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Cryptocurrency News Articles
Donald Trump-backed World Liberty Financial Raises $550 Million in Its Token Sale
Mar 14, 2025 at 05:59 pm
World Liberty Financial, a decentralized finance project directly tied to the Trump family, has secured $550 million by selling its WLFI tokens, data from ICO Drops shows.
A new generation of decentralized finance projects is emerging, directly impacting the political landscape. One such project, World Liberty Financial, has secured a staggering $550 million in an ongoing token sale, pushing its total funding close to $600 million so far.
The project, which is directly tied to the Trump family through its co-founder, former Trump administration official Ivanka Trump's husband, has sold its WLFI tokens to raise the crypto behemoth. Data from ICO Drops reveals that the project has sold tokens for over $550 million so far.
The project's valuation is now thought to be over $1.5 billion, with earlier reports hinting that World Liberty Financial was aiming to raise $300 million to hit that mark. So far, the project has raised $590 million since November 2024, when it first got $30 million from China-born TRON founder Justin Sun.
It's unclear how many tokens were sold. Earlier reports hinted that World Liberty Financial might sell up to 20% of the token supply. The project's co-founder, Zak Folkman, reportedly mentioned on X that more than 60% of the supply would be sold to the public, while 17% is allocated for user rewards and 20% for the team.
In mid-February, crypto.news reported that World Liberty Financial sold over 24 billion tokens, leaving around 950 million tokens available for purchase when the project started in September. The initial plan was to offer 20% of its 100 billion WLFI tokens.
"We’ve completed our mission and sold 20% of our token supply," the project wrote in a Jan. 20 post on X.
However, with the rapid uptake of tokens at increasing price points, the platform seems to have decided to extend its token sale, possibly to capitalize on the momentum and raise more funds for its ongoing development.
"Due to massive demand and overwhelming interest, we’ve decided to open up an additional block of 5% of token supply. Please be patient while our team works to relaunch the sale. We’ll share updates here as soon as possible."
Stay tuned for more updates as they emerge.
In other news, a recent report by the U.S. Federal Reserve revealed that household debt rose slightly in the third quarter, countering expectations of a decline.
According to the Fed's latest report on consumer credit, total household debt increased by $150 billion from the second quarter to reach $16.05 trillion at the end of September. This represents a year-over-year rise of 7.2%.
Economists had anticipated a decrease in household debt to $15.9 trillion and a smaller annual increase of 6.4%.
The report further disclosed that consumer credit, which encompasses credit card debt and bank credit, grew by $79 billion to reach $5.14 trillion. This aligns with the projections of economists and follows a $71.8 billion surge in the second quarter.
Credit card debt alone jumped by $60.9 billion to hit $1.04 trillion, exceeding the predictions of a $50 billion increment and continuing the strong borrowing activity observed throughout the year.
Bank credit rose by $18 billion to reach $4.1 trillion, remaining in line with economists' estimates.
Mortgage debt, the largest component of household debt, edged up by $71 billion to $11.3 trillion, remaining in accordance with economists' projections. This brings the total increase in mortgage debt for the year to $369 billion.
The report also highlighted a decline in outstanding federal student loans, which decreased by $66 billion to $1.5 trillion. This aligns with economists' predictions and follows a $108.8 billion surge in the second quarter.
As the largest component of household debt, any changes in mortgage debt have significant implications for consumer spending and the overall economy. The substantial increases in mortgage debt throughout 2024 are a consequence of rising home prices and low interest rates, which have encouraged more people to buy houses and take out larger mortgages.
This trend has contributed to a booming real estate market and increased borrowing activity among consumers. However, it also raises concerns about the potential for a housing bubble and the impact on household finances if interest rates begin to rise.
The Federal Reserve closely monitors household debt levels and their impact on the economy. The central bank's actions, such as setting interest rates and buying or selling bonds, can influence borrowing costs and consumer spending habits.
In the third quarter, household debt came in at 103.21, while consumer credit was 32.16, and real estate credit was 68.36.
The data from the third quarter of 2024 provides a
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