However, the company did not disclose how much it invested. Related: Democrat lawmaker urges Treasury to cease Trump’s Bitcoin reserve plansWLFI faces community concerns over legitimacy and business modelWhile the company has raised over half a billion dollars, some crypto community members voiced concerns about whether it offers innovation or is just another cash grab. In an X post, 6MV managing partner Mike Dudas said the project was a “pay-to-play” scheme, not a DeFi gateway that would introduce new users to crypto. Yearn.finance creator and Sonic Labs co-founder Andre Cronje also questioned the company’s high fees and reinvestment strategies.
Its first token sale, which opened on Oct.15, 2024, netted the company about $300 million by selling 20 billion WLFI tokens for $0.015 each. On Jan.20, the company announced another round of token sales “due to massive demand and overwhelming interest,” offering 5 billion tokens at $0.05 each — a 230% price increase from the first sale.
World Liberty Financial, a decentralized finance (DeFi) project backed by the Trump family, has completed its second public token sale, raising $250 million from investors.WLFI launched on Sept.16, 2024, with the goal of promoting DeFi and stablecoins pegged to the US dollar.
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Author / Journalist: Cointelegraph by Ezra Reguerra
The story "Trump-backed World Liberty Financial nets $550M in token sales" has 406 words across 14 sentences, which will take approximately 2 - 4 minutes for the average person to read.
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