$8.3 billion on stock listings: Trump raised his cryptocurrency assets by billions of dollars

The family of US President Donald Trump consolidated control over the DeFi platform World Liberty Financial (WLF), which raised $590 million through token sales.

According to information from Reuters, in January of this year it became known that two co-founders - cryptocurrency entrepreneurs Zachary Folkman and Chase Hero - are no longer controlling parties. Their place was taken by the legal company WLF Holdco, 60% of which belongs to the organization DT Marks.

In September 2024, WLF was presented as a crypto bank whose clients can take loans, lend, and invest in digital coins. The agency notes that this project has not yet started the declared activities, but conducted the sale of governance tokens WLFI.

Nevertheless, about 85 thousand investors participated in the two token sales of this asset. Approximately 75% of the raised funds came from wallets that spent at least $100 thousand, and more than half from purchases of $1 million and more.

At the same time, most large investors preferred to remain anonymous. It is also known that TRON founder Justin Sun invested $30 million in WLFI.

Currently, according to western media, the family of the US President has the right to 75% of the net income and 60% of the operations of the DeFi platform, as soon as the main business starts. According to Reuters, after the co-founders of WLF receive their share, the cryptocurrency enterprise will have 5% of the raised $590 million.

On September 1, trading of WLFI token from the DeFi project of the Trump family, World Liberty Financial, began on major exchanges Binance, Upbit and Gate. The starting price was $0.30.

The capitalization of the asset exceeded $8.3 billion. At the time of writing, the price has adjusted to $0.25.