The Trump family’s cryptocurrency project, World Liberty Financial (WLFI), is ending 2025 on a particularly sour note. Launched with great fanfare in September 2024, the WLFI governance token has lost over 40% of its value since its public market introduction, raising numerous questions about the viability of this controversial initiative.
A Promising Launch That Turned Sour
When Donald Trump, then a presidential candidate, announced the launch of World Liberty Financial in September 2024, the project was presented as a major turning point for crypto policy in the United States. Led by his sons Donald Trump Jr. and Eric Trump, the fund quickly organized its first token sale in October 2024, selling approximately 20 billion WLFI tokens at $0.015 each and raising nearly $300 million.
A second token sale took place between January and March 2025, raising an additional $250 million with approximately 5 billion tokens sold at $0.05 each. The project appeared to be on an upward trajectory at the time, riding the crypto market’s bullish wave.
Massive Acquisitions in a Volatile Market
World Liberty Financial has been aggressive with its investments. The fund proceeded with significant cryptocurrency acquisitions, including $21.5 million in Wrapped Bitcoin (WBTC), Ether (ETH), and Move (MOVE). As of December 22, the portfolio also included substantial positions in USD1 (their own stablecoin launched in March), several Aave-linked assets, and Mantle (MNT).
In August, the project concluded a major deal with ALT5 Sigma Corporation as part of a $1.5 billion private placement. ALT5 exchanged 100 million common shares for WLFI tokens, essentially creating a crypto treasury.
A Staggering Fall: From $17 Billion to $8 Billion
Public tracking data for the Trump portfolio only began in September 2025, when its value reached over $17 billion at the peak of the year’s bull market. As of December 11, the fund’s assets were worth just under $8 billion, marking a spectacular 47% decline.
This plunge reflects not only the general crypto market correction but also growing concerns about potential conflicts of interest and controversies surrounding the project.
Controversies and Conflicts of Interest: A President Too Involved?
Historically, US presidents have distanced themselves from any business venture that could create a conflict of interest with their responsibilities as chief executive. Jimmy Carter famously placed his peanut farm in a semi-blind trust during his term.
Trump has taken the diametrically opposite approach, becoming actively involved in ventures that would directly benefit from his financial and political priorities. In September, as Bitcoin reached annual highs, the BBC reported that the Trump family’s stake in World Liberty Financial was worth over $5 billion, realized largely through contractual ownership of the majority of WLFI tokens.
Calls for Investigation and Money Laundering Allegations
As early as April 2025, Senator Elizabeth Warren and Representative Maxine Waters sent a letter to the SEC’s then-acting chair, Mark Uyeda, asking him to « preserve all records and communications regarding World Liberty Financial. » They urged the commission to determine the extent to which Trump’s involvement could compromise its ability to regulate effectively.
In November, Warren reiterated her call for a probe, following a report from Accountable.US claiming that World Liberty Financial had sold tokens to sanctioned entities tied to Iran, North Korea, and Russia.
White House Press Secretary Karoline Leavitt called the allegations « baseless, » accusing the media of « continued attempts to fabricate conflicts of interest. » For its part, World Liberty Financial stated it conducted Anti-Money Laundering (AML) and Know Your Customer (KYC) checks on potential buyers, refusing « millions of dollars from potential purchasers who failed the tests. »
A Growing Crypto Empire Despite Setbacks
The Trump family’s crypto ventures are not limited to World Liberty Financial. Trump Media and Technology Group Corp also operates the fintech brand Truth.Fi. In September, the company purchased 684.4 million Cronos (CRO) tokens for approximately $104.7 million in a 50% stock, 50% cash exchange with crypto exchange platform Crypto.com.
Eric Trump and Donald Trump Jr. have also founded and backed the crypto mining venture American Bitcoin. As of December 10, the company’s total Bitcoin holdings amounted to 4,784 BTC, according to Solid Intel.
Toward New Products in 2026: Redemption or Further Decline?
Despite this marked decrease in value, World Liberty Financial continues full steam ahead. On December 3, its co-founder Zach Witkoff announced that the project will launch a suite of real-world asset (RWA) products starting in January 2026.
Will this new initiative succeed in restoring the reputation of a project tarnished by controversy and financial losses? Crypto market investors and observers will closely monitor the development of this case in 2026, as the Trump family persists in its ambition to make the United States « the crypto capital of the world. »
The crypto market remains particularly volatile, and projects backed by political figures continue to raise major ethical and regulatory questions. The year 2026 will be decisive in determining whether World Liberty Financial can overcome its current obstacles or whether this project will remain in the annals as a warning of the dangers of mixing politics and cryptocurrency.
