While Donald Trump makes the titles by threatening to send more legal legal residents (and even citizens) to a gulag in Salvador, his crypto fortune continues to grow. And his family does business with resolutely suspicious investors who can see an unlimited advantage by updating the man who makes the rules of the industry back down.
In addition to Trump and First Lady Melania launching her parts of meme and meters, the Trump family runs the World Financial of Decentralized Finance, which sold at least $ 550 million in its first digital token, $ WLFI. The company, in which the sons of President Barron, Eric and Donald Trump Jr. all have wave official titles, has raised corruption problems because it offers an easy way to complete money to the Trumps: DT Marks Defi LLC, a family related to the family, has the right to 75% of income From the token sales. This means that bad actors in the crypto space can essentially pay them with the expectation of favors in return – just like the Trump administration continues to deregulate the cryptography sector.
An eminent crypto investor, the entrepreneur and billionaire of Chinese origin, Justin Sun, spent at least $ 75 million for WLFI $ and is a adviser to World Liberty Financial. Following this generous investment, a month in Trump’s second term, the Securities and Exchange Commission Ferte his civil fraud case against Sun and its companies. Market observers were left if he had bought an asset functionally worthless to obtain a stay of his legal problems.
More recently, April 4, according to an exclusive analysis of the corporate guard dog Managerwhich was shared with RollerWorld Liberty Financial Sold Another $ 25 million in tokens to DWF laboratories based in Dubai. Their membership of $ 250 million WLFI dollars for $ 25 million in USD parts, a digital currency fixed to the US dollar, came three days before the Trump Ministry of Justice announced that it was dissolving a team that had already investigated the cases of cryptographic fraud, abandoning any “dispute or applicable stocks which had the effect of superimposing regulatory frameworks on digital shares”.
It turns out that the DWF has been withdrawn from Binance, the greatest global crypto exchange by daily negotiation volume, when a team of company investigators concluded that it was engaged in fraud known as “washing trading” or to self-screen to create the false impression of market activity in order to attract investment. But Binance canceled this conclusion, and the company denied fraud. He did not immediately send back a comment request.
The DWF agreement with World Liberty Financial could theoretically help protect it from the regulatory examination under the Trump regime. The investment came with the announcement That the company would soon establish a New York office, a decision which, according to it, in an article on X “reflects our deep confidence in the United States as an engine of the adoption of institutional cryptography”. The strategic purchase has instantly made the DWF the 23rd largest holder of WLFI $ token, who according to Terms and Conditionsare “not transferable and locked indefinitely in a portfolio or a smart contract”. World Liberty also advises investors “to accept the risk that once you have paid the purchase price, your interest in the token can decrease and you do not expect the resale of the token”. In other words, those who buy $ WLFI cannot sell it currently on the free market, and it is not clear if they will never have the chance, and they do not know if the tokens will one day have a monetary value.
The general partner of DWF is Andrei Gratchev, original in Uzbekistan, who, the day before the transaction, poster At X, “we are doing the story now”, adding “Stay listening”. The day after the Doj closed his crypto investigation unit, he poster“I appreciate the market these days, it’s a volatile and a real Wild West Wild West” and said A follower “It is a Szn Bro crime”. Grachev previously directed the Russian branch based in Moscow of the Huobi Crypto Exchange, now HTX, an office which opened its doors in partnership with the Digital Center of the Russian State Bank VEB for the promotion of Crypto and Blockchain Tech. He resigned as Huobi CEO under a cloud of suspicion around his presumed link to one Crypto pyramid diagram of $ 4 billion and accusations not to reimburse Debts totaling more than $ 150,000. Before that, he was vice-president of the Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain (RACIB), a non-profit organization closely linked to VEB.
As indicated in the search for manager. In 2024, The Wall Street Journal reported This binance had responded to a trial in 2023 by the SEC on an alleged abusive use of customer funds and illegal operations in the United States by strengthening its market surveillance team and hiring external financial investigators to eliminate fraud. These investigators noted that DWF, a “VIP” customer from Binance, had “manipulated the Ygg Prix and at least six other tokens, and made more than $ 300 million in washing exchanges in 2023”, violating Binance’s terms and conditions. After the team recommended to withdraw the DWF from the platform, Binance rather investigated the team itself and concluded that there was “insufficient evidence” from the alleged market manipulation, then pulled the principal researcher, with other licensees in the coming months.
