President Donald Trump has reportedly pocketed tens of millions of dollars in income from World Liberty Financial (WLFI), his family-backed decentralized-finance platform.
According to a new report from the New York Post, records released by the Office of Government Ethics show that Trump’s stake in WLFI raked in just over $57.3 million for him, one of his largest sources of income in the past year.
WLFI, which was launched last year, was co-founded by Trump’s three sons – Donald Jr., Eric and Barron – and others as a response to what they say is the growing politicization of the banking system. Previously, Donald Trump Jr. said that his family was debanked after getting into politics and described the banking system as a “pyramid scheme.”
“There was a time… where I could call any single banker in New York City, they’d pick up the phone [and] I’d be able to get a loan for whatever real estate project I was doing across the street. Then we got into politics, and all of a sudden, they wouldn’t take your call. You couldn’t get financing. We were debanked.”
The disclosure reports that Trump’s personal crypto wallet is valued at between $1,000,001 and $5 million while listing millions of dollars worth of royalty payments he received for selling items with his name and likeness.
Some of the President’s noteworthy liabilities include $100 million worth of mortgage loans for various properties, hundreds of millions of dollars worth of lawsuits and tens of thousands of dollars worth of credit card bills.
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