WLFI Enters US Stock Market: Can Trump's $10 Billion Boost the Bull Run?

林晚晚

2025-08-20 13:24

Read this article in 13 Minutes

Trump: Pump the Coin, Dump the Stock

In August, buried in the Nasdaq announcement pile, was a seemingly ordinary financing deal that exploded like a hidden bombshell: ALT5 Sigma issued up to 2 billion common shares at $7.50 per share (approximately RMB 10 billion), using the WLFI token for equity conversion and appointing Eric Trump, the son of Donald Trump, to the board of directors.

Overnight, this fintech company ALT5, with annual revenue of only $20 million, transformed into the "Trump Family's Publicly Listed Treasury." ALT5 not only raised funds but also openly introduced the Trump family's token WLFI and the USD1 stablecoin, which carries a strong political imprint, into the U.S. securities system.

WLFI (World Liberty Financial) is not just a typical startup but a "political mint" handcrafted by the Trump family.

This company was founded in the two months preceding the U.S. election, and in just a few months, WLFI has generated hundreds of millions of dollars in revenue for the family business through the USD1 stablecoin. In other words, ALT5 has not just integrated a stablecoin but an entire set of political financial weapons.

The question is, is ALT5 really fundraising or selling a ticket labeled with "political dividends"?

I. The Secret Lineage of ALT5: Collaboration of Three Forces

The shareholder list of a company often reveals more than its financial reports.

ALT5's shareholder structure is almost like a power puzzle: offshore capital, Wall Street funds, and the political token faction are intertwined, making this company appear to be both a fintech enterprise and a political financial experiment.

What truly gives ALT5 its explosive nature are shareholders of this kind: the political token faction. The key figures are two individuals: Zach Witkoff and Eric Trump.

Eric Trump needs no introduction as the son of the U.S. President Trump, overseeing the family's crypto industry, and directly joining the ALT5 board of directors.

It is worth mentioning Zach Witkoff—the co-founder of the WLFI stablecoin and currently serving as the Chairman of ALT5.

Just looking at his background, Zach Witkoff's lineage alone ensures he is not an ordinary entrepreneur. He is the son of the renowned New York real estate developer Steven Witkoff, who is currently the U.S. special envoy for Middle East affairs. The Witkoff family has accumulated decades in the Manhattan real estate scene, holding many iconic buildings, and the father, Steven, has been involved in the New York financial and political circles for many years.

The Trump family's background is in real estate, and Steven Witkoff has long been deeply connected with the Trump father-son duo in the New York real estate scene.

The relationship between Zach and the Trump family can be summarized in one sentence: an intergenerational real estate connection with a political twist. Therefore, Zach and Eric's relationship is not just about "collaboration," but more of a familial political-financial alliance.

If Eric Trump puts the family's political resources on the table, then Zach Witkoff is the one who executes the financial aspects for the Trump family. He is a key figure in this political-financial interweaving.

Therefore, the presence of these two individuals signifies that ALT5's development path will become increasingly politicized. It is not just about pursuing business expansion but rather reserving financial tools for the U.S. political cycle of 2025–2028. To some extent, it is part of the Trump family's "financial arsenal."

Now, let's dive into one of ALT5's major shareholders, an offshore company registered in the Bahamas—Clover Crest Bahamas Ltd., holding approximately 11% of the shares. The Bahamas is well known as a tax haven, where many wealthy individuals and businesses choose to register their companies. The reason is simple: they can enjoy lenient tax policies while avoiding excessive regulatory scrutiny.

In simple terms, Clover Crest is like a clandestine channel for the Trump family, capable of quietly channeling money to ALT5 and isolating risks when needed.

Another shareholder force comes from Wall Street's fund companies, such as the well-known Vanguard Group. These types of funds may indirectly be held by retail investors worldwide as they operate large-scale index funds.

Vanguard's ownership stake in ALT5 is not particularly high, and it appears to be a passive allocation. However, the issue is this: when the public sees a name like "Vanguard Group" in the shareholder list, their instinctual reaction is to perceive this company as "legitimate" and "reputable." This is known as legitimacy endorsement.

These three forces each have their own logic: offshore benefactors provide a covert fund channel to ensure money flows in; Wall Street funds provide a facade and legitimacy to make the company appear "compliant and reputable"; political token advocates offer narrative and strategic direction, propelling ALT5 onto the global stablecoin stage.

When combined, these three elements make ALT5 both clean and risky.

On the surface, it is a well-behaved fintech company; in reality, it is being treated as a stablecoin version of a "Trojan Horse," quietly carrying the ambitions of politics and capital under a compliant facade.

II. The Disguise of FinTech — What Lies Behind Compliance?

On the books, ALT5 is as normal a fintech company as can be. Holding a full set of licenses, it offers services such as a payment gateway, OTC trading, custody, and white-label exchange. With an annual revenue of around $20 million and a gross margin close to 50%, it is considered a top student in the cryptocurrency payment industry. Compliant, transparent, with clean data, it even appears "cleaner" than many traditional payment companies.

But what truly propelled ALT5 from a niche tool-based FinTech to a global focus was the $1.5 billion financing in August 2025. Overnight, it went from being just an API company to being thrust into a new position — becoming the "Nasdaq Treasury" of the Trump stablecoin, WLFI.

This means ALT5 is no longer just a technology vendor but has become a key node in the globalization of stablecoins.

Why call it a "backdoor"? The reason is actually quite simple.

First is the protection of surface-level identity. If the WLFI stablecoin wanted to directly enter various countries' payment networks, it would almost certainly hit the high walls of central banks and regulators. But ALT5 holds a ready-made fintech license and can take the lead as a "payment API service provider." What regulators see is a compliant FinTech company, not a politically charged stablecoin.

Second is the covert channel for cross-border settlement. ALT5 Pay's API allows merchants to receive cryptocurrencies such as BTC, USDT, which are then automatically converted into dollars or euros in the background. If WLFI/USD1 is included, merchants and users may not even realize they are using a stablecoin endorsed by the Trump family. On the surface, it's "payment technology," but in reality, it is facilitating the penetration of stablecoins.

Lastly, there is the natural grafting of a global network. ALT5 has interconnected the Lightning Network and stablecoin payment systems, far more efficient than traditional cross-border payments relying on SWIFT. For many emerging markets with a strong demand for the dollar but lacking a direct channel to Wall Street, ALT5 offers an invisible fast lane. Through it, WLFI can quickly "descend" and enter the global trading scene with minimal resistance.

As a result, the significance of that $1.5 billion financing becomes clear: it is not just about expanding funds, but more like a strategic deployment to pave the way for WLFI's global payment pipeline.

ALT5 can naturally continue to assure regulators, "We are just a compliant API payment company." But in the shadows, its interface may be becoming a track for stablecoins to bypass the traditional financial system.

This dual narrative makes ALT5 a typical "FinTech Front." Outwardly, it is clean, transparent, and professional, a textbook FinTech; inwardly, however, it is being elevated to a strategic height, becoming an indispensable piece of the stablecoin globalization puzzle.

Perhaps this is precisely why WLFI was able to quickly transition from a political concept to a real financial tool: it found "legitimate backdoors" like ALT5.

When the cloak of compliance is thick enough, stablecoins can quietly flow into merchants' and users' daily transactions, and by the time regulators truly react, that door may already have been completely opened.