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International Business Times
International Business Times
Business
Marvie Basilan

Trump-Backed WLFI Cuts Fundraising Goal From $300M To $30M After Underwhelming Token Sales

WLFI Donald Trump Donald Trump Jr. Eric Trump DeFi Crypto World Liberty Financial SEC
Donald Trump backs World Liberty Financial and has actively promoted the project on social media. (Credit: WLFI Website / Screenshot)

KEY POINTS

  • Only $14 million in crypto have been sent to the WLFI wallet from token buyers, as per Arkham data
  • There have been concerns about the project since its introduction to the crypto community
  • WLFI is supposed to be a DeFi protocol, but there is still no news about when the protocol will launch
  • Some crypto users believe the WLFI team didn't have the proper fundamentals to kickstart the project

World Liberty Financial, which Donald Trump has promoted in recent weeks, has filed with the SEC to disclose that it is reducing its fundraising goal from a staggering $300 million to only $30 million, marking a 90% cut from its initial sales target.

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