World Liberty Financial (WLFI), the Trump family’s crypto project, is planning to release a stablecoin, raising concern over the US president’s exposure to the digital asset industry.
The project released a memecoin immediately prior to President Donald Trump’s inauguration, the price of which skyrocketed and crashed soon after, causing many to accuse WLFI of a pump-and-dump scheme.
WLFI has also made multimillion-dollar purchases of crypto tokens immediately prior to important crypto-related events the president has attended or announcements influencing the industry. WLFI purchased $20 million of various tokens ahead of the March 7 White House Crypto Summit.
As World Liberty Financial’s portfolio grows and regulator oversight disappears from the crypto industry, observers and legal scholars are becoming increasingly concerned over conflicts of interest within the Trump administration.
Son Eric Trump pumps his father’s memecoin ahead of the inauguration. Source: <a data-ct-non-breakable="null" href="https://x.com/EricTrump/status/1880670273768435759" rel="null" target="null"