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Cryptocurrency News Articles
World Liberty Financial Opens KYC for WLFI Token Sale
Sep 30, 2024 at 11:20 pm
Cryptocurrency platform World Liberty Financial, the key backer of the Trump family, has started the KYC verification process for investors looking to buy its WLFI governance token.
World Liberty Financial, a cryptocurrency platform that is notably backed by the Trump family, has begun the KYC (Know Your Customer) verification process for investors interested in purchasing its WLFI governance token.
Accredited investors will be required to complete the KYC verification process in order to participate in the token sale.
World Liberty Financial is launching the WLFI token as a DeFi (decentralized finance) project, which will require KYC verification and permit only accredited investors to purchase the tokens. It will sell 63% of the tokens to the public.
The token sale comes after World Liberty Financial announced plans to launch its own cryptocurrency, which will be used to fund conservative causes and candidates.
The company, which is now called Trump Media, has stated that it will launch a digital asset called TRUTHSocial.
According to the filing, World Liberty Financial will sell up to 1 billion tokens, with 63% of them being sold in the token generation event (TGE) and the remaining 37% being used for development, marketing, and other purposes.
Accredited investors will be able to purchase tokens during the TGE, which will take place over a period of 90 days.
The tokens will be sold for a minimum of $0.01 and a maximum of $0.10 each, and investors will be able to purchase a minimum of $100 and a maximum of $100,000 worth of tokens.
World Liberty Financial will use the proceeds from the token sale to fund its operations, including the development of its cryptocurrency platform and the launch of conservative causes and candidates.
The company has stated that it will use a portion of the proceeds to purchase airtime on conservative media outlets and to donate to conservative organizations.
The SEC filing also includes a disclaimer stating that the information in the filing is not intended to be investment advice and that investors should conduct their own due diligence before making any investment decisions.
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