The ‘Infinite Money Glitch’ Making the Trump Family Millions

Listen to this episode from WSJ's Take On the Week on Spotify. The Trump family’s latest venture—a so-called “crypto treasury” stock—could generate their biggest payday through the WLFI token from World Liberty Financial, while being a potential minefield for investors. The offering follows the success of Michael Saylor's MicroStrategy, now renamed as Strategy, a “bitcoin treasury company” that accumulates bitcoin by using debt and new stock issues to keep on buying more. Listen in on a conversation between some of The Wall Street Journal's sharpest financial minds in the debut episode of Ticker Shock as our team unpacks the trade. Ticker Shock provides insights to help finance-curious listeners connect the dots between what's happening in policy, markets and the economy to their financial lives and investments. This week, business and finance editor Alex Frangos and markets reporter Chelsey Dulaney are joined by Streetwise columnist James Mackintosh and Markets A.M. newsletter writer and investing columnist Spencer Jakab to discuss the “infinite money glitch.” They also talk about how these sorts of tokens compare to meme stocks such as GameStop and AMC. Further Reading Trump Family Amasses $5 Billion Fortune After Crypto Launch The Trumps’ New Crypto Money Maker: Deals With Themselves Trump Brothers-Backed Bitcoin Mining Company Surges After Nasdaq Listing The Recipe Behind the Trump Family’s Crypto Riches: PancakeSwap The Hottest Business Strategy This Summer Is Buying Crypto The Man Making Billions From the Wildest Bitcoin Bet For more coverage of the markets and your investments, head to WSJ.com, WSJ’s Heard on the Street Column and WSJ’s Live Markets blog. Sign up for the WSJ's free Markets A.M. newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices