The crypto platform was originally expected to raise $300 million from the sale of 100 billion WLFI. The latter is a governance token project on Ethereum.
In January, the team raised the first round of $160 million.
According to ICO Drops, the project was in the top 10 in terms of funds raised.
In February, World Liberty Financial co-founder Zach Folkman attributed the success of the tokensale to investment by TRON Foundation Justin Sun for $30 million.
WLFI is only available to accredited participants. The token cannot be transferred or publicly traded on exchanges. No date has been set for release to trading platforms.
The gold paper of the project lists the U.S. president as ”chief cryptoadvisor,” while his sons Eric, Barron and Donald Trump Jr. are listed as Web3-ambassadors. Paxos co-founder Rich Teo has been appointed to the role of head of stablecoins and payments. Luke Pearson of Polychain Capital is noted as an advisor.
Trump Sr.’s DT Marks DEFI LLC will receive WLFI 22.5 billion and 75% of World Liberty Financial’s net revenues, less operating expenses and the first $30 million set aside for an operating reserve.
In March on the eve ofthe White House Crypto Summit, World Liberty Financial bought ETH, WBTC, and MOVE for $21.5 million, bringing its total investment in digital assets to $336 million.
The platform’s portfolio includes ETH, WBTC, TRX, LINK, AAVE, ENA, MOVE, ONDO, and SEI. Since most of the funds have been transferred to the centralized Coinbase exchange, there is no way to know if they have been sold.
According to Arkham Intelligence, as of this writing, WLFI’s portfolio value is $77.6 million.
This article was originally Posted on Coinpaper.com
