At the trail of the campaign last year, the Donald Trump candidate promised the crypto industry that he would become the first president who would accept Blokchain technology. At the time, he did not find that he also planned to cry the cornerstone of his growing business empire.
On Friday the white house first let Trump Financial Disclosure Report As the President, revealing new details about his Web business venturesincluding his golf courses, sponsorship offers and public trading media groups. The report also gave a window to the Trump crypto platform, the world freedom of financial, which his sons announced last summer.
According to disclosing, Trump earned over $ 57 million from the sale of tokens on the platform and has almost 16 billion tokens and crypto versions of voting shares that launched world freedom. Based on the early sale of those tokens for accredited investors, which valued them between 1.5 and five cents, Trumps of Farms could be worth almost $ 1 billion, although the token is not currently trading. Bloomberg recently estimated Its total network is worth about $ 5.4 billion.
As state guards debate This Trump enterprise in the crypt industry represent a conflict of interest with Congress ban BlockSchain Regulation, the new report provides a first significant view of the increasing entrances to the president with digital means.
The first crypto president
Before his third drive for the president, Trump expressed skepticism crypto, describing Bitcoin as a “fraud” just a few years ago. But more and more accepted the block industry at the trail of the campaign last year as a company such as Coin And Ripple poured tens of millions of dollars in donations – reaction to the solution of Biden administration in the sector.
Trump not only is technology on industrial events including a Bitcoin Conference last summer, but also began to explore their own ventures in space. Trump had previously launched NFTS series, but newer projects have been full full of crupto business, primarily through the vehicle of world free financial resources.
The platform, first announced by his son Eric last August, promised a “new era of finance”, although its exact function is still unknown. In the coming months, world freedom has launched a series of products. This included a control token, as well as Stablecoin in the form of dollars called USD1, which emirates the Investment firm used To invest $ 2 billion into a leading biznine crypto ekchange in May.
Although the exact ownership structure of world freedom, as well as Trump’s potential profit from the sale of tokens, is largely opaque, the financial disclosure reports, including $ 57 million in sales of $ 57 million. World Freedom offered VLFI accredited investors, including Chinese crypto entrepreneurs Justin Sun, previously faced with charges, and commission for exchange after Trump attended the function.
The report does not include detail about Trump’s second main CRIPTO project – His Memecoin, is also called Trump, which is launched weekend before his inauguration. Although Trump Memecoin fell in value from her release, rejecting market capitalization in January at about $ 2 billion today, remained a source of potential profit and controversy for Trump, whose organization probably has about 80% of the total bid. Trump is hosted dine for upper memecoin bearers in May, Criticism for drawing From the Prophets across the passage and even industrial lobbyists.
Trump continues to advance the priorities for the crypto industry, including legislation in the Congress, which will establish regulation for the issuance of stablecoin and token. But even as real estate dominates his farm, on Friday, the financial disclosure report shows the increasing significance of the crypting of his business empire.
This story is originally presented Fortune.com
