Trump family’s crypto push lands in Korea

Eric Trump, left, and Donald Trump Jr. pose for pictures outside the Nasdaq building in New York, Aug. 14. Yonhap

A cryptocurrency venture backed by U.S. President Donald Trump’s family is expanding its footprint in Korea, with its tokens now listed on local exchanges and Trump’s sons scheduled to appear at major crypto conferences, industry officials said Tuesday.

Major Korean exchanges — including Upbit, Bithumb and Coinone — have listed WLFI, a governance token launched by World Liberty Financial, a decentralized finance project led by the Trump family. Trading opened at 10 p.m. Monday on Upbit and Bithumb, followed by Coinone at 11 a.m. Tuesday.

The project’s stablecoin, USD1, has also been listed on Upbit and Bithumb, with trading beginning at 4 p.m. Monday.

Donald Trump Jr. and Eric Trump are listed as co-founders and hold key executive roles of the project, while President Donald Trump holds the title of honorary co-founder.

With the latest listings across the world, the Trump family’s cryptocurrency holdings are estimated to be worth around $5 billion. According to the Wall Street Journal, they own approximately 25 percent of the total WLFI token supply. The project may now constitute the family’s single largest financial asset, potentially eclipsing the long-standing value of their real estate empire.

The Trump family is further cementing its presence in the Korean crypto industry, making high-profile virtual appearances during the September crypto conference season.

Eric Trump is set to make his first public appearance in Korea as a speaker at the Upbit D Conference on Sept. 9, where he will discuss the evolving landscape of finance, business and digital assets.

Donald Trump Jr. will follow with a keynote address at Korea Blockchain Week on Sept. 22.

Whether the Trump family’s presence will translate into long-term retail interest in the Korean market remains to be seen. Despite the buzz, the project’s market reception has been volatile.

WLFI plunged about 20 percent from its listing price. According to Bithumb, the token debuted at 418 won ($0.30) on Monday and surged briefly to 510 won, but quickly declined. As of 3:30 p.m. Tuesday, WLFI was trading at around 336 won.

“Given its strong association with the Trump family, the coin has drawn significant attention,” an industry official said. “But the coin’s value seems entirely tied to Trump’s personal brand. Enthusiasm may cool once his presidential term ends — if not sooner.”