World Liberty Financial, the Cryptocurrency company supported by US President Donald Trump and his family, reported that a United Arab Emirates-based company has bought $ 100 million worth of token platform management, WLFI.
In a notice on Thursday, the World Liberty and Aqua1 Foundation-described as a “web3-native fund”- Says The $ 100-million deal is “intended to help accelerate the creation of a financial ecosystem enabling blockchain centered on blockchain development, Real World Asset (RWA) tokenization, and stablecoin integration, aimed at setting new benchmarks for the global capital efficiency.”
The purchase makes Aqua1 a larger WLFI tokenholder than Tron Founder Justin Sun, who Investing $ 30 million in the project in November.
“WLFI and Aqua 1 will jointly identify and protect projects with highly -potential blockchain,” said Aqua1 establishment partner Dave Lee. “The USD1 ecosystem of the WLFI and RWA pipeline covers the trillion-dollar structures of the pivot opportunity that we seek to catalyze-where architects join the traditional capital markets with decentralized primitives to re-define global financial infrastructure.”
https://www.youtube.com/watch?v=vkc5qcrvdc0
World Liberty is under investigation from US lawmakers due to the Trump family’s connection to the firm. Trump’s three children were named as co-founders of the company, and in June the President Announced $ 57.4 million In revenue tied to WLFI, with personal holding 15.75 billion management tokens.
Related: Trump-Back World Liberty to release Stablecoin Audit, make WLFI to be transferred
WLFI under a thorough investigation while the US Congress looked at the Stablecoin Bill
Trump family’s crypto business is already facing criticism after Eric Trump announced in May that an Abu Dhabi -based investment company, MGX, will use USD1 Stablecoin platform in Arrange a $ 2 billion investment In Binance.
The move came as Congress weighs bills to repair payment stables, which motivates concerns from democratic lawmakers whose president supports the law that may benefit from his family’s business relationships.
At a hearing on the Senate Committee on Wednesday, US Attorney General Pam Bondi Sidestepped A question from Oregon Senator Jeff Merkley to the President’s connection to the World Liberty Financial.
“I think it is important for the head of the United States Justice Department to be overly concerned about the influence of foreigners,” Merkley said. “And I encourage you (Bondi) to do the topic and not consider it a guilt that those who are concerned about it, Democrats and Republicans, Americans want to make American decisions. Foreigners are not influenced by crypto coins.”
Many United States lawmakers have proposed various legislative paths for Congress to address potential conflicts of interest in the crypto industry. The proposals include amendments to the guidance and establishment of national change for US Stablecoins, or Genius Act, and separate law in Prevent the President and future leaders from investing in digital assets while in office.
Magazine: The Genius Act reopened the door for a meta stablecoin, but would it work?
