Trump Family Seizes Control of World Liberty Financial: Power and Profits in the DeFi Revolution

World Liberty Financial, a crypto venture aimed at providing decentralized financial services, has been taken over by the Trump family, who now claim a majority of the profits. Industry experts express concerns over the centralized nature and governance of the project, raising questions about potential conflicts of interest.

World Liberty Financial has emerged as a major player in the decentralized finance (DeFi) space, with ambitions to offer financial services through cryptocurrencies, bypassing traditional banking intermediaries. However, recent developments have seen the Trump family take control of this crypto venture, owning a significant share of its revenues and operations.

The project, which raised over $550 million through governance token sales post-Trump's election win, has been criticized for its insider-friendly governance terms. The non-tradeable nature of its tokens contrasts the decentralized ethos of DeFi, sparking industry-wide debates about centralization and potential conflicts of interest.

With $WLFI token sales attracting high-level investors, many believe Trump's involvement could drive the venture's success. Nevertheless, concerns persist about the economic benefits for token holders and the political ramifications of a sitting president heavily invested in such an unregulated asset class.

(With inputs from agencies.)