World Liberty Financial

In 2024 the trump Family founded World Liberty Financial.

About 60% of the company is owned by trump affiliates.

About 40% is thought to be owned by various other founders of the entity, including some people named Witkoff.

The company seems to have two functions.

1. It sells WLFI governance tokens. WLFI governance tokens are "minted" not "mined".  Mined coins like Bitcoin are the classical product of a lights out data center chugging endlessly through an unbelievably complicated algorithm, the result of which is an occasional crypto coin. "Minted" coins are the product of the terms and conditions of a "smart contract".  A "smart contract" is a snippet of computer code that defines the terms, conditions and characteristics of the existence of that coin. Smart contracts eliminate the need to mine new tokens by allowing the contract creator to include a simple ‘mint’ function that produces tokens on demand. That "smart contract" is then hosted by various market standard blockchains. WLFI governance tokens have one function: they impart to the holder a say in the governance of World Liberty Financial. While the coins have no intrinsic value, they do have a market: they are currently worth about five cents each. Proceeds from the sale of WLFI are deposited with BitGo Trust Company which is a privately held company. Of the initial $4 billion issued, $1 billion have been purchased. Since that valuation was not discovered by mining or intrinsic value, it was created by the price at which WLFI tokens were sold to investors, including large private placements and structured deals. 

2. It sells USD1 stablecoins which are dollar denominated crypto coins. World Liberty Financial USD1 stablecoins are minted, not mined. Buyers send dollars or dollar-denominated securities to BitGo Trust Company. BitGo holds the dollars in custody. World Liberty Financial invokes the applicable block chain resident smart contract and the tokens are minted and deposited in the depositor's wallet. Dollars remain with BitGo until redemption. It is not known what the interest earning implication of those cash and cash-like holdings are, or what if any, kickback of those interest earning opportunities to the trumps might be.

Of the two products - WLFI governance tokens and USD1 stablecoins - WLFI governance tokens are by far the more profitable since they cost nothing and acquire value from a market driven by entities and individuals that desire influence with and say in the governance of a trump Family enterprise, and influence with the trumps themselves, perhaps even including the president. 

75% of proceeds from the sale of WLFI governance Tokens go to the trump Family.

By the end of 2025 the trump Family is thought to have received $1 billion in proceeds from those sales.

Not a bad day's proceeds for something with no intrinsic value; and since there are 3 billion more - at today's market price - waiting to be sold, and 96 billion in the hopper after that, the trumps' windfall can't be because they are selling something that is scarce.

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There is more.

But this has taken all my energy for researching, thinking and writing for today.

So, later.