Trump Family Just Made a Killing on Crypto

It looks like the biggest asset in the Trump family fortune is no longer real estate: It's cryptocurrency. The family made an estimated $5 billion on paper Monday as the digital token behind its World Liberty Financial crypto venture began trading publicly for the first time, reports the Wall Street Journal. President Trump, who holds an honorary "co-founder emeritus" title, and his three sons, who are co-founders, collectively control nearly a quarter of all WLFI tokens, per the New York Times.

One caveat: These tokens are currently "locked," meaning the Trumps can't cash out yet, but the debut on major crypto exchanges such as Binance puts an actual dollar amount on their stake. Early private buyers of WLFI paid just 1.5 cents per token, while Monday's opening price was around 30 cents before slipping to 20 cents. At one point, the Trump family holdings peaked at more than $6 billion. Another familiar name is involved: The family of Trump's Mideast envoy, Steve Witkoff, holds 3.75 billion tokens, though that is dwarfed by the Trumps' 22.5 billion. Steve Witkoff's son, Zach, is one of the company's partners.