Company related to the Trump family crypto project, AI Financial, in talks to sell core payment business.

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According to The Wall Street Journal, the Trump family's crypto project World Liberty Financial once used WLFI tokens to gain control of AI Financial (formerly Alt5 Sigma). AI Financial subsequently raised $750 million to purchase more WLFI. AI Financial is currently in talks with Tokyo-based blockchain company Perpetuals.com to sell its core payment business, with a potential deal of up to $15 million. The relevant terms have not been finalized, and the transaction may change or fail to materialize. The payment business generated $25 million in revenue last year and is AI Financial's only revenue-generating operation. WLFI has since fallen 70%, and AI Financial's stock has dropped over 90% since the related transactions, with a market cap of approximately $80 million. However, under World Liberty's token sale arrangement, the Trump family is entitled to 75% of WLFI sales revenue. AI Financial's purchase of WLFI brought in approximately $540 million in cash income for the project. Perpetuals.com has also agreed to explore offering World Liberty's USD1 stablecoin to European investors and to license its trading engine to AI Financial.
WLFI0.01%
USD10.01%
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LanternSlippage
· 7h ago
WLFI and AI prices both took a hit; the market clearly does not buy this related-party transaction. Information transparency is too poor.
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ForkliftFaye
· 7h ago
USD1 stablecoin enters Europe; Perpetuals wants to leverage Trump's aura to open the market, but compliance risks are significant.
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