(The Hill) — The Trump family’s cryptocurrency platform, World Liberty Financial, indicated in a report released Thursday that DT Marks DEFI LLC, a Delaware-based company connected to the former president, could get 75 percent of WLF’s protocol revenues.
World Liberty Financial, spearheaded by two of Trump’s sons — Eric Trump and Donald Trump Jr.— was launched nearly a month ago and came as the industry has increasingly expressed frustration with the approach that the Biden administration and Securities and Exchange Commission Chair Gary Gensler have taken toward crypto enforcement.
In the report, net protocol revenues “include revenues to WLF from any source, including without limitation platform use fees, token sale proceeds, advertising or other sources of revenue, after deduction of agreed expenses and reserves for WLF’s continued operations.”
Bolton calls death of Hamas leader ‘a good day for the whole world’
The report notes that the platform and the WLFI tokens, released earlier this week, are not political and are not affiliated with any political campaign. It also said that Trump and his family assume no liability.
The report said that $30 million will be held in a reserve dedicated to operating expenses and obligations.
Axiom Management Group LLC, a Puerto Rican limited liability company, can receive 7.5 billion WLFI tokens and 25 percent of net protocol revenue, according to the report.
Axios reported Thursday that the platform has sold 4 percent of its tokens.
