Stableecoins enjoy a moment in US political circles when the Senate just adopted a regulatory bill with large Bipartisan figures. As that moment approached, President Donald Trump and his family seemed to be approx. 20% of their share in the parent company that controls World Liberty Financial, a cryptic company that includes its own stableecoin.
DT Marks Defi LLC is a company that now owns approx. 40% of the holding company over WLFI, down from previous 60%, according to the legal information at the bottom of the platform’s website. DT Marks Defi is “a unit affiliated with Donald J. Trump and some of his family members,” it says.
Trump’s crypto relationship is extensive and has allegedly directly got him tens of thousands of millions of dollars, at least, but they have also taken a lead role in the debate on the regulation of digital assets in the United States. The StableCOin Law proposal, now in the hands of the House of Representatives, was temporarily stopped in the Senate as the Democrats made the noise of Trump’s own stablecoin operation.
Despite corruption complaints from legislators such as Senators Elizabeth Warren, Richard Blumenthal and Chris Murphy, arguing that it is inappropriate for the president to take a hand in the regulation of his own business, it is to promote a forward that the company complies with the company.
While Trump’s political allies and his administration claim his business ties are transparent, the family’s crypto relationship remains grim without full revelations of the business settings for the individual members, including the president. It is still unclear what the family’s specific ownership or leadership involvement can be with World Liberty Financial.
Representatives from WLFI and Trump’s business interests did not immediately respond to requests for comment from Coindesk.
And his growing bond to crypto doesn’t end there. Trump drew most of the recent criticism for his host of a private dinner to the leading investors in his personal Memecoin, many of whom were foreign nationals and went unidentified to the public. The disposable crypto skeptic has sold several rounds with non-funny symbols (NFTs); His media company announced this year that it raised $ 2.5 billion to build a Bitcoin Treasury; And son Eric has helped run a new Bitcoin mining. There are few corners of the industry that the president has no close connections to.
Read more: Trump’s Empire drew $ 57 million
