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World Liberty Financial (WLFI), a decentralized finance (DeFi) platform associated with President Donald Trump, has made headlines this week by announcing that it has successfully raised a staggering $550 million through a series of token sales.
World Liberty Financial Token Sales
Zach Witkoff, co-founder of World Liberty Financial, expressed his enthusiasm about this achievement in a statement to Fortune: “This milestone proves that those who truly understand crypto and finance recognize what we’re building—and that WLFI is on track to supercharge DeFi as it transforms global finance in the coming years.”
According to Fortune, the Trump-backed crypto company sold WLFI tokens in two separate sales, amounting to $300 million and $250 million, although the specific dates of these sales remain undisclosed. The WLFI tokens, which were marketed both domestically and internationally, attracted over 85,000 investors.
However, it’s worth noting that approximately 75% of the net revenue generated from these token sales is slated to benefit a different entity affiliated with Trump and his family, as outlined in a 13-page document released by World Liberty Financial.
Initially launched in October, the WLFI token is designed to empower holders to propose and vote on changes to the World Liberty Financial platform. Yet, it is crucial to highlight that the tokens are non transferable and do not generate returns, which raises questions about their value as an investment vehicle.
Millions Invested In Ethereum, Bitcoin, And Tron
In a strategic move to bolster its position in the cryptocurrency market, World Liberty Financial has acquired millions of dollars’ worth of prominent cryptocurrencies, including Ethereum (ETH), Bitcoin (BTC), and Tron.
However, such moves have raised major concerns about potential conflicts of interest between President Trump and investments made by World Liberty Financial, as well as the recently launched TRUMP memecoin.
Per the report, these acquisitions are part of a broader strategy to establish a robust token reserve, aimed at strengthening leading cryptocurrency projects while diversifying the company’s treasury.
Moreover, World Liberty has reportedly formed key partnerships with influential players in the crypto industry, including other DeFi platforms such as ONDO Finance, Sui, and Aave.
Notably, Justin Sun, the founder of the Tron blockchain, has invested $75 million in World Liberty Financial since Trump’s election in November, further solidifying the platform’s connections within the crypto space.
Witkoff emphasized that the recent token sales are merely the beginning for World Liberty Financial. “We’re gearing up to launch a wave of disruptive technology that will redefine the boundaries of what’s possible with digital assets,” he stated.
Featured image from DALL-E, chart from TradingView.com