President Trump’s World Liberty Financial Sells $550,000,000 Worth of WLFI Tokens to 85,000 Participants
The Trump family-affiliated decentralized finance (DeFi) project World Liberty Financial (WLFI) has completed its second set of token sales. The DeFi protocol sold $250 million worth of its native WLFI tokens following a $300 million sale in October, per a new press release. The project originally said that 63% of all WLFI would be sold to the public, but according to its current whitepaper – or “gold paper”– World Liberty Financial appears to have lowered that to 35%. World Liberty says more than 85,000 total participants underwent a know-your-customer (KYC) process to determine eligibility for the token sales. The DeFi project has invested in a “strategic reserve” of 11 different crypto assets, but the blockchain tracking firm Lookonchain noted over the weekend that WLFI’s portfolio is losing on every single token and down nearly $120 million in total. World Liberty notes in the fine print on its website that President Donald Trump is not an ...