The Trump Family Holds at Least 60% of WLFI Through New Holding Company

BlockBeats News, April 1st, According to The Block, the Trump family appears to be strengthening its control over WLFI. WLFI was announced by Trump before taking office but is still in the development stage. According to a report released by Reuters on Monday, the Trump family further consolidated its control over World Liberty in January by establishing WLF Holdco LLC. DT Marks DeFi LLC, an affiliate entity of Trump and some of his family members, holds a 60% stake in the new company, WLF Holdco LLC, which holds the sole membership interest in WLFI, responsible for overseeing protocol development and operating the WLFI governance platform. Although the ownership of the remaining 40% is currently unclear, this adjustment seems to have removed WLFI co-founders Zak Folkman and Chase Herro as the "controlling party" of the platform.

As of now, WLFI has raised a total of $550 million by selling WLFI tokens to accredited investors in the United States and non-accredited investors globally. According to documents released by the project at its launch, the Trump family may receive 75% of the net proceeds from this token sale.