Individual investors entered the market, while large corporations left.
Written by: Peter Girnus
Compiled and edited by: Sanqing, Foresight News
On April 12th, a long post titled "X," written in the first person, quickly spread throughout the crypto community. The author, Peter Girnus (@gothburz), began by identifying himself as a "Web3 Ambassador for World Liberty Financial," and, in the tone of a professional consultant, listed WLFI's revenue structure, Trump Meme tokens, judicial amnesty, and stablecoin sovereign transactions in the same document, ending each paragraph with "These events are unrelated." About six hours after the post was published, WLFI co-founder Zach Witkoff personally refuted it. The following is a translation of the original post and a summary of subsequent responses.
Note: The original poster, Peter Girnus (@gothburz), is not an actual employee of WLFI. The post is presented in a satirical style. All data and content cited in the text are from public documents and media reports.
Team composition and Meme coin
I am a Web3 Ambassador for World Liberty Financial.
The team page lists 12 members. Four have the last name Trump, and three have the last name Witkoff. The page describes us as "passionate minds shaping the future of finance."
600,000 wallets bought our Meme coin. They lost $3.87 billion. The family pocketed $350 million in transaction fees. Meme coin launched 3 days before the inauguration. 80% of the supply went to CIC Digital LLC and Fight Fight Fight LLC. I didn't name those two things. The allocation method, the lock-up period, the launch timing, and the distance between the product and the president—I designed those.
That distance is my best work. I am the one who keeps these events unrelated.
The team page lists three Witkoffs, all of whom are co-founders. Steven Witkoff was the president's Middle East envoy and testified in his presidential fraud trial, endorsing him. His son, Zach, runs the crypto business, and his son Alex is also a co-founder. I haven't been informed what Alex co-founded.
The father spearheaded diplomacy, the sons managed the platform, and the entire family operated both simultaneously. That's called organizational efficiency.
Barron is 19 years old and holds the title of Web3 Ambassador, just like me. Donald Jr. called the conflict of interest allegations "complete nonsense." Eric founded a Bitcoin mining company called "American Bitcoin." Its mining partner is Hut 8, founded in Canada. "America First" refers to the name.
List of unrelated events
World Liberty Financial transfers 75 cents of every dollar of revenue to DT Marks DEFI LLC. It's a family-owned entity. Zero capital investment. Zero risk. This is what I wrote in the Gold Paper. Page 14. The lawyer bound it in a white leather cover. The binding cost more than due diligence.
Justin Sun: Justin Sun invested $75 million. At the time, he was facing fraud charges from the SEC. The SEC subsequently dropped the case. He is now our advisor. These events are unrelated.
CZ and Binance: CZ pleaded guilty to federal money laundering violations. He received a presidential pardon. The SEC dropped its lawsuit against the exchange in the same week, the same week we launched our stablecoin. Subsequently, the exchange entered into a $2 billion deal with Abu Dhabi, settled entirely in that stablecoin. These events are unrelated.
The BitMEX trio— Arthur Hayes, Benjamin Delo, and Samuel Reed—pleaded guilty to violating the Bank Secrecy Act. All three received presidential pardons. The company itself was subsequently pardoned as well. A $100 million fine was wiped clean—a first in U.S. history. These events are unrelated.
Abu Dhabi's Sheikh Tahnoun: Sheikh Tahnoun acquired a 49% stake for $500 million in a deal that was never publicly disclosed. Subsequently, the government approved the export of semiconductors to its subsidiaries—an application that had previously been opposed due to national security concerns. These events are unrelated.
A $148 Million Dinner: On May 22, 220 people paid a total of $148 million to dine with the "America First President." More than half of them were foreign nationals. Justin Sun purchased the head seat for $18.5 million. He visited the Executive Office Building the day before the dinner. I designed the seating chart. I put it on the investor confidence page. That page performed well.
Strategic Bitcoin Reserve: On March 6, the President signed Executive Order 14233, establishing a strategic Bitcoin reserve and directing the government to hold Bitcoin. The President's family holds billions of dollars worth of Bitcoin. Forbes estimates that their total cryptocurrency assets exceed the combined value of Mar-a-Lago and Trump Tower. Trump Media has added $2 billion worth of Bitcoin to its balance sheet, with the ticker symbol DJT, his initials. The press secretary said that suggesting the President profits from the presidency is "absurd." I find it absurd too. That's my job. These events are unrelated.
All the events are independent of each other. I use a dashboard I built myself to track these unrelated events. The dashboard currently has 7 columns. I'm very proud of this dashboard.
Trump Casino collected $82 million in management fees from the family over 13 years, while investors lost $1.1 billion, with management fees never ceasing during three bankruptcies; WLFI collected $350 million in fees over 15 months, while participants lost $3.87 billion. "The ratio is improving. That's what Gold Paper calls innovation."
In October 2024, the governance token WLFI was launched, raising $550 million; in January 2025, Trump Meme was launched, generating $350 million in transaction fees; and in March 2026, USD1 completed a $2 billion sovereign-level settlement. "A token is the product, a Meme is the stake, and a stablecoin is the currency. From product launch to currency issuance, it took 17 months. Everything that happened during those 17 months was completely unrelated."
