Trump Organization Unit Reduces Stake in World Liberty Financial Cryptocurrency Platform Amid DC Lawmakers’ Concerns
An affiliate company of US President Donald Trump’s business conglomerate, DT Marks DeFi LLC, reportedly reduced its stake in cryptocurrency platform World Liberty Financial (WLF) recently, according to a November 2024 report published by Forbes and newly available corporate filing data.
Forbes revealed that DT Marks DeFi LLC, which allegedly serves as a holding company controlled by the Trump name, decreased its fractional ownership in WLF significantly over the preceding eleven days. The company’s stake in the firm is reported to have dropped from 75 percent at the end of December to an undetermined amount less than or equal to 40 percent holdings indicated briefly appeared following the period June 8th.
While the precise value of the reduction-based revenues for the Trump family, if any were taken out, could not be definitively calculated, Forbes modeling suggests that divesting this proportion of WLF stock could yield proceeds exceeding several million dollars.
The withdrawal occurs as prominent members of the US legislative branch have publicly voiced increasing unease and demanded investigations into President Trump’s apparent financial entwined activities with the nation’s cryptocurrency sector. These concerns intensified alongside the launch by WLF of its own stablecoin, the US Dollar 1 (USD$1), in March 2024.
Stricter financial regulation for stablecoins emerged as a central theme addressed by the recently passed bill known as the GENIUS Act in the US Senate. This piece of legislation establishes regulatory frameworks for a specific type of stablecoin known by its category moniker “permissioned programmatically stable tokens.” Its passage achieved bipartisan sponsorship, including Republican endorsement.
However, the House of Representatives might be expected to present challenges to the bill’s progression, partially stemming from concerns raised by details of President Trump’s shifting crypto affiliations earlier this year. In response to concerns raised during this period, the president actively promoted the concept of swift passage through his official social media channels.
Persistent WLF Controversies Coincide with High-Raising Crypto Venture
World Liberty Financial has remained prominently situated at the center of controversy due to its association with Donald Trump. This positioning has allegedly complicated the enactment of policy stances related to cryptocurrency by the White House, amid the legislative maneuvering of the Republican majority in Congress.
Involvement of WLF in crypto matters reportedly reached $2 billion, involving potential transactions aiming for settlement via the platform’s USD$1 token. Recently, in May, an international investment submitted a record commitment of two billion US dollars to the popular crypto exchange Binance, with plans to utilize the WLF token system for the recording and execution of this trade.
The company achieved significant financial metrics by March 2024, reporting total investments of approximately $550 million positively received through two separate public token sales events. Figures appearing in available financial disclosures prior to June revealed more than $57 million added to the conglomerate’s reported earnings through the vehicle in question.
