Late last year, the Trump family-linked crypto project WLFI was launched. The project immediately attracted the attention of investors and caused a stir.
Founders and Owners
WLFI was founded in September 2024 and is led by Steve Witkoff and his son Zach. Chase Herro and Zach Folkman are also co-founders. The Trump family is prominent in the project, with President Trump listed as the “chief crypto advocate.”
Token Sale
The first WLFI token sale took place in October 2024 and raised about $300 million for the project. The second sale took place in January 2025 and raised $250 million. WLFI tokens will have voting rights on important protocol issues.
WLFI Portfolio
WLFI’s portfolio includes 13 different holdings, the largest of which is the USDC stablecoin. WLFI’s holdings in WBTC, SEI, and AVAX have performed the best. However, its large holdings in MNT, MOVE, ONDO, and ETH have suffered double-digit losses.
Conflicts of Interest and Stable Coins
Senators on the Banking Committee have called on regulators to address WLFI’s conflicts of interest. USD1, the project’s stablecoin, is traded on centralized exchanges.
President Trump’s post on Truth Social has raised concerns about insider trading. However, the project continues to grow, and its activities are under the spotlight from investors and regulators.
The Trump Administration’s Ties to Cryptocurrency
The Trump administration has dropped several lawsuits against crypto firms, and allies in Congress are drafting favorable legislation for the industry. Crypto firms like DWF Labs invest in WLFI.
The WLFI project continues to attract the attention of investors and crypto market participants. However, like any other project in this space, it faces challenges and the need to comply with regulatory standards.
