Since September 2024, President Trump’s sons, Donald Jr., Eric, and Barron, have been building their DeFi project, World Liberty Financial, alongside long‑time Trump ally Steve Witkoff’s sons, Zach and Alex Witkoff, and inking deals with top crypto firms such as Kraken, Aster Exchange, and Bithumb.

The market cap of its WLFI token is $3.52 billion, and its stablecoin USD1 was used as the settlement asset for a $2 billion investment by Abu Dhabi’s MGX into Binance, one of the largest stablecoin‑funded crypto deals to date. USD1 has its own market cap of $2.7 billion, which is ranked 6th among stablecoins worldwide by market capitalization.

However, as our reporting shows, the WLFI project is structured in a way that it is highly unlikely to fit the definition of “decentralized” finance in a long‑awaited market‑structure bill, which could create problems between the White House, Congress, and the broader industry.

Read more: USD1 Airdrop Rewards Early Adopters With 8.4 Million Tokens

The legislation is winding its way through Congress, but the two biggest sticking points center on ethics and DeFi. Already, the White House has signaled that the president will not sign legislation that would include constraints on how he, his family, and inner circle operate in the crypto industry.

Will Trump sign into law legislation that could handcuff his signature “DeFi” platform? And given that WLFI is centralized, will he and his family comply with the new law or could he try to argue that his project is different from the likes of Coinbase and Kraken? What would it mean for the new legislation if the president and his family seek a special carve‑out for themselves?

Our research takes time, calls, and credibility.