Trump’s New Crypto Allies Left Old Investors Behind — Now MAGA Millions Are Flowing In

Entrepreneurs Chase Herro and Zak Folkman, previously associated with the collapse of the controversial platform Dough Finance, have reemerged at the heart of a brand-new crypto empire — World Liberty Financial, launched alongside Donald Trump and his sons. While former Dough investors wait for restitution, the new venture is already generating hundreds of millions of dollars in revenue.

A Lost Million, Disappearing Founders, and a MAGA Reboot In May 2024, Jonathan Lopez, a 31-year-old crypto trader from Miami, invested $1 million into Dough Finance. Attracted by high-risk, high-reward strategies like “looping”, which allows users to continually borrow against their crypto assets, Lopez received personal guidance from Herro himself, who told him: “We get rewarded for the risks we take. LFG!” But by July, everything was gone. Dough had been hacked, losing over $2.5 million due to vulnerabilities in its code. Herro and Folkman promised to fix things, but by mid-August, they vanished from public view, and Dough’s accounts on Telegram and X were deleted.

While Victims Wait, Trump’s Crypto Venture Takes Off Behind the scenes, Herro and Folkman were already working on something new. Introduced to Donald Trump, Donald Jr., and Eric Trump through presidential advisor Steve Witkoff, they launched World Liberty Financial, promoted as a patriotic Web3 project. 🔹 Trump dubbed himself “chief crypto advocate”

🔹 His sons were named “Web3 ambassadors”

🔹 The project sold over $550 million in tokens

🔹 Herro and Folkman allegedly pocketed $65 million, while the Trump family reportedly earned over $400 million As Dough investors struggled to recover their losses, Herro and Folkman were celebrating in Washington, D.C., at Trump’s inauguration gala.

Lawsuits, Promises, and No Accountability In January 2025, Lopez filed a federal lawsuit in Miami accusing Herro of fraud, misrepresentation, breach of fiduciary duty, and violations of securities laws. Herro’s legal team countered that Lopez was a “sophisticated” investor who understood the risks and claimed the hack was beyond their control. The trial is scheduled for April 2026. Before Dough’s collapse, Herro was seen in a video calling himself an “internet dirtbag”, boasting: “I do what’s legal… and I don’t care about the rest.” Folkman’s prior project was a dating advice site called “Date Hotter Girls.”

Investors in the Dark, Funds Unreturned Dough’s website is now locked and nearly empty. The company claimed to have recovered $281,000 with help from SEAL 911, but only $180,000 had been redistributed to wallets, according to CertiK — and just to a small fraction of users. Legal experts note that most victims sue for negligence, as proving fraud is more difficult. Promises like “everyone will be made whole” are not legally binding without formal agreements. Disclaimers calling Dough’s tech “new, experimental, and speculative” also do not automatically protect them from liability.

Summary: Old Debts, New Millions, Zero Responsibility While victims remain in limbo, Herro, Folkman, and the Trump family are cashing in on a booming new crypto empire. For many, it’s a symbol of the times: those who promise the future don’t always have to pay for the past.

#TRUMP , #WLFI , #MAGA , #CryptoNewss , #memecoin

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