Trump-Linked Crypto Firm Profits From China-AI Amid US-China Tensions
World Liberty Financial, a cryptocurrency firm linked to U.S. President Donald Trump's family, is generating significant profits from its partnership with a Chinese company that distributes AI models built by Chinese firms flagged as security risks by the U.S. administration.
The company, WorldCraw, offers a range of AI models developed by Alibaba, Baidu, and Zhipu AI, among others, to customers in exchange for World Liberty's cryptocurrency tokens. The Trump family holds a 38% stake in World Liberty and collects revenue from the sale of these tokens.
As of June, the Trump family's revenue from selling World Liberty tokens exceeded $1.4 billion, with total crypto earnings reaching $2.3 billion. This collaboration has raised concerns about conflict-of-interest among experts and U.S. politicians, who argue that it contradicts the administration's stance on China.
Sam Bresnick, a researcher at Georgetown University's Center for Security and Emerging Technology, noted that 'it looks hypocritical' for the Trump family to make money using Chinese-made tools while the U.S. government is responding to the rise of Chinese AI.