Trump Family to Receive 75% Revenue from New Crypto Platform
The post Trump Family to Receive 75% Revenue from New Crypto Platform appeared on BitcoinEthereumNews.com.
The 2024 U.S. election cycle is witnessing an unprecedented convergence of cryptocurrency and politics, reshaping campaign finance and introducing novel ethical considerations. With over $119 million in crypto donations to political campaigns and $1.9 billion wagered on prediction platforms like Polymarket, digital currencies have emerged as a significant force in the political arena. Cryptocurrency has transitioned from a fringe technology to a mainstream financial tool in politics. Its adoption by campaigns reflects a broader trend of digital assets permeating various sectors of the economy and society. This shift is particularly notable given the traditional conservative approach to campaign financing. World Liberty Financial: A Case Study in Crypto-Politics Convergence At the forefront of this trend is World Liberty Financial (WLF), a decentralized finance (DeFi) project with ties to former President Donald Trump. The project’s structure and timing raise important questions about the intersection of business interests and political campaigns: Revenue Distribution: 75% of the platform’s net protocol revenue is allocated to the Trump family, without operational liabilities. Financial Structure: DT Marks DEFI LLC, a Trump-affiliated entity, is set to collect profits from fees, token sales, and advertising revenue. Initial Offering: WLF launched with ambitious targets, aiming to raise $300 million at a $1.5 billion valuation. Token Allocation: The Trump family has been allocated 22.5 billion WLFI tokens, valued at approximately $337.5 million. Timing and Ethical Considerations The launch of WLF in close proximity to the 2024 presidential election presents several points of consideration: Evolving Stance: Trump’s embrace of cryptocurrency marks a significant shift from his previous criticisms of digital assets. Pioneering Move: Trump becomes the first major presidential candidate to accept campaign donations in cryptocurrency. Conflict of Interest Concerns: The timing of the WLF launch raises questions about the separation of business interests and political campaigns. Regulatory Scrutiny: The project may…
Filed under: News - @ October 18, 2024 11:26 am