World Liberty Financial, the crypto project backed by former president and current Republican candidate Donald Trump, has gone live with its token sale.
According to the project’s website, after a day of sales, the project sold 796 million WLFI tokens out of a total of 20 billion, or about 4% of the target.
At the time of writing, WLFI has a price of $0.015, which implies a $300,000,000 valuation of the tokens available for public sale, but the project is targeting a fully diluted valuation (FDV) of $1.5 billion.
The project originally said that 63% of all WLFI would be sold to the public, but according to its current whitepaper – or ‘goldpaper’ – World Liberty Financial appears to have reduced that to 35%.
World Liberty Financial says it is the “only DeFi platform inspired by Donald J. Trump” and aims to lead a “financial revolution by dismantling the stranglehold of traditional financial institutions and putting power back where it belongs: in your hands.”
A Federal Election Commission (FEC) filing shows that a Trump political action committee (PAC) has donated more than $7.5 million in crypto to the former president’s campaign, including in Bitcoin (BTC), Ethereum (ETH) , XRP and USDC.
Trump has indicated that under his potential presidential administration the US government’s anti-crypto agenda would end, and has even proposed a Bitcoin treasury to help straighten out the country’s finances.
The Republican candidate for president floated the idea in a recent interview on Fox Business, though he didn’t elaborate on how.
“Who knows, we might pay off our $35 trillion [debt]Give them a small crypto check, right? We give them a little Bitcoin and destroy our $35 trillion.”
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