The crypto project World Liberty Financial (WLFI) is structured so that 75% of net profit goes to the company DT Marks DEFI LLC. This is a Delaware entity directly linked to Donald Trump and his family. At the same time, they are effectively shielded from any legal and financial liability for the project’s operations.
On November 24, House Democrats published an internal report in which WLFI is called a key element of the president’s personal enrichment scheme. Congressman Jamie Raskin stated that Trump “turned the Oval Office into the most corrupt crypto startup in the world.”
The conflict of interest mechanism here is as direct and obvious as possible. Donald Trump is simultaneously shaping crypto policy from the White House and owns a large stake in a DeFi project whose value directly depends on those same decisions. This is not a matter of perception. It is a feature of the project’s very structure.
What the WLFI Revenue Model Means and Why It Alarms Experts
The main concerns among ethics specialists are not about the politics surrounding the project, but the income distribution scheme of World Liberty Financial itself.
According to the project’s Gold Paper, the company DT Marks DEFI LLC, through which the Trump family receives income, takes 75% of the DeFi platform’s net profit. At the same time, the legal structure is set up to completely remove operational responsibility from them. What matters is how this works in practice: the money flows to the Trumps, but the risks do not.
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The organization Citizens for Responsibility and Ethics in Washington (CREW) and other observers have already noted that such a model has never existed before in the relationship between a sitting president and a commercial project.
According to estimates, the Trump family has already received at least $890 million in income from WLFI. At the same time, their tokens are now valued at about $3.8 billion, even though they did not invest their own funds at the project’s launch. This is not a classic founder’s stake earned through risk. It is a right to income based on name and political influence.
Total value locked in WLFI. Source: Tokenterminal
The foreign investment factor only amplifies the problem embedded in the project’s very structure. Justin Sun, who was charged by the SEC with fraud and market manipulation, invested $75 million in WLFI tokens. Later, his case with the SEC was closed.
The Aqua 1 fund from the UAE, which analysts link to structures related to the Chinese state-owned CNPC, transferred $100 million in stablecoins to the project in the summer of 2025. Meanwhile, according to Reuters, the origin of the funds and the terms of the deal remain unclear. The 60 Minutes report on November 17, 2025, also mentioned a deal between Binance and MGX for $2 billion, conducted through the WLFI USD1 stablecoin. It was linked to the pardon of Binance founder Changpeng Zhao by Donald Trump.
Within the crypto industry, WLFI is increasingly described as a tool for buying influence under the guise of a DeFi project. Some institutional investors who were offered so-called “mutual investments” refused to participate, considering such terms unethical.
The absence of major institutional players in WLFI orders, where most activity comes from retail investors, may indicate that professional capital has reached the same conclusions.
Earning on Crypto Policy: The Conflict That Follows WLFI
Since January 2025, the Trump administration has been actively promoting crypto-friendly reforms. And every such initiative that supports the market simultaneously strengthens the position of World Liberty Financial.
The GENIUS Act, which Trump supported to regulate stablecoins, effectively creates a legal framework for USD1. This is WLFI’s own stablecoin, and such changes came just in time for the project.
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The regulatory initiative FIT21, which redistributes powers between the SEC and CFTC, also reduces the burden on DeFi platforms like WLFI.
The softening of the SEC stance under the Trump administration is not considered a coincidence by critics, especially in light of the Justin Sun case. When the president’s family owns $3.8 billion worth of tokens linked to a DeFi project, he has a direct financial interest in easing regulation of this sector.
The White House claims that Trump’s assets are in a trust managed by his children and that there is no conflict of interest. But here, the nuance is important. If the trust is controlled by his own children, who participate in the project, it is hard to call this a real separation by any ethical standard.
As DeFi regulation develops, it is becoming increasingly difficult to write off the WLFI structure as a technical detail. In January 2026, the project applied to the OCC for a national trust bank license, listing Zack Witkoff as the proposed president. If the application is approved, WLFI will be able to reach the level of regulated banking infrastructure.
The stakes here are far from abstract. We are talking about billions and decisions that are enshrined at the legislative level.
