WLFI token backed by Trump family jumps 23% before crypto forum at Mar-a-Lago
While President Donald Trump won't be attending the event scheduled for today, attendees will include industry executives, CFTC leadership, and two US senators.
A gathering of cryptocurrency executives, Wall Street leaders, and US policymakers is set to take place at US President Donald Trump's exclusive Mar-a-Lago resort for a digital asset "forum" hosted by World Liberty Financial, a venture supported by Trump and his family members.
In anticipation of this gathering, World Liberty's WLFI token experienced a price spike exceeding 23%, climbing to approximately $0.12 from its previous level of $0.10. The token's trading volume over the preceding 24-hour period surpassed $466 million.
The Wednesday event at Trump's Florida estate will bring together Eric Trump and Donald Trump Jr. — the president's sons who also serve as co-founders of World Liberty Financial — alongside notable figures including Coinbase CEO Brian Armstrong, Mike Belshe, the co-founder and CEO of BitGo, CFTC Chair Michael Selig, and additional key participants to address policy matters related to cryptocurrency.
This gathering, characterized by World Liberty as a cryptocurrency-focused "forum," takes place while US legislators deliberate on an all-encompassing digital asset market structure bill amid questions regarding how to handle stablecoin yield regulations. A discussion between Selig and New York Stock Exchange President Lynn Martin on the proposed legislation is scheduled to occur.
Despite the event's alignment with crypto policy matters and participation from legislators including Ohio Senator Bernie Moreno and Florida Senator Ashley Moody, the President himself was not expected to make an appearance as of Wednesday morning.
At the same time, numerous Democratic senators continue advocating for the market structure bill to incorporate provisions that would address conflicts of interest for US elected officials and lawmakers who profit from cryptocurrency ventures while serving in their official capacities.
Reports from various media sources indicate that Trump and his relatives have accumulated over $1 billion from cryptocurrency-related projects since his inauguration in January 2025. This stands in stark contrast to the president's second term, as Trump stated in 2019 that he was "not a fan" of Bitcoin (BTC) and other cryptocurrencies, and later characterized the coin as a "scam" following his departure from office in 2021.
US market structure bill is under scrutiny
Approved in the US House of Representatives in July under the name CLARITY Act, the market structure bill currently being considered in the Senate aims to deliver clarity regarding digital asset oversight responsibilities between the Commodity Futures Trading Commission and Securities and Exchange Commission, the nation's two primary financial markets regulatory bodies based in Washington.
During January, the Senate Agriculture Committee, which maintains CFTC oversight authority, moved forward with its version of the legislation along party lines, with Democratic members unanimously opposing the bill. The Senate Banking Committee delayed its markup of the bill in January following statements from the Coinbase CEO expressing his inability to endorse the legislation in its current form, pointing to apprehensions about tokenized equities and decentralized finance.