Nic Carter, a venture capitalist at Castle Island Ventures, reportedly declined an advisor role with World Liberty Financial (WLFI), the Trump family crypto venture, following a 2024 Miami meeting. Carter walked away after cofounder Steve Witkoff mispronounced 'memecoin' as 'me-me' coins and failed to explain the decentralized finance product, according to a New York magazine report. World Liberty Financial disputes Carter's account and states it never offered him the position. The venture launched before the 2024 election while Trump remained a private citizen.
Carter Describes Miami Meeting With WLFI Cofounders
Carter, who voted for Trump in 2024, met with Witkoff in Miami that year after Witkoff sought him as an advisor. Carter told New York magazine that Witkoff could not describe the decentralized finance business. "He didn't know what crypto or DeFi was. He didn't know what the pitch was," the report stated, citing Carter. Witkoff had one clear goal: the launch had to happen before the election so Trump remained a private citizen. Carter turned down the role, warning the project could cost Trump votes. Witkoff's tone hardened after the refusal, according to Carter's account. World Liberty Financial's Gold Paper states the sole utility of WLFI is governance, with holders receiving no right to any return or dividend.
WLFI Token Remains 68.2% Locked Under 2028 Unlock Schedule
WLFI trades near $0.055, against a record of $0.3313 on Sept. 1, 2025, the first day of open trading. The price fell 40% before that day ended. World Liberty released only 20% of each investor's tokens on Sept. 1, 2025. Just 31.8% of the supply trades now. An April plan unlocks the rest from 2028. Holders who vote against the plan stay locked. The company added a contract function letting it freeze any wallet eight days before trading opened.
Justin Sun and World Liberty Financial File Mutual Lawsuits
Justin Sun was the largest early backer of WLFI. He sued World Liberty Financial in California for fraud. The company countersued for defamation in Miami. Both cases remain at an early stage. The venture has been lucrative for the Trump family even as the token price declined. The unlock schedule runs past the end of Trump's term.
FAQ
What did Nic Carter say about his 2024 meeting with World Liberty Financial?
Nic Carter told New York magazine that WLFI cofounder Steve Witkoff could not explain what crypto or DeFi was and did not know the pitch. Carter declined the advisor role after Witkoff mispronounced 'memecoin' as 'me-me' coins and stated the launch had to happen before the election.
How much of the WLFI token supply is currently tradable?
Only 31.8% of the WLFI supply trades now. World Liberty released 20% of each investor's tokens on Sept. 1, 2025. An April plan unlocks the rest from 2028, with holders who vote against it staying locked.
What legal disputes involve World Liberty Financial?
Justin Sun, the largest early backer, sued World Liberty Financial in California for fraud. The company countersued for defamation in Miami. Both cases remain at an early stage.
