Trump-Backed World Liberty Financial Raises $550 Million in Token Sale
The Trump family received 75% of the total proceeds from the WLFI token, which brought in about $413 million from the token sale.
World Liberty Financial Raises $550 Million Through Token Sale
World Liberty Financial (WLFI) announced on Monday that it has completed the sale of its $550 million token, which was attended by more than 85,000 registered users. The token sale took place over two rounds, with the first round raising $300 million and the second round raising $250 million.
The relationship between the Trump family and World Liberty Financial is an interesting factor in the project’s success. According to information from the official website of WLFI, a Trump-owned company called DT Marks DEFI LLC holds approximately 60% of the shares of WLF Holdco LLC, the sole owner of World Liberty Financial. As a result, DT Marks receives 75% of the total proceeds from the sale of WLFI tokens and owns 22.5 billion WLFI tokens, which are divided among various members of the Trump family.
The public relationship between the Trump family and WLFI
The Trump family has been completely transparent about their involvement in the project. Eric Trump, the third son of President Donald Trump, currently serves on the board of directors of WLF Holdco LLC and regularly promotes WLFI through social media channels. Barron Trump, the president's youngest son, is also listed as one of the company's "web3 ambassadors," while Donald Trump himself is considered the project's "main crypto supporter."
While it is unclear what the specific goals of the DeFi protocol WLFI is developing are, what is clear is that with the $550 million token sale, the Trump family pocketed a whopping $413 million in profits from the offering.
Company Speaks on Token Sale Success
"With a total token sale of $550 million and over 85,000 KYC-verified participants, $WLFI has made history," the company announced via its social media accounts. "This is just the beginning."
World Liberty Financial expects to continue to attract attention and grow strongly in the future, based on its relationship with the Trump family and its development strategies.