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Trump launches World Liberty Finance, aiming to raise $300M

Trump launches World Liberty Finance, aiming to raise $300M

GrafaGrafa2024/10/11 01:30
By:Isaac Francis

Former U.S. President Donald Trump, along with his three sons, has launched a new decentralised finance (DeFi) project called World Liberty Finance (WLFI). 

The project plans to raise $300 million through the sale of 20% of the WLFI token supply, with a projected valuation of $1.5 billion. 

The token sale is expected to take place next week. 

World Liberty Finance aims to make a substantial impact on the financial market by selling its WLFI governance tokens, which will be used for voting on platform development. 

According to the project’s plan, 63% of the total token supply will be made available for public sale in the future. 

In addition, 17% of tokens are reserved for user rewards, while 20% is allocated for the team. 

The WLFI tokens will remain non-transferable for the first 12 months following the initial sale. 

Donald Trump serves as the Chief Crypto Advocate for the project, while his sons act as Web3 Ambassadors. 

The founding team includes notable figures such as Steve and Zach Witkoff, Zak Folkman, and Chase Herro. 

Luke Pearson from Polychain Capital has been appointed as the platform president, and Corey Caplan, co-founder of Dolomite, will lead technical strategy. 

Trump’s evolving stance on cryptocurrencies has been a key highlight of his recent campaign. 

Once a vocal critic of digital assets, calling them "dollar-killing scams" in 2021, Trump has shifted his approach, embracing the potential of cryptocurrencies. 

Last month, at a Bitcoin (CRYPTO:BTC) conference in Nashville, he expressed his ambition to make the U.S. the “crypto capital” and has actively participated in digital markets, including NFTs.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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