WSJ Tech News Briefing TNB Tech Minute: Trump Family Gains $5 Billion After Crypto Launch
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Sep 2, 2025 The podcast dives into the recent surge in the Trump family's wealth due to a lucrative cryptocurrency launch. It also explores Klarna's ambitious plan to raise $1.46 billion through an IPO. Additionally, Amazon's substantial $4.4 billion investment in New Zealand data centers highlights the growing demand for cloud services. These developments illustrate the dynamic intersection of tech and finance.
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Critics Flag Influence Concerns
- Critics say World Liberty could be a vehicle to influence the Trump family because they own a large share of WLFI tokens.
- The White House press secretary responded that neither the president nor his family have engaged or will engage in conflicts of interest.
WLFI Tokens Became Publicly Tradable
- World Liberty Financial's WLFI tokens were previously nontransferable for private buyers but can now be bought and sold like shares.
- The Trump family holds just under a quarter of all tokens, prompting critics to warn of potential influence channels.
Trump Family Saw Massive Paper Gain
- The Trump family's WLFI tokens became tradable and briefly created up to $5 billion in paper wealth for the family.
- Trading surged with about $1 billion changing hands within an hour, raising scrutiny about influence and conflicts of interest.