The Trump family’s crypto venture, World Liberty Financial, recently announced a plan to raise $1.5 billion through a partnership with ALT5 Sigma Corporation, a publicly listed company in the US.
This initiative is part of a broader strategy by the Trump family to leverage the growing trend of utilizing publicly traded or blank-check companies to provide investors with greater access to cryptocurrencies.
As part of this expansion, Zach Witkoff, the CEO of World Liberty and son of prominent businessman Steve Witkoff, will take on the role of chairman at ALT5 Sigma.
Eric Trump, another son of President Donald Trump and co-founder of World Liberty, will join the board, alongside Zak Folkman, the company’s chief operating officer (COO), who will serve as a board observer.
This move marks the latest chapter in the Trump family’s growing involvement in cryptocurrency. In addition to World Liberty’s initiatives, Donald and Melania Trump launched their own memecoins, TRUMP and MELANIA, earlier this year.
Meanwhile, Eric Trump and Donald Trump Jr. have backed World Liberty Financial and established a Bitcoin mining operation under American Bitcoin in partnership with Hut 8.
Featured image from DALL-E, chart from TradingView.com
