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Trump’s World Liberty Financial Raises $250 Million in Second Token Sale
World Liberty Financial (WLFI), a cryptocurrency project associated with former President Donald Trump, announced on Monday that it successfully raised $250 million during its second token sale. This recent influx brings the total amount raised through token sales to an impressive $550 million.
WLFI, which describes itself as a crypto banking platform, first launched in October 2024, just weeks prior to Trump’s election victory. According to initial documentation from WLFI, it was noted that the Trump family could retain 75% of the platform’s net revenue, suggesting a significant financial interest in its success.
In this latest announcement, WLFI reported that over 85,000 participants completed the necessary know-your-customer (KYC) verification to take part in the token sale. Co-founder Zach Witkoff, who is the son of billionaire U.S. envoy Steve Witkoff, emphasized that “WLFI is on track to supercharge DeFi,” referring to the expanding sector of decentralized finance.
Notably, Justin Sun, the founder of the Tron blockchain, has increased his investment in WLFI tokens to $75 million. A recent court filing highlighted that Sun and the U.S. Securities and Exchange Commission (SEC) are exploring a potential resolution to a civil fraud case currently involving the crypto entrepreneur.
WLFI is one of multiple cryptocurrency initiatives connected to the Trump family that have emerged alongside the president’s advocacy for a crypto-friendly environment. Earlier this month, President Trump signed an executive order with the aim of creating a Strategic Bitcoin Reserve.
Moreover, a memo released by the White House revealed that David Sacks, the administration’s appointed czar for AI and crypto, had divested over $200 million in digital asset-related investments, utilizing both personal funds and actions through his firm, Craft Ventures, before assuming his position. Sacks has expressed a desire to avoid any appearance of conflict of interest.
In late February, the SEC made headlines by declaring that meme tokens do not qualify as securities. This announcement came shortly after the recognition and announcement of meme coins launched by both President Trump and First Lady Melania Trump leading up to the inauguration.
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