“Something feels rotten about the Trump administration, which crushes his workers’ unit of crypto crime after a foreign investor linked to Russia suspected of illegal market manipulation paid millions of people in one of the Ophs of the Trump family,” said US Tony Carrk Executive Director Roller. “President Trump deliberately left the door of the barn open to potential corruption and self-enrichment by maintaining links with his largely unregulated crypto interests, and even jumping more since taking office. If the president’s affairs will continue to openly take foreign money in this way, including probable criminal elements, it must be transparent on what these foreign investors in this way, including probable criminal elements, it must be transparent on what these foreign investors ask. ”
Grachev did not immediately return a request for comments on what caused the investment of $ 25 million from DWF, nor the type of partnership it envisages between DWF and the Crypto exchange of the Trump family.
While DWF has denied Any washing trading activity, it promises to be a “market manufacturer”, a term also used by four cryptocurrency financial service companies trapped in a bite Last October, after the FBI created its own token, “Nexfundai”, and hired these companies to promote the assets. Some of these companies were particularly cheeky about the advertising of illegal methods to stimulate the volume of exchanges thanks to washing transactions – and market manufacturers responsible for “allegedly wash exchanges and / or conspire to wash the trade in the name of Nexfundai”, one of them, CLS Global FZC LLC, was sentenced With a fine of $ 428,059 and three years of probation just before the DOJ dissonant its investigation team on cryptography fraud.
As for Binance, which was prohibited in the United States in 2019 for regulatory reasons but which maintains a limited American branch (unavailable in 16 states and territories), a model of American prosecution and application measures can end. In February, the dry took a break in 2023 This had triggered internal probes on potentially fraudulent self-attraition by DWF and other Binance customers.
Representatives of the Trump family had talks on World Liberty Financial Acquiring a participation in the American arm of Binance while the founder and former CEO of the company, Changpeng Zhao, pressed the administration for forgiveness on his conviction in 2023 for having violated the American anti-Marie money laundering requirements. His advocacy agreement on this accusation saw him withdraw from his post and serve a sentence of four months in prison, while Binance, who also pleaded guilty, was struck by a 4.3 billion dollars fine. Binance leaders continued to argue to reduce surveillance of the United States over the crypto while it is trying to rebuild its presence in the country and to conclude an agreement with world freedom. A possibility under discussion, The Wall Street Journal According to indicated that the exchange lists a so-called “stablecoin” token from the family business Trump, a decision that could add billions to their wealth. (Weeks ago, World Liberty revealed USD1A stablecoin set to the US dollar.)
Donors and Crypto-Méga-Riches companies, criticizing the approach of the law and the order of the dry to the crypto under President Joe Biden, paid hundreds of millions of dollars in the trunks of Trump’s campaign last year. He rewarded their support by releasing the rules, by appointing friendly financial officials of crypto and by putting pressure for initiatives, including a strategic government reserve to contain Bitcoin and other blockchain assets. Such tokens were higher in value after Trump’s re -election in November, but these gains were largely deleted, partly due to the economic shocks of the president’s priced threats.
Nevertheless, Trump and his pro-Crypto allies have maintained a close partnership with industry, and the dry and the Doj have proven to change politics considerably as doubtful entrepreneurs, including Sun, Zhao and Grachev, who once flocked his wealth with a photo of A DWF brand Lamborghini On X. Unsurprisingly, DWF’s Stablecoin project, Falcon Finance, has established links with Trump’s cryptography game separately. On April 11, a week after DWF locked $ 25 million in $, Grachev wrote On X: “Happy to announce that @Falconstable has just listed $ USD1 by @Worldlibertyfi as acceptable guarantee.” On Wednesday, he deceived the news of DWF New York expansion, Shout Eric Trump.
It seems that, in the middle of all chaos and the constitutional crises which he caused in Washington, the president can always make friends with people who seek his results.
