Dude, check this out! Donnie Trump’s crypto gig, World Liberty Financial, just dropped a 13-page document that spills the tea on their mission and how they’re dishing out tokens, revealing that Trump and his crew could be pocketing a whopping 75% of the cash flow.
In this thing they call the “World Liberty Gold Paper,” WLF straight up states that the Trump fam is set to score 22.5 billion “$WLFI” tokens, which is currently worth around $337.5 million – that’s based on 1.5 cents per token at launch week.
So, here’s the scoop: Trump’s in a major showdown with Vice President Kamala Harris as the election is heating up, and he’s been hyping up this crypto project for months, calling it “The DeFiant Ones,” a clever nod to decentralized finance, bro.
The project just launched their WLFI token, looking to rake in $300 million with a $1.5 billion valuation during the initial sale. But hold up – as of Thursday, they’ve only sold $12.9 million worth, according to their site. Kinda rough, right?
The paper that dropped on Thursday makes it clear that Trump and his crew are off the hook for any liabilities. They’re not directors or anything for WLF or its affiliates, and it says the whole deal “is not political” and isn’t linked to any campaign.
WLF didn’t hit us back when we asked for a comment. The Trump campaign passed the ball to the Trump Organization, but they ghosted us too.
Usually, crypto projects drop white papers before launching their coins, so investors can get the scoop on the goals and token breakdown. WLF’s paper reveals that a Delaware-based company tied to Trump, DT Marks DEFI LLC, is set to snag three-quarters of the net revenue.
WLF is pitching itself as a crypto bank where peeps can borrow, lend, and invest in digital coins. The doc spells out that net protocol revenue includes cash from all sources, like platform fees and token sale profits, after cutting some costs to keep things running.
They’re setting aside $30 million of that initial cash flow to cover operating expenses and other money stuff.
Now, the other 25% of the net revenue is earmarked for Axiom Management Group, or AMG, run by Chase Herro and Zachary Folkman, who are two of the co-founders.
Folkman used to have a company called Date Hotter Girls and helped out on Dough Finance. Herro was in on Dough and launched Pacer Capital over a decade ago, which looks pretty much dead now.
AMG is cool with giving half of its rights to net revenues to a third LLC, WC Digital Fi, which is tight with Trump’s buddy and donor, Steve Witkoff, and some of his fam. Witkoff’s son, Zachary, is also a co-founder of the project.
Folkman previously mentioned that just 20% of WLF’s tokens would go to the founding team, including the Trump fam. The paper breaks down how the tokens will be split: 35% for the token sale, 32.5% for community growth and incentives, 30% for initial support, and 2.5% for the team and advisors.
But here’s the kicker: the fine print says these “anticipated token distribution amounts are subject to change.” We’re still left guessing where Trump and his fam fit in.
The paper even hails Trump as the “chief crypto advocate” while his three sons are all dubbed “Web3 ambassadors.” Total bro vibes, right?
