New documents show that the Trump family will receive 75% of WLFI's net income without bearing any liability

2024-10-18 08:24:54
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ChainCatcher news, according to CNBC, the Trump family's cryptocurrency project World Liberty Financial (WLF) has released a 13-page "World Liberty Gold Paper" document detailing the project's mission and token distribution plan. The document shows that the Trump family will receive 75% of the project's net profits while incurring no liabilities.

According to the document, the Delaware company DT Marks DEFI LLC, associated with Trump, will receive 75% of the net protocol revenue. The Trump family will receive 22.5 billion WLFI tokens, valued at approximately $337.5 million based on this week's issuance price of 1.5 cents. The document emphasizes that Trump and his family members are not directors, employees, managers, or operators of WLF or its affiliates, and states that the project and tokens "are not related to any political activities."

The remaining 25% of the net protocol revenue will belong to the Puerto Rican company Axiom Management Group (AMG), wholly owned by project co-founders Chase Herro and Zachary Folkman. AMG has agreed to allocate half of its revenue rights to Trump's close friend and political donor Steve Witkoff and affiliated companies of some of his family members, WC Digital Fi.

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