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The Guardian - US

Technology

Guardian staff and agencies

Trump fortune balloons by billions after family firm’s crypto token starts trading

Donald Trump Jr. Eric Trump World Liberty Crypto World Liberty Financial Cryptocurrency

men in suits cheer on stage — Eric Trump celebrates with his brother Donald Trump Jr and others with the ringing of the Nasdaq opening bell on 13 August. Photograph: Spencer Platt/Getty Images

The Trump family’s cryptocurrency venture, World Liberty Financial, put its namesake digital tokens up for sale on Monday, adding some $5bn in paper value to Donald Trump’s family fortune. The token, known as $WLFI, fell in value on Monday in their first day of trading.

The World Liberty tokens were sold to investors after the Trump family and its business partners last year launched the venture, a decentralized finance platform that has also issued a stablecoin, a cryptocurrency meant to maintain a specific price by tying its value to a specific asset.

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