Donald Trump-backed crypto project World Liberty Financial closed its second token sale, bringing its cumulative fundraising to $550 million.

The $250 million round saw 85,000 U.S. and non-U.S. accredited investors participate in a simultaneous set of sales. The project's WLFI tokens are not for sale publicly

Donald Trump-backed crypto project World Liberty Financial has closed the second part of its second token sale, bringing its cumulative fundraising to $550 million.

The second part of the token sale raised $250 million from 85,000 U.S. and non-U.S. accredited investors in a simultaneous set of sales.

The project’s WLFI tokens are not for sale publicly through exchanges and cannot be traded by their buyers at this point. They are intended as governance tokens only.

According to the project’s “gold paper” 75% of the proceeds of the sales go to a company connected to President Donald Trump and his family. The remaining 25% goes to Axiom Management Group, a company owned by WFLI co-founders Zachary Folkman and Chase Herro.

“This milestone proves that those who truly understand crypto and finance recognize what we’re building — and that WLFI is on track to supercharge DeFi as it transforms global finance in the coming years,” said Zach Witkoff, WLFI co-founder. “The token sales are just the beginning. We’re gearing up to launch a wave of disruptive technology that will redefine the boundaries of what’s possible with digital assets.”

The company has assembled a strategic reserve of cryptocurrencies, notably ETH and WBTC, with stablecoins USDC and USDT and Justin Sun-founded Tron’s TRX also featuring.

Sun was an early investor in WLFI, investing $30 million after it began token sales with a shaky start. His investment kickedstarted sales, and he was brought on as an adviser to World Liberty Financial. In January, he reportedly increased his stake to $75 million.