A cryptocurrency firm in which the Trump family owns a 60% stake, launched in September 2024. Donald Trump is listed as "chief crypto advocate"; his sons are on the "team". Steve Witkoff, Trump's Middle East envoy, is "co-founder emeritus"; his son Zach Witkoff is a "co-founder".
In March 2025 the firm launched USD1, a stablecoin pegged to the American dollar. USD1 rose to a market capitalisation of more than $2bn after MGX, an Abu Dhabi government investment firm, used it to invest $2bn in Binance, making it the world's seventh-largest stablecoin. Binance reportedly helped build the stablecoin for WLF, though Binance denies this. The MGX transaction netted the Trumps millions. Two weeks after the deal, Trump agreed to let the UAE buy the most coveted AI chips—a privilege denied by the Biden administration over Emirati chumminess with China. Negotiating the chip deal for the Americans was Steve Witkoff, whose son Zach is a co-founder of WLF; opposite him was the brother of the Emirati crown prince, the chairman of MGX.
World Liberty Financial has pursued international partnerships, including a deal with the Pakistan Crypto Council (established by Pakistan's finance minister in March 2025) to help develop blockchain products and tokenise real-world assets. The financial terms were not disclosed.
The Trump family's combined cryptocurrency holdings—including World Liberty Financial and the $TRUMP meme coin—were worth billions by mid-2025, making crypto possibly the largest single source of the family's wealth.
Three-quarters of the proceeds from the sale of its tokens flow to DT Marks DEFI LLC, an entity linked to the Trump family. In March 2025 WLF said it had sold $550m-worth of tokens to global investors, implying a profit of $413m on the deals. Justin Sun, a Chinese-born investor who previously served as the representative of Grenada to the World Trade Organisation, was an early buyer of WLF tokens through his crypto company Tron. The Securities and Exchange Commission paused its market-manipulation case against Mr Sun earlier in 2025. In April 2026 Mr Sun filed a federal lawsuit against WLF, alleging his tokens had been frozen after other buyers were allowed to sell, costing him $276m. The suit claims that WLF retaliated after Mr Sun refused to buy $200m-worth of its stablecoin and promote it on Tron. Zach Witkoff, the firm's chief executive, called Mr Sun's claims "entirely meritless". In April 2026 footage surfaced of Mr Witkoff being arrested in 2022 on a cocaine charge outside a Miami nightclub (the charges were later dropped).
A footnote on the firm's website cautions that references to the Trump family "should not be construed as an endorsement". A spokesman says the firm is a private enterprise with no political affiliations and that nobody in the Trump administration is involved in its management.
"It is better for civilization to be going down the drain than to be coming up it."