The Genesis: Eric Trump, Zak Folkman, Chase Herro, the Witkoffs, and the Birth of World Liberty Financial
World Liberty Financial (WLF) burst onto the scene in late 2024 as a DeFi platform promising to “bridge legacy finance and the open economy.” Co‑founded by crypto entrepreneurs Zak Folkman, Chase Herro, and Zachary Witkoff—alongside Steve Witkoff, Donald Trump's Middle East envoy and a key advisor—the project quickly pivoted under Trump family influence. By March 2025, a Trump‑linked entity had seized 60% ownership, entitling the family to a staggering 75% of all revenue from coin sales—a structure that has fueled both acclaim and ethics debates. Eric Trump, alongside Donald Trump Jr. and Barron Trump, stepped in as co‑founders, with Folkman and Herro retaining key operational roles despite an internal reshuffle. Folkman, a serial entrepreneur with prior ventures in blockchain payments, and Herro, known for his NFT marketplace innovations, have been instrumental in product rollouts, including a recent announcement at Korea Blockchain Week 2025 for debit cards and retail apps tied to WLF's ecosystem.
Financially, this power shift was a masterstroke. Reuters reported that as WLF raised hundreds of millions in early 2025, Folkman, Herro, and Witkoff were sidelined as controlling parties, replaced by a Trump‑controlled LLC. The family's crypto wealth ballooned by $1.2 billion in mere weeks, per Financial Advisor Magazine, with $500 million alone from $WLFI token proceeds. Eric Trump's board appointment at Nasdaq‑listed partner ALT5 Sigma in August 2025 sealed a $1.5 billion partnership, where ALT5 committed to holding 7.5% of $WLFI supply in a dedicated treasury—locking up billions in value and signaling institutional buy‑in. This move not only diversified WLF's treasury but also positioned it as a compliant gateway for traditional finance into crypto, with Eric Trump quoted as emphasizing “patriotism and long‑term success.”
Critics, including securities law experts consulted by Forbes, flagged potential conflicts, especially after Eric Trump's brief removal from a board role in September 2025 following Nasdaq scrutiny—only for Folkman to step in as his replacement. Yet, the project's momentum is undeniable: Partnerships with Bithumb in Korea and MGX in Abu Dhabi—backed by UAE's Sheikh Tahnoun bin Zayed Al Nahyan—have funneled $2 billion into Binance via $USD1, underscoring WLF's global reach.
From Hype to Holdings: The $TRUMP Meme Coin Explosion
No Trump crypto tale begins without $TRUMP, the meme coin that turned political satire into a financial juggernaut. Launched in early 2025 on the Ethereum blockchain as OFFICIAL TRUMP, $TRUMP rode the wave of Donald Trump's re‑election buzz, achieving a market cap exceeding $27 billion within days—valuing Trump family holdings at over $20 billion at peak. As of September 29, 2025, the token trades at $7.61 USD, with a circulating supply of 200 million tokens out of a max supply of 1 billion, yielding a live market cap of $1.52 billion and ranking it #64 on major aggregators. Its 24‑hour trading volume hovers at $155‑160 million, reflecting sustained retail frenzy despite an all‑time high of $74.27—a 90% drawdown that meme coin veterans will recognize as par for the course.