The Trump family-affiliated decentralized finance (DeFi) project World Liberty Financial (WLFI) has completed its second set of token sales.
The DeFi protocol sold $250 million worth of its native WLFI tokens following a $300 million sale in October, per a new press release.
The project originally said that 63% of all WLFI would be sold to the public, but according to its current whitepaper – or “gold paper”– World Liberty Financial appears to have lowered that to 35%.
World Liberty says more than 85,000 total participants underwent a know-your-customer (KYC) process to determine eligibility for the token sales.
The DeFi project has invested in a “strategic reserve” of 11 different crypto assets, but the blockchain tracking firm Lookonchain noted over the weekend that WLFI’s portfolio is losing on every single token and down nearly $120 million in total.
World Liberty notes in the fine print on its website that President Donald Trump is not an officer, director, founder, or employee of the firm or any of its affiliates, but the company does list the president as its “Chief Crypto Advocate.”
World Liberty’s website also states that DT Marks DEFI LLC, an entity affiliated with Trump and some of his family members, holds 22.5 billion WLFI tokens and is entitled to receive fees from the project.
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