Trump Family Launches DeFi Casino as DOJ Subpoenas the Fed

On the same day the Department of Justice escalated its criminal probe into Fed Chair Jerome Powell, the Trump family's crypto project, World Liberty Financial (WLFI), launched its first major DeFi product.

The new platform, World Liberty Markets, went live on Monday. It is a lending and borrowing protocol powered by Dolomite that allows users to earn yield on the project's stablecoin, USD1.

The "shadow" central bank

The timing is impeccable. As the White House attempts to seize control of monetary policy via "Shadow QE," the Trump family business is building the plumbing to monetize it.

The new WebApp allows users to lend and borrow against USD1, WLFI, Ethereum and Coinbase’s cbBTC. It leverages the infrastructure of Dolomite, a decentralized money market protocol, to offer yield to holders of the $3.5bn stablecoin.

This is not just a tech launch. It is part of a broader push to institutionalize the token. WLFI recently applied for a national trust bank charter with the Office of the Comptroller of the Currency (OCC). If approved, this would grant the President's family business a federal license to issue and custody its own private currency.

The grift economy

While President Trump attacks the integrity of the US Dollar managed by the Federal Reserve, his business interests are promoting a private dollar substitute. The "World Liberty Markets" platform effectively creates a closed-loop economy where the President's supporters can deposit their savings into a system that directly benefits the First Family.

"We set out to build a stablecoin that could compete with the biggest names in crypto," said Zak Folkman, co-founder of World Liberty Financial. With the regulator-in-chief now effectively at war with the central bank, that competition is no longer just commercial. It is political.