Trump’s World Liberty Financial Project Raises $250 Million in Latest Token Sale
WLFI Reaches Total of $550 Million as Crypto Ventures Flourish Under the Trump Administration
On Monday, World Liberty Financial Inc. (WLFI), a cryptocurrency venture associated with former President Donald Trump’s family, announced it successfully raised $250 million in its second token sale. This recent fundraising round brings the total amount of WLFI coins sold to an impressive $550 million since its inception.
WLFI aims to create a crypto banking platform and was launched in October 2020, just weeks before Donald Trump’s re-election bid. The project’s original documentation indicated that the Trump family could potentially receive 75% of the net revenue generated by the venture, highlighting the implications of personal investment intertwined with political pursuits.
The recent token sale attracted significant interest, with more than 85,000 participants completing the “know-your-customer” verification process to gain access to the sale. Co-founder Zach Witkoff, the son of billionaire U.S. envoy Steve Witkoff, expressed optimism about the project’s future, stating, "WLFI is on track to supercharge DeFi," referring to decentralized finance.
Prominent figures in the cryptocurrency space are also taking a vested interest in WLFI. Justin Sun, the founder of the Tron blockchain, increased his investment in WLFI tokens to $75 million earlier this year. This development coincided with ongoing discussions between Sun and the U.S. Securities and Exchange Commission (SEC) concerning a resolution to a civil fraud case against him.
As crypto-related initiatives increase under the Trump administration, WLFI is part of a broader strategy to promote a crypto-friendly environment. Earlier this month, President Trump signed an executive order to establish a Strategic Bitcoin Reserve, aiming to position the United States favorably within the burgeoning digital asset landscape.
David Sacks, the appointed AI and crypto czar for the Trump administration, has also been making headlines. A memo released by the White House revealed that Sacks sold over $200 million worth of digital asset-related investments both personally and through his firm, Craft Ventures, before assuming his role. Sacks publicly emphasized his desire to avoid any appearance of conflict of interest.
In a statement from the SEC made at the end of February, a notable legal clarification was provided: meme tokens are not classified as securities. This announcement came shortly after the launch of meme coins by former President Trump and First Lady Melania Trump in the lead-up to the inauguration, further intertwining the world of cryptocurrency with the former administration’s agenda.
As WLFI continues to attract participation and investment, its trajectory remains a focal point of interest within the rapidly evolving cryptocurrency market, especially as regulatory environments adjust and influential figures further engage in its expansion.
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