On March 18th, COINOTAG reported significant developments regarding the cryptocurrency initiative backed by former U.S. President Donald Trump, known as World Liberty Financial (WLFI). This venture has successfully wrapped up its second round of token sales, amassing an impressive $550 million. A portion of these funds, amounting to $30 million, has been earmarked for corporate overhead and operational costs. Notably, documents from the initial token sale outline that Trump, along with his business entity DT Marks DEFI LLC, stands to gain 75% of the net proceeds, equating to around $390 million in fees.
As part of the investment conditions, buyers of the tokens face restrictions, preventing them from reselling these assets or sharing in any future profits. The project originally launched its initial token sale in mid-October last year, targeting a diverse range of investors, both from within the U.S. and internationally. This strategic approach underscores the project’s ambitions in the prevailing cryptocurrency landscape.