WLFI raised $550 million in its token sale. The token sales achieved a 100% sale after an initial slump before the issuance of TRUMP tokens.
World Liberty Financial (WLFI), a decentralized finance (DeFi) project that former U.S. President Donald Trump and his sons are involved in, has reportedly raised $550 million in a token sale.
The fundraising process, which was completed on March 13, was announced on the official project website.
The tokens went on sale for $0.015 per token, aiming to raise $300 million through the issuance of 20 billion tokens.
The project, which is focused on decentralizing finance and promoting stablecoins pegged to the U.S. dollar, was launched in September. The initial token sale, which began on October 15, managed to achieve a 70% sale, reaching $11 million out of the targeted $30 million.
Interest in the project, which is linked to Trump through a licensing deal for his name and image, seems to have increased after the official issuance of the Trump tokens (TRUMP) and Melania meme (MELANIA) drove up demand for cryptocurrencies bearing the Trump name and likeness.
The project's website now claims that the token sale achieved a 100% sale with a total of $550 million raised.
Among the largest buyers were Justin Sun, a prominent figure in the cryptocurrency industry, and the Trump family themselves.
The funds will be used to expand WLFI's DeFi applications and services, aiming to create a decentralized financial ecosystem.
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