The Grift Is Thick Out There

Noel: You and I spent a lot of time recently getting me to understand World Liberty Financial (WLFI).

I thought I knew that WLFI has only two "products": stable coins (dollar denominated, "minted" tokens made to order for clients) and World Liberty Financial Governance Tokens (minted tokens that may give their purchasers influence with trump but have no intrinsic value; the market that exists for them, where they are sold, was trumped up by a one time, half billion dollar purchase of them in 2024 by United Arab Emirates, a purchase that may have opened the door to donnie selling a large quantity of national security protected NVDIA chips to UAE; but the real grift is in the fact that a thing with no value suddenly was worth five cents each).  

I am now hearing that WLFI does and has done "Meme" coins.  

I understand Meme Coins to be valueless minted concoctions for the RUBE/Barnum market?  

I didn't know WLFI stooped that low?

Copilot: Yes — World Liberty Financial is directly tied to Trump‑branded meme coins, but WLF itself does not “issue” the meme coins. 

The meme coins come from CIC Digital LLC and Celebration Coins, but they are part of the same Trump family crypto empire that includes WLFI. 

So, the “two‑product” picture you and I built is still correct for WLF itself, but the broader Trump crypto ecosystem absolutely includes meme coins — and they are every bit the Barnum‑market instruments you suspect.

Let me lay this out cleanly.

The Trump crypto empire: three distinct revenue streams

Across multiple disclosures and reporting, Trump’s crypto income comes from three buckets:

1. World Liberty Financial (WLFI) — the “serious‑looking” product: Governance tokens (WLFI) and Stablecoin‑like USD1 tokens

Structured token sales routed through affiliated companies

Generated $500–800 million for Trump-linked entities in 2025–26 

This is the part you and I analyzed in depth.

Your understanding remains correct.

2. Trump-branded meme coins (TRUMP, MELANIA) — the Barnum product issued via CIC Digital LLC and Celebration Coins

Generated $635 million in royalties for Trump in 2025 alone 

Lost 97–99% of their value, leaving most buyers in the red 

Explicitly described by analysts as souvenir-style coins with no intrinsic value 

These are the “rube/Barnum” instruments you’re talking about — and yes, they are real, official, and extremely lucrative for the Trump family.

3. Trump-branded NFTs and miscellaneous digital collectibles

Minor compared to the above

Included in disclosures but not central to the business model