Trump family owns at least 60% of WLFI through new holding company

Golden Finance reports that the Trump family appears to be strengthening its grip on WLFI, which was announced before Trump's inauguration but is still in the development stage. According to a Reuters report published on Monday, the Trump family further consolidated its control of World Liberty in January by forming WLF Holdco LLC. Among other things, DT Marks DeFi LLC, an affiliated entity of Trump and some of his family members, holds a 60 percent stake in the new company, WLF Holdco LLC, which holds the sole membership interest in WLFI and is responsible for overseeing the agreement to develop and operate the WLFI governance platform. While the ownership of the remaining 40% is unclear at this time, this realignment makes it appear that WLFI co-founders Zak Folkman and Chase Herro are no longer in control of the platform. To date, WLFI has raised a total of $550 million through the sale of WLFI tokens to qualified investors in the U.S. and non-qualified investors worldwide. According to documents released by the project at the time of its launch, the Trump family may receive 75 per cent of the net proceeds from this sale.