The Trump family will receive 75% of WLFI's net income and will not bear any liability
2024-10-18 00:32
Odaily News The Trump family's crypto project World Liberty Financial (WLF) has released a 13-page document "World Liberty Gold Paper" detailing the project's mission and token distribution plan. The document shows that the Trump family will receive 75% of the project's net proceeds without any liability. According to the document, DT Marks DEFI LLC, a Delaware company associated with Trump, will receive 75% of the net agreement income. The Trump family will receive 22.5 billion WLFI tokens, worth approximately $337.5 million based on this week's offering 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 "have nothing to do with any political activities." The remaining 25% of the net agreement income will belong to Axiom Management Group (AMG), a Puerto Rican company wholly owned by project co-founders Chase Herro and Zachary Folkman. AMG has agreed to allocate half of its profit rights to WC Digital Fi, an affiliate of Trump's close friend and political donor Steve Witkoff and some of his family members.
