World Liberty Financial (WLFI) Secures $550 Million in Funding with Trump Family Support

World Liberty Financial (WLFI), backed by Donald Trump and his sons, has completed its token sale today, raising $550 million in funds. This update was announced on WLFI’s official website.

Launched in September, WLFI focuses on promoting decentralized finance (DeFi) and USD-pegged stablecoins to maintain the dollar’s prominence in global finance. The project’s main feature is a DeFi lending platform, similar to Aave, operating on the Ethereum blockchain and supporting Bitcoin, Ethereum, and stablecoins.

The governance token of the project, WLFI, was launched for public sale on October 15 with a target of raising $300 million. The initial sale involved 20 billion tokens priced at $0.015 each, limited to whitelisted individuals.

However, the initial sale underperformed, raising only $11 million from the sale of 766 million tokens. Due to low demand, the target was reduced to $30 million.

Trump’s Meme Coins Boost WLFI’s Success: $550 Million Raised

During the token sale, a shift occurred after the release of Trump’s official token, Official Trump (TRUMP), and Melania Meme (MELANIA) tokens. The success of these meme coins sparked increased interest in Trump-related crypto, positively impacting WLFI.

The initial token sale for World Liberty Financial closed on January 20, with 20% of the token supply sold. Due to growing demand, the project released an additional 5 billion WLFI tokens on January 20, priced at $0.05 each. By March 13, 99% of the additional tokens had been sold.

WLFI token holders can participate in decisions related to the WLF Protocol. The tokens are non-transferable for the first 12 months after launch.

Trump Family and Justin Sun Make Major Investments in WLFI Project

The project is led by Donald Trump’s sons, Eric Trump and Donald Trump Jr., with Barron Trump serving as the “DeFi visionary.” However, the project’s whitepaper clearly states that the Trump family does not own or manage the project, although they may receive compensation.

Tron founder Justin Sun is one of WLFI’s largest investors. Sun purchased $30 million worth of WLFI tokens last November, becoming the largest investor at the time. Later, on January 19, he increased his investment by an additional $45 million, bringing his total stake to $75 million.

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The post The Trump Family Completes WLFI Token Sale, Raising $550 Million appeared first on Coin Engineer.