President Donald Trump, and other principals of DT Marks DEFI LLC, have already netted roughly $390 million in revenue from their Ethereum-based decentralized finance project—and that’s just for promoting it. 

On Monday, World Liberty Financial announced it had completed its second round of token sales. All in all, the project has brought in $550 million from two rounds of sales of WLFI, its native governance token, according to the company’s own accounting. 

Though Trump himself is technically a promoter of World Liberty, and not an active member of the project, the president is still entitled to the lion’s share of revenues the project reaps. According to World Liberty’s gold paper, Trump and his business partners are set to receive 75% of net revenues earned by the project, including WLFI token sales, after operating costs are taken into consideration.

Of the sum raised from sales of WLFI, $30 million has been earmarked to cover company expenses, indemnities, and obligations. Trump and his partners in DT Marks DEFI LLC then get 75% of the remaining amount—a full $390 million—as payment for Trump promoting the project “from time to time” and allowing it to use his name and likeness, according to the project’s gold paper.

It’s unclear who, besides the president himself, will receive funds from the LLC. According to SEC filings, DT Marks DEFI is based in Jupiter, Florida, at the address of the Trump Organization’s executive offices. 

When World Liberty first launched token sales in October, the project struggled to attract investors. On the eve of the 2024 election, it had sold less than $15 million worth of WLFI tokens, according to Dune—a fraction of the project’s stated goal of $300 million in sales. 

But after Trump recaptured the White House, the project enjoyed a sharp spike in interest. Tron blockchain founder Justin Sun, for instance, said he purchased tens of millions of dollars worth of WLFI, and shortly thereafter joined the project as an advisor. 

In late February, the SEC asked a judge to pause its years-long fraud lawsuit against Sun, in order to explore a “potential resolution.”

Since returning to office, Trump has faced questions about potential conflicts of interest, given his personal investment in various crypto ventures at a crucial juncture when his administration is set to effectively write the book on crypto regulation.

One such project, the TRUMP meme coin that launched on the eve of the president’s inauguration, entitles his companies to eventually hold over $9 billion worth of the token at current prices.

Earlier this month, the president’s AI and crypto czar, David Sacks, dismissed the president’s crypto projects as “irrelevant” to industry regulation.

The launch of the Solana meme coin, JELLYJELLY in January prompted signups for an app to soar and a community to form, even after it fell 98% from its all-time high, Iqram Magdon-Ismail, a Venmo co-founder, told Decrypt.

Now nearly two months after its creation, JellyJelly, which debuted on Pump.fun, is set to be integrated into the app. 

JELLYJELLY climbed to a $250 million market cap, after it was tied to the in-development AI-powered podcasting app of the same name. But, there were no concrete plans on how the token would be used and it has since crashed to just $6 million.

Magdon-Ismail maintains that the JELLYJELLY token will be implemented into the app soon and explains that, above everything, the meme coin launch was an excellent marketing tool to establish an audience.

“We got 10,000 signups in a day,” Magdon-Ismail told Decrypt. “It brought an incredible amount of awareness. I have to be honest, I never thought of using this whole meme coin world as a form of promotion [but] it’s starting to become very clear to me.”

JellyJelly is essentially TikTok but for podcasters, allowing users to record full episodes on the app which are then clipped up and posted using AI. Users are able to sign up and download the app but it is far from the finished article.

Investor in the app Sam Lessin believes meme coins work as a marketing tool because you immediately attract tons of eyes looking to flip a quick buck on the token. In doing this, some of these traders may become genuinely interested in the product behind the speculative trade. At the time of writing, JELLYJELLY has 34,275 holders. This figure was likely much higher back in January.

“Out of all of that, I think there’s a genuine group of like two to three thousand people in our Discord and Telegram communities that genuinely believe in the product,” Magdon-Ismail said. “If you open the Jelly feed today, I would say 50% of our user base are people that hold the coin.”

Other projects like Pythia, a Russian research lab, have also embraced a meme coin as a form of marketing. Equally, AI projects like Truth Terminal have used related meme coins as a way to fund the development of the project, however, Lessin says that he’s unconvinced that’s in the future of JellyJelly.

“My personal take is: eh,” he said, smiling. “That’s coming out of someone’s pocket in a zero sum way—and, I just don’t think that that feels great. Now, again, I am really open to it down the line.”

