World Liberty Monetary, a decentralized finance (DeFi) undertaking backed by the Trump household, has accomplished its second public token sale, elevating $250 million from buyers.
WLFI launched on Sept. 16, 2024, with the purpose of selling DeFi and stablecoins pegged to the US greenback. The undertaking is endorsed by President Donald Trump and his sons — Eric, Donald Jr. and Barron — who've positioned it as a step towards monetary innovation and a shift away from conventional banking.
The corporate has now raised about $550 million by promoting 25% of the crypto asset’s whole provide. Its first token sale, which opened on Oct. 15, 2024, netted the corporate about $300 million by promoting 20 billion WLFI tokens for $0.015 every.
On Jan. 20, the corporate announced another round of token sales “because of large demand and overwhelming curiosity,” providing 5 billion tokens at $0.05 every — a 230% value enhance from the primary sale. The sale, completed on March 14, met its full goal of $250 million.
WLFI raised over $590 million since launch
Even earlier than the general public token gross sales, the corporate had been attracting funding from crypto executives. On Nov. 25, 2024, Tron Founder Justin Solar announced a $30 million investment in WLFI. Etherscan knowledge reveals Solar received 2 billion WLFI tokens in return at $0.015 a chunk.
On Jan. 27, funding platform Web3Port announced a $10 million funding into the crypto undertaking. The corporate stated it plans further purchases and is exploring a “long-term partnership” with the DeFi undertaking.
On Feb. 11, enterprise capital agency Oddiyana Ventures announced a strategic funding in World Liberty Monetary. Nonetheless, the corporate didn't disclose how a lot it invested.
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WLFI faces neighborhood issues over legitimacy and enterprise mannequin
Whereas the corporate has raised over half a billion {dollars}, some crypto neighborhood members voiced issues about whether or not it gives innovation or is simply one other money seize.
In an X put up, 6MV managing companion Mike Dudas stated the undertaking was a “pay-to-play” scheme, not a DeFi gateway that may introduce new users to crypto.
Yearn.finance creator and Sonic Labs co-founder Andre Cronje additionally questioned the corporate’s excessive charges and reinvestment methods. The chief stated the corporate merely extracts worth from crypto corporations fairly than offering utility.
WLFI has not publicly addressed these criticisms.
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