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Root dossierDonald J. Trump
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Chase Herro

business
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Relationship to TrumpWLF executive in Trump-branded venturebusiness / 1 source

World Liberty Financial co-founder and executive director whose jointly owned service entity participates in token and protocol-revenue allocations.

WLF co-founder and executive directorrelationship / 2025-11-27

Exact relationships

  1. WLF service-entity owner in Trump-branded venturebusinessdocumented · 1 file · 2 source references
  2. WLF executive linked to measured token-holder outcomesbusinessestimate · 1 file · 1 source reference

Money, power & fallout

  1. Herro-Folkman entity shares a 7.5 billion-token and 25% revenue allocationAMG and WC Digital Fi held the disclosed collective allocationWLF service-entity owner in Trump-branded venture · documented · 2 sources
    1. revenueAMG and WC Digital Fi collective net-revenue share25% net protocol revenue
      Committed revenue source
      World Liberty Financial
      Committed revenue recipient
      AMG Software Solutions LLC and WC Digital Fi LLC
      committed · 2025-11-27 · observedPopulation Collective net-protocol-revenue right assigned to AMG and WC Digital Fi under WLF's Gold PaperPeriod 2025-11-27 to 2025-11-27Basis Collective net-protocol-revenue percentage assigned to AMG and WC Digital Fi in World Liberty Financial's Gold Paper.Limits The two entities share the right; entity-level division, realized receipts, and individual distributions are unquantified.Open cited evidence
    2. asset transfer$WLFI allocated jointly to AMG and WC Digital Fi7.5 billion $WLFI tokens
      Transferred by / from
      World Liberty Financial
      Transferred to
      AMG Software Solutions LLC and WC Digital Fi LLC
      realized · 2025-11-27 · observedPopulation Collective service-entity token allocation to AMG and WC Digital Fi under WLF's Gold PaperPeriod 2025-11-27 to 2025-11-27Basis Collective token quantity assigned to AMG and WC Digital Fi in World Liberty Financial's Gold Paper.Limits The two entities share the allocation; entity-level division, market value, liquidity, and individual distributions are unquantified.Open cited evidence
  2. WLF names Herro as co-founder and executive directorListed as WLF co-founder and executive director on November 27, 2025WLF executive in Trump-branded venture · documented · 1 source
  3. Nansen estimates losses among likely retail $WLFI wallets25,000 likely retail Ethereum DEX wallets estimated underwater as of August 3, 2026WLF executive linked to measured token-holder outcomes · estimate · 1 source
    1. lossGross losses among losing likely retail $WLFI wallets$54 million
      Loss or cost borne by
      25,000 likely retail Ethereum DEX losing wallets
      estimated · 2026-08-03 · observedPopulation The 25,000 likely retail Ethereum DEX wallets Nansen classified as underwater on $WLFI as of August 3, 2026Period 2025-09-01 to 2026-08-03Basis Use Nansen's $54 million gross-loss estimate for the 25,000 losing-wallet subset; the $24 million in gains and $30 million net result cover different totals across all 31,000 likely retail wallets.Limits Mostly mark-to-market and limited to Ethereum DEX activity; the source excludes centralized exchanges and private sales and does not publish the full cost-basis model or transfer allocation.Open cited evidence
    2. lossLikely retail $WLFI wallets underwater25,000 of 31,000 wallets
      Loss or cost borne by
      25,000 likely retail Ethereum DEX wallets
      estimated · 2026-08-03 · observedPopulation Likely retail wallets that bought $WLFI on Ethereum decentralized exchanges in Nansen's Public Citizen analysisPeriod 2025-09-01 to 2026-08-03Basis Use Nansen's reported likely-retail filter: 25,000 underwater wallets among 31,000 that bought $WLFI on Ethereum decentralized exchanges as of August 3, 2026; wallets remain the unit of analysis.Limits Excludes centralized exchanges, other chains, and private-sale investors; Public Citizen did not publish Nansen's complete clustering and cost-basis code, and one owner may control multiple wallets.Open cited evidence
Source: Adam Gray / Bloomberg via Getty Images · Rights/use: Copyright retained by Adam Gray, Bloomberg, and Getty Images; unlicensed low-resolution editorial use · Modified: cropped and resized