The Trump family holds at least 60% of WLFI shares through a new holding company.

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BlockBeats News, April 1, According to The Block, the Trump family appears to be tightening its grip on the WLFI. WLFI was announced before Trump’s inauguration, but it is still in development. According to a report published by Reuters on Monday, the Trump family further consolidated its control of World Liberty in January by forming WLF Holdco LLC. Of these, DT Marks DeFi LLC holds 60% of the new company and oversees the development of the protocol. Although it’s unclear what the remaining 40% will attribute, this adjustment makes it seem like WLFI co-founders Zak Folkman and Chase Herro are no longer the “controllers” of the platform. To date, WLFI has raised a total of $550 million through the sale of WLFI tokens to accredited investors in the U.S. and non-accredited investors worldwide. According to documents released at the time of the project’s launch, the Trump family is likely to receive 75 percent of the net proceeds from this portion of the sales proceeds.

TRUMP12.35%
DEFI-3.09%
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