Trump-affiliated World Liberty Financial seeking $1.5 billion for WLFI treasury company: Reports
Quick Take
- World Liberty Financial, the DeFi project backed by the Trump family, is seeking to raise an additional $1.5 billion for a publicly traded treasury company that would hold its WLFI tokens, Bloomberg and Fortune reported.
- WLFI tokens will soon become tradable on exchanges, following a near-unanimous vote in July from token holders.
Trump family-backed DeFi project World Liberty Financial is seeking to raise around $1.5 billion from investors in order to set up a publicly traded treasury company that would hold the project's WLFI tokens, Bloomberg reported Friday.
Discussions with investors in the tech and crypto industries are "advancing rapidly," according to the report, which said the structure of the deal is still being finalized. The proposal calls for Eric Trump and Donald Trump Jr., sons of President Donald Trump, to serve on the board, Fortune reported.
The creation of a WLFI treasury company is unsurprising given the recent explosion of digital asset treasury companies, holding assets such as bitcoin and Ethereum and lesser-known tokens like HYPE and TAO.
World Liberty Financial has been accumulating tokens from other crypto projects to form its own digital asset treasury. The firm has nearly $55 million worth of Ethereum (some of it staked), $19 million worth of wrapped bitcoin tokens, nearly $14 million worth of Tron, and millions of dollars more worth of EOS, Mantle, Ondo, and more, according to Arkham data.
The project's WLFI tokens, which it offers alongside its USD1 stablecoin, is not currently tradable by investors, but will be unlocked for trading in the future following last month's near-unanimous vote by token holders. Only tokens sold to early backers will be unlocked, with the release schedule of the remaining WLFI tokens from its 100 billion total supply to be decided by a second community vote.
The project is also planning to distribute points to users of its USD1 stablecoin, The Block previously reported. President Trump's involvement in the project, as its "co-founder emeritus," has raised conflict of interest complaints from critics.
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