- The Trump family gained $1.3 billion from American Bitcoin’s debut and World Liberty Financial’s launch.
- Eric Trump’s stake in ABTC was valued at over $500 million, and WLFI added $670 million to the family’s net worth.
The United States President Donald Trump’s family increased their wealth by $1.3 billion this week. The surge came from a market launch of American Bitcoin (ABTC) and earnings associated with World Liberty Financial (WLFI), a decentralized finance venture, which is affiliated with the Trump family.
Boost From Crypto Assets
World Liberty Financial, according to Bloomberg, added $670 million to the Trump family. Eric Trump, a co-founder of American Bitcoin to which he has a stake, was worth over $500 million following the trading debut of the company on Wednesday.
ABTC shares temporarily rose to $14 and then dropped by over 50% to $6.24. The Trump family’s net worth calculation was done using the prices on Wednesday in the market.
The reported growth excludes approximately $4 billion in WLFI tokens, which the family holds but is subject to lock-up restrictions. The family wealth, without those tokens, is over $7.7 billion, as revealed by the Bloomberg Billionaires Index.
Source: Bloomberg
Market Launches and Volatility
World Liberty Financial made its exchange debut on Monday. A total of 24.6 billion WLFI were released to the market with the launch. Prices shot up in early trading but fell more than 40 percent shortly after.
As detailed in our last news piece, American Bitcoin was listed on U.S. exchanges on Wednesday following a merger with Gryphon Digital Mining. The merger made ABTC a publicly traded crypto mining firm.
The stock trading of ABTC was halted five times on its first day in the market because the price fluctuated drastically. Stock reached up to highs of $14 and closed at about $7.36 per share.
The Trump family’s entry into the crypto industry has increased attention on digital assets in the United States. The advocates claim that their participation gives legitimacy to an industry under regulatory scrutiny and uncertainty in recent years.
Nevertheless, Democratic lawmakers have become concerned. According to critics, the personal relations of the president with crypto projects pose conflicts of interest.
As previously mentioned in our report, Such criticism was denied by Eric Trump in his interview. “My father has absolutely nothing to do with this venture,” he emphasized. Eric Trump added that his father is running a nation and is not involved in the businesses in any way, shape, or form.
Regardless of the political controversy, the financial benefits are obvious. The Trump family has now taken a major interest in a decentralized finance protocol as well as a publicly-traded mining business. Both entities saw volatile trading during their respective launches, but still lifted the family’s wealth.
