A forum organised by the Trump family-backed crypto business, World Liberty Financial, is set to take place in Palm Beach, Florida, sparking ethical concerns. The World Liberty Forum, scheduled for Wednesday, will bring together Wall Street executives, investors, federal officials, and U.S. lawmakers at President Donald Trump’s Mar-a-Lago club, to discuss the ‘future of finance and technology’.
Confirmed attendees include David Solomon, CEO of Goldman Sachs; Jenny Johnson, CEO of Franklin Templeton; Lynn Martin, president of the New York Stock Exchange; and Adena Friedman, CEO of the Nasdaq. High-profile government figures such as Michael Selig, chairman of the Commodity Futures Trading Commission, Kelly Loeffler, administrator of the U.S. Small Business Administration, and Jacob Helberg, Under Secretary of State for Economic Affairs, are also slated to appear. World Liberty Financial has become central to the Trump family’s wealth. The company’s main product, the USD1 stablecoin, which is backed by the U.S. dollar, has surpassed $5 billion in circulation to become the fifth-largest stablecoin globally.
Critics argue the event presents a conflict of interest due to the overlap of regulators and financial firms alongside a Trump family business, suggesting their appearance could be seen as currying favour. Conversely, others dismiss constitutional legal issues, highlighting that all presidents face inherent conflicts. A World Liberty spokesman stated the forum aims to deepen relationships and extend U.S. dollar dominance in the digital economy, likening it to other industry events.
Ethics experts remain divided, with some expressing concern over the Trump family potentially leveraging the president’s public office for their private crypto businesses. World Liberty was launched by President Trump and his sons just before the 2024 U.S. presidential election. According to a Reuters analysis, the Trump family has made over $1 billion from crypto projects during his first year in office, primarily through World Liberty.
