Trump-Backed Crypto Project WLFI Closes Token Sale After Raising $590 Million

World Liberty Financial Initiative (WLFI) Concludes Token Sale

WLFI Token Sale

The World Liberty Financial Initiative (WLFI), a cryptocurrency project backed by US President Donald Trump, has concluded its token sale, amassing approximately $590 million. This achievement places WLFI among the top 10 largest token raises in history, according to data from ICODrops.

WLFI Launch and Objectives

WLFI was launched in September 2024 to advance decentralized finance (DeFi) and promote US dollar-pegged stablecoins, aimed at strengthening the USD’s dominance in global markets. The project’s main offering is a DeFi lending platform. WLFI’s governance token was introduced for public sale on October 15, initially targeting a $300 million raise.

WLFI Token Sale Update

Initially, the token sale attracted only $11 million from 766 million tokens sold, with a total of 20 billion tokens available. In response to weak demand, the fundraising goal was lowered to $30 million. Interest in WLFI increased following the popularity of Trump-related meme coins, such as Official Trump (TRUMP) and Official Melania (MELANIA). By January 20, the initial sale had ended, with 20% of the total supply sold. Recognizing heightened demand, the project released an additional 5 billion tokens at $0.05 each, which nearly sold out by March 13.

WLFI Governance and Token Restrictions

WLFI holders will have governance rights over the WLF Protocol; however, tokens will remain non-transferable for the first 12 months post-launch.

WLFI Portfolio at $124M Loss

According to Lookonchain, World Liberty Financial Initiative’s portfolio of 9 crypto assets is now down $124 million, with significant losses coming from Wrapped Bitcoin (wBTC), Aave (AAVE), and Tron (TRX) due to market-wide turbulence. WLFI’s portfolio is heavily weighted in Ethereum, making up 65% of its holdings. The company acquired ETH at an average cost of $3,240 per token, but as the price fell to around $1,900 at press time, the altcoin’s depreciation has significantly impacted overall losses.

FAQs

Q: What is World Liberty Financial Initiative (WLFI)?
A: WLFI is a cryptocurrency project backed by US President Donald Trump, aiming to advance decentralized finance (DeFi) and promote US dollar-pegged stablecoins.

Q: How much did WLFI raise during its token sale?
A: WLFI raised approximately $590 million during its token sale.

Q: What is the purpose of WLFI’s DeFi lending platform?
A: WLFI’s DeFi lending platform is designed to advance DeFi and promote US dollar-pegged stablecoins, aiming to strengthen the USD’s dominance in global markets.

Q: Who is the largest investor in WLFI?
A: Tron’s founder, Justin Sun, is one of the largest investors in WLFI, having purchased $30 million worth of tokens.

Q: What is the current state of WLFI’s portfolio?
A: WLFI’s portfolio is currently down $124 million, with significant losses coming from Wrapped Bitcoin (wBTC), Aave (AAVE), and Tron (TRX) due to market-wide turbulence.