The Trump family’s cryptocurrency venture, World Liberty Financial, surged in value before dipping and losing most gains on its first day of market trading.
Still, the family amassed $5 billion due to an unusual insider arrangement. The trading debut appears to be the biggest financial success for the president’s family, or any president’s family, since President Donald Trump’s inauguration in January.
The organizers at World Liberty did not previously allow the token to be publicly traded, so after the 35,000 original buyers purchased about $550 million worth of the tokens in the spring, they were barred from easily selling them. In July, organizers voted to lift that restriction, setting the stage for the token’s trading debut on Monday.
The Trump family controls about 22.5 billion of
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