World Liberty Financial Expands Horizons Zak Folkman, co-founder of World Liberty Financial, expressed optimism about the partnership, stating, "As our partner, we expect DWF Labs to help accelerate the next-generation infrastructure we’re actively building and deploying at WLFI.” DWF Labs is based in Dubai and led by Andrei Grachev, a former head of Russian operations for the crypto exchange HTX.
Chinese crypto billionaire Justin Sun, who was sued by the US Securities and Exchange Commission (SEC) in 2023, has invested $75 million in WLFI and has taken on an advisory role with the project. World Liberty Financial represents just one facet of Trump’s ventures into the cryptocurrency space.
A report from the Wall Street Journal last May alleged that DWF had proposed using its trading position to artificially inflate cryptocurrency prices and create "deceptive trading volumes” on exchanges, including Binance. This alleged manipulation was said to lure in "unsuspecting traders.” Following the report, DWF publicly denied the allegations, claiming they were unfounded and emphasized their commitment to integrity and transparency.
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