Trump family gets 75% of crypto coin revenue, has no liability, new document reveals

Source: CNBC

Donald Trump’s crypto project, World Liberty Financial, published a 13-page document on Thursday, describing its mission, how tokens can be allocated, and indicating that the Republican presidential nominee and his family could take home 75% of net revenue.

In what it calls the “World Liberty Gold Paper,” WLF said the Trump family will receive 22.5 billion ”$WLFI” tokens, currently valued at $337.5 million, based on the price of 1.5 cents per token at launch this week.

Trump, who’s in a virtual dead heat with Vice President Kamala Harris as the election reaches its closing stages, has spent months pumping his crypto project, previously branding it as “The DeFiant Ones,” a play on DeFi, short for decentralized finance.

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The paper released on Thursday shows that Trump and his family assume no liability. It indicates that none of them are directors, employees, managers or operators of WLF or its affiliates, and said the project and the tokens “are not political and have no affiliation with any political campaign.”

Read more: https://www.cnbc.com/2024/10/17/trump-crypto-project-allows-ex-president-family-to-make-75percent-of-revenue.html