World Liberty Financial Completes $550M Token Sale
World Liberty Financial Completes $550M Token Sale
World Liberty Financial (WLFI), a cryptocurrency project with ties to the Trump family, successfully concluded its token sale, raising $550 million. The sale, which began in October 2024, involved multiple phases and adjustments to the initial funding target to adapt to market conditions.
Fundraising Success and Initial Challenges
While the initial goal was $300 million, WLFI faced early challenges. However, later token offerings generated significant investor interest, ultimately surpassing the revised target. The first phase ended January 20th, distributing 20% of the total token supply. High-profile investors, including Justin Sun, participated in the early stages. A surge in demand prompted an additional 5 billion token issuance at $0.05 each, nearly selling out by March 13th.
This follows the recent announcement of the SUI Strategic Reserve, further demonstrating WLFI's commitment to decentralized finance (DeFi) and sparking a price increase in SUI.
Token Lock-up and Governance
All purchased tokens are subject to a 12-month lock-up period, preventing immediate trading. The WLFI governance token allows holders to participate in proposal voting within the WLFI Protocol. Importantly, it does not offer financial returns, ownership rights, or direct economic benefits; its utility is solely focused on governance. Transactions require an ERC-compatible wallet, and investors underwent KYC and AML verification. Token distribution to designated wallets was scheduled for the end of the sale period. Investors are fully responsible for investment risks.
Portfolio Performance and Market Volatility
Despite the successful fundraising, WLFI's cryptocurrency portfolio experienced significant losses. Initially investing $336 million in various digital assets, the portfolio's value declined to $226 million by March 10th due to market downturns. Ethereum, comprising 65% of holdings, dropped from an average purchase price of $3,240 to approximately $1,896 per token, significantly impacting the overall portfolio value.
However, WLFI recently acquired 541,242 SEI tokens, resulting in a 7% increase in SEI's price. This highlights WLFI's continued activity in the altcoin market.
Disclaimer: This news piece is for informational purposes only and does not constitute financial advice. Conduct thorough research before investing in cryptocurrencies. Codeum is not responsible for any personal financial losses.
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