Trump-Connected Company Pulls Back From Family Crypto Business

President Donald Trump-linked company DT Marks DeFi LLC has reduced its stake in World Liberty Financial, a cryptocurrency project backed by the U.S. first family.

What Happened: According to World Liberty’s website, DT Marks DeFi holds a 40% equity interest in the holding firm behind World Liberty Financial, marking a 20-point reduction from the 60% stake it held previously.

Forbes reported that the stake reduction was carried out quietly. It said that DT Marks Defi held a 75% interest in World Liberty Financial at the end of December, citing a financial disclosure.

The company also holds World Liberty Financial’s governance token WLFI and is “entitled” to receive 75% of the proceeds generated through the sale of the token.

World Liberty Financial didn’t immediately return Benzinga’s request for comment.

Why It Matters: World Liberty Financial was launched last year and has been a significant source of income for the Trump family. According to the president's latest financial disclosure, it earned him $57.4 million last year, positioning it as one of his primary sources of income.

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Donald Trump Jr. said that his father doesn’t get involved with the venture and it’s “all walled off.”

World Liberty Financial has focused on promoting dollar-backed stablecoins and decentralized finance applications. The project is inspired by Trump, although the disclaimer states that none of its offerings are political or related to any political campaign.

Trump’s three sons, Donald Jr., Eric, and Barron, are listed as the co-founders. Earlier this year, it launched a dollar-pegged stablecoin, World Liberty Financial USD (USD1), on Ethereum ETH/USD and BNB Chain BNB/USD.