Trump Family Strengthens Control Over WLFI Project Amid $550 Million Token Sale

On April 1st, COINOTAG News reported that the Trump family is enhancing its grip on WLFI, a crypto project initially proposed prior to Trump’s presidency and currently in development. A recent Reuters article detailed how the Trump family established WLF Holdco LLC earlier this year, solidifying their control. The newly formed entity, DT Marks DeFi LLC, holds a significant 60% stake, which is pivotal for managing protocol advancements. The identity of the remaining 40% owner remains undisclosed, raising questions about the governance of the project. Notably, this restructuring means that WLFI’s co-founders, Zak Folkman and Chase Herro, are no longer classified as the primary decision-makers. To date, WLFI has successfully secured $550 million through the sale of its tokens to accredited and non-accredited investors alike. Documentation from the launch indicates that the Trump family could garner up to 75% of the net proceeds from these token sales.