Trump family gets 75% of crypto coin revenue, has no liability, new document reveals
Donald Trump's crypto project, World Liberty Financial, published a 13-page paper on Thursday laying out its mission and how tokens get allocated.
Donald Trump's crypto project, World Liberty Financial, published a 13-page document Thursday that described its mission and how tokens can be allocated, and that indicated that the Republican presidential nominee and his family could take home 75% of net revenue.
The launch of WLFI tokens and the involvement of the Trump family in the project is a complex and multifaceted story. Here are some additional details:
The Trump Family's Involvement
According to the WLFI paper, the Trump family will receive a significant portion of the net protocol revenues, with 35% of the total supply allocated to the token sale. This means that the Trump family will own a substantial portion of the WLFI tokens, which could give them significant influence over the project's direction and decision-making.
The paper also claims that the Trump family will assume no liability for the project, and none of them will be considered directors, employees, managers, or operators of WLF or its affiliates. However, this does not necessarily mean that they will have no involvement in the project's decision-making process.
DT Marks DEFI LLC
DT Marks DEFI LLC, a Delaware-based company connected to the former president, is set to receive three-quarters of the net protocol revenues. This company is listed as the sole owner of WLF, and it is unclear what the nature of this relationship is.
It is worth noting that the WLFI paper does not provide any information about the ownership structure of DT Marks DEFI LLC, or who the company's executives are. This lack of transparency has raised questions about the project's legitimacy and the motivations of its creators.
Axiom Management Group
Axiom Management Group, a Puerto Rico LLC wholly owned by co-founders Chase Herro and Zachary Folkman, will receive 25% of the remaining revenue. This company is listed as a key partner in the WLFI project, and it is unclear what the nature of this relationship is.
Chase Herro and Zachary Folkman are both listed as co-founders of the WLFI project, and they have both been involved in the development of other cryptocurrency projects. However, it is unclear what their role is in the WLFI project, or what their motivations are.
Steve Witkoff and Zachary Witkoff
The WLFI paper also reveals that Steve Witkoff, a close friend and political donor of the Trump family, as well as his son Zachary, will receive a portion of the net protocol revenues. Steve Witkoff has been a long-time supporter of the Trump family, and has made significant contributions to their campaigns and business ventures.
Zachary Witkoff is listed as one of the co-founders of the WLFI project, and he has been involved in the development of other cryptocurrency projects. However, it is unclear what his role is in the WLFI project, or what his motivations are.
The WLFI Paper
The WLFI paper is a lengthy document that outlines the project's mission, goals, and technical specifications. It claims that WLFI is a decentralized finance platform that will provide financial services to individuals and businesses.
However, the paper is also somewhat opaque, and it raises more questions than it answers. For example, it does not provide any information about the project's ownership structure, or who the key executives are.
It also does not provide any information about the project's technical specifications, or how the WLFI tokens will be used. This lack of transparency has raised questions about the project's legitimacy and the motivations of its creators.
The Trump Campaign's Response
When asked about the project, the Trump campaign referred questions to the Trump Organization, which did not immediately respond to a request for comment.
The Cryptocurrency Community's Response
The cryptocurrency community has been largely skeptical of the WLFI project, and many have questioned the project's legitimacy and the motivations of its creators.
Some have raised concerns about the project's ownership structure, and the involvement of the Trump family and their associates. Others have questioned the project's technical specifications, and the use of the WLFI tokens.
Overall, the launch of WLFI tokens and the involvement of the Trump family in the project is a complex and multifaceted story that raises many questions. While the project's proponents claim that it is a legitimate attempt to create a decentralized finance platform, many in the cryptocurrency community remain skeptical.
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