U.S. President Donald Trump. Yonhap News. 

President Donald Trump's family has secured assets worth up to $5 billion (approximately 7 trillion won) by launching a new cryptocurrency on the 1st (local time), the Wall Street Journal (WSJ) reported on the 1st (local time).

The WLFI coin, issued by the Trump family's cryptocurrency company World Liberty Financial (WLFI), was listed on global exchanges including the world's largest cryptocurrency exchange Binance, as well as South Korea's Upbit and Bithumb, starting today.

Consequently, WLFI coins can now be bought and sold. Previously, individuals who personally purchased these coins through WLFI were unable to exchange their tokens.

According to Coinbase, at 4:58 PM Eastern Time (1:58 PM Pacific Time) today, the WLFI coin traded at $0.22, a drop of over 15% from its starting price of $0.26.

The price had surged to as high as $0.46, an increase of more than 70%, before falling as a large volume of sell orders flooded the market.

Trading began explosively, with approximately $1 billion in transactions occurring within an hour of the launch, according to data from cryptocurrency analytics firm CoinMarketCap.

The WSJ reported that the value of the Trump family's stake in WLFI coins reaches $5 billion (approximately 7 trillion won) with the launch of the WLFI coin. The stake value had even exceeded $6 billion.

The family, including Trump, holds about a quarter of all WLFI coins. Trump's sons are co-founders of WLFI, and he is listed as an "honorary co-founder."

The price of WLFI coins today is more than 10 times the $0.015 that investors paid to purchase the coins privately last year. However, these investors can only trade one-fifth of their holdings initially.

In January, WLFI also issued a meme coin called "Official Trump." At the same time, this coin was trading at $8.02, down 5% from 24 hours prior.

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