World Liberty Financial Initiative (WLFI), the cryptocurrency project backed by US President Donald Trump, has concluded its token sale.<\/p>\n
During the process, it amassed approximately $590 million.\u00a0This places WLFI among the top 10 largest token raises in history, as per data<\/a> from ICODrops.<\/p>\n Unlike traditional cryptocurrencies that can be freely traded, WLFI tokens were exclusively available to accredited investors, with restrictions preventing public trading or transfers. Additionally, no timeline has been announced for a potential exchange listing.<\/p>\n WLFI was launched in September 2024 in a bid to advance decentralized finance (DeFi) and promote US dollar-pegged stablecoins to strengthen the USD\u2019s dominance in global markets. The project\u2019s main offering is a DeFi lending platform.<\/p>\n The governance token, WLFI, was introduced for public sale on October 15 and initially targeted<\/a> a $300 million raise. The sale offered 20 billion tokens at $0.015 each but faced weak demand and attracted just $11 million from 766 million tokens sold. In response, the fundraising goal was lowered to $30 million.<\/p>\n Interest in WLFI increased following the popularity of Trump-related meme coins, such as Official Trump (TRUMP) and Official Melania (MELANIA). By January 20, the initial sale had ended, with 20% of the total supply sold. Recognizing heightened demand, the project released an additional 5 billion tokens at $0.05 each, which nearly sold out by March 13.<\/p>\n WLFI holders will have governance rights over the WLF Protocol; however, tokens will remain non-transferable for the first 12 months post-launch.<\/p>\n One of the most significant investors in WLFI is Tron\u2019s founder, Justin Sun, who purchased<\/a> $30 million worth of tokens in late November, becoming the top investor position at the time.<\/p>\n Meanwhile, Lookonchain revealed<\/a> that World Liberty Financial Initiative\u2019s portfolio of 9 crypto assets is now down $124 million, with some of the biggest losses coming from Wrapped Bitcoin (wBTC), Aave (AAVE), and Tron (TRX) as a result of the market-wide turbulence this week.<\/p>\n Interestingly, WLFI\u2019s portfolio is heavily weighted in Ethereum, which makes up 65% of its holdings. The company acquired ETH at an average cost of $3,240 per token, but as the price fell to around $1,900 at press time, the altcoin\u2019s depreciation has significantly impacted overall losses.<\/p>\n The post Trump-Backed Crypto Project WLFI Closes Token Sale After Raising $590 Million<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" World Liberty Financial Initiative (WLFI), the cryptocurrency project backed by US President Donald Trump, has concluded its token sale. During the process, it amassed approximately $590 million.\u00a0This places WLFI among the top 10 largest token raises in history, as per data from ICODrops. WLFI Token Sale Unlike traditional cryptocurrencies that can be freely traded, WLFI […]<\/p>\n","protected":false},"author":0,"featured_media":52015,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-52014","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/52014"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=52014"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/52014\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/52015"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}WLFI Token Sale<\/h2>\n
WLFI Portfolio at $124M Loss<\/h2>\n