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2h ago

Warren Calls Trump Family's WLFI Windfall 'Corruption' After Volatile Token Debut

The Wall Street Journal reported the token’s listing produced roughly $5 billion in paper gains for family-linked entities.

U.S. President Donald Trump departs the White House to attend his meme coin gala at the Trump National Golf Club, in Washington, D.C., U.S., May 22, 2025. REUTERS/Evelyn Hockstein/File Photo
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Elizabeth Warren

Overview

  • WLFI began trading around $0.228, spiked to approximately $0.46 within about 30 minutes, then fell sharply, ending roughly 50% below its peak and 26% under its opening price in the cited window.
  • Sen. Elizabeth Warren criticized the episode on X, calling the reported paper gains “corruption, plain and simple,” as the White House and World Liberty Financial did not immediately respond to comment requests.
  • President Donald Trump is listed as Co‑Founder Emeritus of World Liberty Financial, with Eric Trump and Donald Trump Jr. as co‑founders, and entities linked to the family holding nearly a quarter of WLFI tokens.
  • Commentators on Pod Save America labeled the launch a crypto grift, with one host describing it as a “straight‑up scam.”
  • Reports say some early investors bought WLFI last year for as little as $0.015 per coin, and the company was founded by Zach Witkoff, son of real‑estate executive Steve Witkoff.