Different inside and outside
600,000 wallets bought in. One user asked me why she couldn't withdraw her funds. I told her the protocol was experiencing dynamic market conditions. She asked what that meant. I sent her the Gold Paper. She said she had already read the Gold Paper. I muted her channel.
A congressman called us "the most corrupt crypto startup in the world." We printed that phrase on a mug. Satirical merchandise. $45. Revenue from the mug is split 75/25.
My own tokens are locked up according to a separate timetable. That timetable was written by myself. It's not in the Gold Paper.
Meme coin funds the family, the family funds the platform, the platform funds stablecoins, stablecoins fund transactions, transactions require amnesty, the amnesty releases partners, partners fund the platform, the president signs an executive order, the executive order drives up assets, assets fund the family.
I'm the one who keeps these events unrelated.
Prediction Markets and Insider Trading Mystery
On April 9, 2025, the president posted on Truth Social, "Now is the perfect time to buy!!!" Hours later, a 90-day tariff suspension was announced, and the Nasdaq rose 12% that day. gothburz called it a "proof of concept".
On March 22, 2026, the president posted that he would destroy Iran's power generation facilities, causing oil prices to rise. The following morning at 7:04 AM, he posted again that negotiations were progressing well and military strikes were temporarily suspended—but 15 minutes earlier, at 6:49 AM, someone bought $580 million worth of oil futures, totaling 6,200 contracts. The normal trading volume for that time was approximately 700 contracts, making this nine times the normal level. There were no planned economic reports, Federal Reserve statements, or news events at the time. Oil prices subsequently fell, the Dow Jones Industrial Average rose 1,000 points, and the estimated profit was $40 million to $50 million.
On Polymarket, one trader made $967,000 with a 93% success rate, betting on unannounced military operations; another trader accurately predicted the precise time of Maduro's arrest, earning $436,000; and eight accounts that collectively bet $70,000 before the Iranian ceasefire were reported by The Guardian as having "inside information."
Donald Trump Jr. serves on the advisory board of Polymarket and is a paid strategy consultant for Kalshi. His father's undisclosed military activities are among the most profitable event-driven contracts on both platforms. On April 10, the White House sent an internal email to all employees reminding them against using confidential information for trading. The SEC's chief enforcement official resigned in March, and the CFTC has neither confirmed nor denied the related investigation. "The above events are unrelated."
The largest investors are citizens of St. Kitts and Nevis; the exchange is registered in the Cayman Islands; $2 billion in stablecoin trading was completed in Abu Dhabi; the amnesty trading platform is registered in Seychelles; the mining partners were founded in Toronto; more than half of the dinner guests were foreign nationals; transaction fees were collected through a Delaware LLC; and the executive order was signed in Washington.
"That's the American part. That's the part at the very beginning."
Zach Witkoff countered, and gothburz refuted each point.
About six hours after the post was published, WLFI co-founder Zach Witkoff appeared in the comments section, stating that gothburz "lacked an understanding of basic facts," and listed four points to refute it:
- WLFI has absolutely nothing to do with Trump Meme.
- WLFI has no affiliation with CIC Digital or Fight Fight Fight LLC.
- Early holders purchased the shares for only $0.015 to $0.05, and the current price is $0.08.
- The company's main business is stablecoin government bond yields rather than "transaction fees". USD1 is currently the second largest stablecoin in terms of issuance size and trading volume among GENIUS-compliant stablecoins.
He advised gothburz to "do some more research before writing 25 tweets."
gothburz then responded to each of the following points:
Regarding points 1 and 2 (brand separation): Meme Coin and WLFI do indeed use different LLC entities, "which is correct on paper. The key point is that they are related to a family that owns both."
Regarding point 3 (token price): According to Fortune, $0.08 is WLFI's all-time low, down 82% from its peak of $0.46. "This is good news he brought."
Regarding point 4 (nature of income): Gold Paper's 75% clause itself does not distinguish between income sources; whether it is called "transaction fees" or "government bond yields," the allocation ratio remains unchanged. The GENIUS bill, which promotes USD1 compliance, is being spearheaded by the political party to which this family belongs.
gothburz added that Senator Blumenthal had requested the SEC to submit records related to the Justin Sun case by the end of the day; Fortune disclosed on the same day that WLFI's CTO was staking and borrowing WLFI tokens on a platform he co-founded; and Binance's $2 billion transaction with MGX was settled entirely through WLFI's own stablecoin.
The response concluded with a single sentence: "They told 600,000 Americans to buy, and then took $890 million. That's America First—you're America, they're First. MAGA was supposed to represent you, but it represented them. But none of these events are related."
Commenter @bellweirboy shared a screenshot showing that WLFI's official team page was quietly taken offline during the public outcry, with photos and titles of Trump and Witkoff family members disappearing from the homepage, leaving only a small amount of text information on a hidden subpage.