JELLYJELLY debuted  mostly off vibes and fun, with no solid plans on what to do with it. This lack of clear direction combined with macro downward pressures sent it plunging. But, Magdon-Ismail says the token’s plan has progressed significantly since its spontaneous launch.

“[The plan has] developed very rapidly and swiftly,” he said. “The first thing we’re building into the app is the ability to prove and verify ownership of the coin—how much of the coin you own and how long you’ve held it. Once you do that you get a little Jelly coin badge.”

Alongside this development, a native JellyJelly wallet—akin to the Telegram wallet—is in the works which will allow you to pay and receive tips on the platform. While Magdon-Ismail is optimistic this feature is coming “soon,” he’s apprehensive to put any hard date on it.

Further down the line, the team plans to use data points relating to JELLYJELLY —number of tokens held, tipped, etc.—to determine what content the platform pushes onto users through its algorithm. This is one of many “experiments” that JellyJelly plans to deploy once the token is integrated.

“We don’t have to get it right the first time. We’re going to play with it a little bit,” Magdon-Ismail explained. “We’re going to experiment over the next couple months with ways to utilize the coin to present content in different ways.”

Edited by James Rubin

IATSE Local 728, a 3,000-member chapter of The International Alliance of Theatrical Stage Employees, Moving Picture Technicians, Artists and Allied Crafts of the United States, Its Territories and Canada, has made history by purchasing its first Bitcoin investment, according to a press release sent to Bitcoin Magazine. This initiative, approved by an overwhelming majority of its membership, was executed with the assistance of Proof of Workforce, a nonprofit dedicated to helping unions adopt Bitcoin through education-based initiatives.

IATSE Local 728 said it has long championed service, strength, and solidarity, and its decision to invest in Bitcoin aligns with its mission to fight for financial security for its members. “Today, we make history as the first private-sector labor union in the country to put Bitcoin on our balance sheet and hold it in self-custody,” the union stated. The effort was led by IATSE Local 728 Treasurer Pascal Guillemard, former Executive Board Member Jason Lord, and current Board Member David Graves, in collaboration with Proof of Workforce founder Dom Bei.

“IATSE Local 728 has led the entertainment industry in safety, technology, and training since 1939. Our members have been the proof of work behind the greatest productions in history—now, we’re bringing that same innovation to finance,” stated the IATSE Local 728 Bitcoin Advisory Board. “As the first private-sector labor union in the country to put Bitcoin on its balance sheet and hold it in self-custody, we are taking a stand for financial security and labor empowerment.”

“This is about protecting the value of our members’ labor. Bitcoin isn’t just an asset, it’s the most secure, decentralized financial network in the world, immune to manipulation and inflation. While governments print money and financial institutions strip workers of their wages, we are taking control. This isn’t a gamble. It’s a strategy. We are learning, building, and leading,” the union continued.

Beyond its own membership, IATSE Local 728 sees this move as a catalyst for a broader transformation within the labor movement. “For too long, unions have played defense in a system rigged against workers. That ends now. With Bitcoin, we aren’t just negotiating contracts, we are securing economic freedom. We are setting the standard. We are taking action. We are proving that unions don’t just fight for today, they build for the future.”

In addition to holding bitcoin on the balance sheet, a standing committee will be established to explore ways Bitcoin can provide long-term security for IATSE 728 members and their families. The committee will also help integrate the union’s support into the Bitcoin network.

Proof of Workforce praised IATSE 728’s leadership in adopting Bitcoin as a reserve asset, stating, “At Proof of Workforce, we understand that within every organization, exists someone who has discovered the true potential of Bitcoin. Our mission is to provide that person with the tools to introduce education-based and responsible adoption to their organization. IATSE Local 728 is a representation of the Proof of Work behind some of the best entertainment in the world. Their members work incredibly hard in motion picture and television lighting, ensuring the highest standards in the industry. They now have begun to explore an innovative network, aligned with the values and proof of work exhibited by its members. It’s now Lights, Camera, Bitcoin!”

As the first private-sector union to integrate Bitcoin into its financial strategy, IATSE Local 728 is setting a precedent that could inspire other private-sector unions across the country to follow suit.

Yesterday, Dom Bei announced he’s running for a a seat on the board of the California Public Employees’ Retirement System (CalPERS). Bei launched his campaign with massive endorsements, including California legislators and the city of Vancouver Mayor Ken Sim.