tl;dr
World Liberty Financial (WLFI), a decentralized finance (DeFi) project associated with the Trump family, has completed its second round of token sales, totaling $250 million. Despite initially stating that 63% of WLFI tokens would be sold to the public, the current whitepaper indicates a decrease to...
World Liberty Financial (WLFI) has completed its second round of token sales, securing $250 million. The project had initially planned to sell 63% of WLFI tokens to the public, but the current whitepaper indicates a decrease to 35%. Over 85,000 participants underwent a know-your-customer (KYC) process to qualify for the sales. However, WLFI's portfolio, consisting of 11 different crypto assets, has faced significant losses, nearing $120 million. Despite President Donald Trump not having direct involvement with the firm, he is labeled as its "Chief Crypto Advocate." Additionally, an entity associated with Trump and his family holds 22.5 billion WLFI tokens and is set to receive project fees.
The decentralized finance (DeFi) project, World Liberty Financial (WLFI), has completed its second token sale, reaching a total of $250 million following a $300 million sale in October. The project had previously stated that 63% of all WLFI would be sold to the public, but it appears to have lowered that to 35% according to its current whitepaper. Over 85,000 participants underwent a know-your-customer (KYC) process to determine eligibility for the token sales. WLFI's portfolio, comprising 11 different crypto assets, has experienced losses, with Lookonchain reporting a total loss of nearly $120 million. Although President Donald Trump is not directly affiliated with the firm, he is recognized as its "Chief Crypto Advocate." Furthermore, DT Marks DEFI LLC, linked to Trump and some of his family members, holds 22.5 billion WLFI tokens and is entitled to receive fees from the project.