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Trump's Crypto Business Slashes Fundraise Goal by 90% After Lackluster Sales

Author: Content Editor
Donald Trump's crypto business, World Liberty Financial, has reduced its fundraising goal from $300 million to $30 million after falling significantly short of its initial target. The company plans to terminate sales of its WLFI token once it reaches $30 million. Trump's entity, DT Marks DEFI LLC, is set to receive 75% of net protocol revenues once the $30 million fundraising goal is reached. However, World Liberty Financial has struggled to raise funds, with the wallet receiving just over $14 million since its launch. The lack of demand may be due to investor apprehension about the company's fundamentals, as the WLFI token has no mechanism to accrue value and is a governance token over a protocol that does not yet exist. The company sold nearly 1 billion WLFI tokens at a valuation of $1.5 billion, but the tokens remain frozen until further notice. Trump's company is expected to receive 22.5 billion WLFI tokens worth over $330 million at the public sale valuation. The precise nature of World Liberty Financial's operations is unclear, but it aims to provide access to crypto investment opportunities and may launch a stablecoin in the future.

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