Key Highlights
- The Trump family may have cut its ownership in World Liberty Financial from 60% to 40%, as revealed in recent disclosures from their website.
- This adjustment comes as the U.S. Senate prepares to advance a bill aimed at regulating stablecoins, including those associated with WLFI.
Context
As stablecoins rise in significance in U.S. policy discussions, the Trump family’s decision to offload approximately 20% of their stake appears to coincide with legislative movements. The family, through DT Marks DEFI LLC, remains affiliated with 40% of the controlling company of WLFI, which deals in a proprietary stablecoin.
The legal documentation indicates that DT Marks DEFI is connected to Donald Trump and certain family members. Despite controversies arising over Trump’s involvement in his own ventures, the legislative process concerning stablecoins is advancing through Congress, potentially benefiting the USD1 stablecoin managed by World Liberty Financial, pending conformance to stringent reserve requirements.
Recent criticisms have come from legislators, particularly Elizabeth Warren, Richard Blumenthal, and Chris Murphy, challenging the implications of the president’s business ties amid efforts to regulate digital currencies.
With the bill presently with the House of Representatives, scrutiny around Trump’s dealings in crypto remains high, exacerbated by recent public discussions on his personal memecoin ventures and NFT operations. These connections continue to impact crypto regulation debates.
