World Liberty Financial

World Liberty Financial (WLF) is a decentralised finance (DeFi) protocol associated with the Trump family, launched in late 2024. It issued the WLFI governance token, with 75% of revenues flowing to the Trump Organisation and affiliated entities. The project became a flashpoint in Congress when Democratic senators inserted ethics provisions into the CLARITY Act barring government officials and their family members from profiting from Cryptocurrency while in office, provisions directly targeting WLF.

The ethics clause stalled the Senate Banking Committee markup, delaying it to late April with a May floor deadline. If Senate passage slips past May, the legislation is unlikely to clear before the November 2026 midterms, leaving crypto regulation in limbo. The Trump family's financial interest in WLF created a direct conflict between the administration's stated support for crypto-friendly legislation and the ethical constraints that Democrats demanded before they would allow the bill to advance.

WLF raised approximately $590 million in its initial WLFI token sale. The project's ties to the Trump Organisation have been cited by international financial regulators as a governance concern, particularly given the absence of arms-length oversight. WLF represents the first instance of a sitting US president's family holding a direct financial stake in an industry whose federal regulation was actively being shaped by that president's administration.