family’s transformation into a crypto-financial dynasty stands as a defining case study in the convergence of political influence, global capital, and the speculative promise of digital assets — marking a new and controversial chapter in the story of how power and profit intersect in the modern world.
(Source:www.reuters.com)
The Rise of World Liberty Financial
World Liberty Financial was conceived as an ambitious platform promising to “redefine the future of finance.” It aimed to create a peer-to-peer system where users could lend, borrow, and transact through blockchain technology without traditional intermediaries. However, despite its public promises, WLFI has yet to deliver the platform it announced at its launch. Even without a fully functioning product, it began selling “governance tokens” — digital assets that ostensibly gave holders a voice in company decisions. These WLFI tokens quickly became the foundation of the Trump family’s cryptocurrency empire.
Eric Trump personally promoted the venture during international appearances in Asia, Europe, and the Middle East, often meeting investors at crypto conferences. At one such event in Dubai, he reportedly pitched a group of investors, including Chinese businessman Guren “Bobby” Zhou, asking for multi-million-dollar investments in exchange for early access to the token sale. Though World Liberty’s technology appeared rudimentary to some participants, the family’s brand power proved irresistible. Within months, the project secured massive funding, including a $100 million investment from a UAE-based entity called Aqua1 Foundation, reportedly linked to Zhou.
The Trump family’s pivot to cryptocurrency has dramatically reshaped their financial landscape. According to Reuters calculations, the Trump Organization’s income surged 17-fold in the first half of 2025, reaching approximately $864 million, up from $51 million a year earlier. More than 90 percent of this windfall came from crypto-related activities — specifically the sale of WLFI tokens and other Trump-branded digital assets.
Of that total, WLFI token sales alone accounted for an estimated $463 million, with major purchases coming from foreign investors. The family also earned around $336 million from sales of the $TRUMP meme coin, another crypto venture that trades largely on the Trump brand. In total, the family’s digital asset income eclipsed all traditional Trump Organization earnings, such as golf resorts and real estate licensing, by a wide margin.
The Trumps’ crypto holdings have also appreciated significantly in paper value. Their portfolio includes WLFI tokens, $TRUMP coins, and shares in Trump Media & Technology Group, the parent company of Truth Social, which has also entered the crypto space. These assets could theoretically add over $11 billion to the family’s fortune if current valuations hold — though such assets are notoriously volatile and subject to steep price swings.
Political Influence Meets Financial Innovation
The investigation highlights a critical intersection between political power and private enterprise. Since Donald Trump’s return to the White House, his administration has taken a markedly crypto-friendly stance. Regulatory bodies such as the Securities and Exchange Commission (SEC) and the Department of Justice have scaled back enforcement actions, paused certain lawsuits, and relaxed oversight over crypto-related institutions. Ethics experts interviewed by Reuters describe this alignment between presidential policy and family profit as “legal but unethical,” suggesting that investors may view Trump-backed ventures as a way to curry favor or benefit from lenient regulation.
The ethical implications are particularly striking because of the president’s indirect financial interest. Although the Trump Organization is held in a trust managed by his children, the president remains the beneficiary. This arrangement means that profits from WLFI and other crypto ventures ultimately flow into a structure he can access after leaving office. Critics argue that this blurs the boundary between public duty and private gain in ways rarely seen in U.S. history.
Foreign Investors and Ethical Gray Zones
A notable feature of the Trump family’s crypto empire is its heavy reliance on foreign investors. An analysis by blockchain analytics firm Nansen found that 36 of the top 50 crypto wallets holding WLFI tokens were linked to overseas buyers, with holdings worth over $800 million. By contrast, only four wallets were tied to U.S. investors, most notably Alt5 Sigma, a Nasdaq-listed blockchain services company that purchased $750 million worth of WLFI tokens. The Trump family reportedly earned about $500 million from this deal alone.
Among other major investors is Justin Sun, a Hong Kong-based crypto entrepreneur previously charged by the SEC for fraud and unregistered securities sales. After Trump’s return to office, the SEC paused its case against Sun, and he increased his WLFI holdings to $75 million. In February 2025, Sun received a presidential pardon, an event that raised eyebrows among ethics observers though no formal link between his investment and the pardon has been established.
A separate line of business under the WLFI umbrella involves a stablecoin called USD1, pegged to U.S. dollar assets. In May 2025, UAE state-controlled investment firm MGX, chaired by Sheikh Tahnoon bin Zayed Al Nahyan, used the USD1 stablecoin to buy a $2 billion stake in Binance, the world’s largest crypto exchange. Because MGX is a foreign government entity, U.S. lawmakers have questioned whether the transaction could violate the Emoluments Clause of the Constitution, which bars officials from receiving financial benefits from foreign states.
The Trump Brand as a Financial Magnet
Analysts agree that much of the Trump family’s success in crypto stems from the power of the Trump name rather than technological innovation. WLFI’s products offer limited functionality compared to established crypto platforms, and its stablecoin’s circulation remains modest. Yet investors see the Trump name as an access point — a chance to associate with political power and gain potential advantages in a deregulated environment. As finance professor Seoyoung Kim put it, “Without the Trump name, you wouldn’t see World Liberty Financial raising this kind of money.”
World Liberty’s leadership structure reinforces the family’s involvement. The company lists Donald Trump Jr., Eric Trump, and Barron Trump as co-founders, alongside billionaire developer Steven Witkoff and his sons. Promotional materials have even featured President Trump himself as “Co-Founder Emeritus,” though a footnote clarifies he stepped back after assuming office. Despite disclaimers, this imagery strengthens the perception of presidential endorsement, which continues to draw investors seeking legitimacy and influence.
The Trumps’ international efforts to market WLFI and related ventures resemble a political roadshow disguised as a business campaign. Donald Trump Jr. and Eric Trump have attended conferences across Europe and Asia, meeting with crypto executives and policymakers. At one such event in Dubai, Eric Trump shared the stage with WLFI co-founder Zach Witkoff and investors like Justin Sun, describing the company’s mission to “transform global finance.” Similarly, in Sofia, Bulgaria, Don Jr. appeared at a crypto summit sponsored by Nexo, a firm previously fined by the SEC, underscoring how global networks of crypto interests and politics continue to intertwine.
The New Trump Economy
The overall picture emerging from the investigation is one of a family enterprise that has leveraged political prominence into unprecedented private wealth. In less than a year, the Trump Organization has reinvented itself from a traditional real estate and hospitality conglomerate into a digital asset powerhouse. Investors — particularly those abroad — see participation not only as a financial opportunity but also as a pathway into the orbit of one of the most influential political figures in the world.
While legal experts acknowledge that the ventures may not explicitly violate U.S. laws, they warn that the concentration of political authority and private enrichment within one family represents an ethical dilemma that challenges democratic accountability.
As World Liberty Financial expands its global reach, the Trump family’s transformation into a crypto-financial dynasty stands as a defining case study in the convergence of political influence, global capital, and the speculative promise of digital assets — marking a new and controversial chapter in the story of how power and profit intersect in the modern world.
(Source:www.reuters.com)
