Trump’s World Liberty Financial reports $550M in crypto token sales.
On Monday, President Donald Trump’s crypto venture, World Liberty Financial (WLFI), announced that it had raised $250 million in its second token sale, bringing total sales to $550 million.
WLFI, backed by the Trump family, describes itself as a crypto banking platform and launched in October, just weeks before Trump’s election victory.
A launch document revealed that the Trump family could receive 75% of net revenue from the project.
In its latest update, WLFI stated that over 85,000 participants completed know-your-customer (KYC) verification to access the token sale.
Co-founder Zach Witkoff, son of billionaire Steve Witkoff, said WLFI is set to “supercharge DeFi” (decentralized finance).
Meanwhile, Tron blockchain founder Justin Sun increased his WLFI token holdings to $75 million in January. A court filing in February indicated that Sun and the SEC were negotiating a resolution to the regulator’s civil fraud case against him.
WLFI is among several crypto initiatives linked to the Trump family, emerging as the former president promotes a crypto-friendly agenda. Earlier this month, Trump signed an executive order establishing a Strategic Bitcoin Reserve.
Additionally, a White House memo last week revealed that David Sacks, the administration’s AI and crypto czar, sold over $200 million in digital assets through personal and firm-related investments before assuming his role.
Sacks explained in a podcast that he wanted to avoid any perception of a conflict of interest.
At the end of February, the SEC ruled that meme tokens are not securities, an announcement that followed President Trump and First Lady Melania Trump’s launch of their own meme coins just before Inauguration Day.
What's Your Reaction?
