World Liberty Financial (WLFI), a decentralized finance (DeFi) project prominently endorsed by former U.S. President Donald Trump and his family, has successfully concluded its public token sale, raising an impressive $550 million. The sale, which wrapped up today, marks a significant milestone for the Trump-backed venture, despite initial hurdles and skepticism from parts of the cryptocurrency community.
The project, launched in September 2024, aimed to sell its governance token, WLFI, to fund the development of a DeFi platform focused on lending, borrowing, and promoting U.S. dollar-pegged stablecoins. According to data from WLFI’s official website and reports from outlets like Crypto Briefing and Cointelegraph, the token sale unfolded in two phases.
The first phase, initiated on October 15, 2024, targeted $300 million by offering 20 billion tokens at $0.015 each to whitelisted accredited investors. However, it fell short initially, raising just $11 million with 766 million tokens sold, as reported by CoinDesk. A second phase, spurred by surging demand, saw an additional 5 billion tokens released on January 20, 2025, at $0.05 each, ultimately pushing the total funds raised to $550 million.
The WLFI token, which is non-transferable for the first 12 months and carries no economic rights, serves solely as a governance tool, allowing holders to vote on platform decisions. This restriction has drawn criticism from some crypto observers, with Yearn.finance creator Andre Cronje questioning the project’s high fees and lack of clear innovation, as noted by Cointelegraph. Others, like 6MV managing partner Mike Dudas, have labeled it a “pay-to-play” scheme rather than a genuine DeFi gateway, per posts on X.
Despite the rocky start and mixed reception, the project gained traction, particularly after significant investments from high-profile figures. Tron founder Justin Sun emerged as a key backer, initially purchasing $30 million worth of tokens in November 2024 and later adding $45 million, bringing his total stake to $75 million, according to Crypto Briefing and Sun’s own X posts.
WLFI co-founder Zak Folkman credited Sun’s involvement as pivotal, stating at the Consensus conference, “Sun saw this project as a monumental move forward for the entire crypto community,” as reported by CoinDesk. Additional investments from firms like Web3Port ($10 million) and Oddiyana Ventures (undisclosed amount) further bolstered the sale, per Cointelegraph.
The Trump family’s involvement has been a double-edged sword, amplifying both interest and scrutiny. Donald Trump, titled the “Chief Crypto Advocate,” alongside sons Eric and Donald Jr. as “Web3 Ambassadors” and Barron as the “DeFi Visionary,” heavily promoted the project. While the whitepaper clarifies they neither own nor manage WLFI, the family is set to receive compensation and holds approximately 22.5 billion tokens, according to CoinGecko.
This connection has raised ethical concerns, with Reuters noting purchases like Sun’s sparking debate over potential conflicts of interest, especially given Trump’s recent inauguration as the 47th U.S. President.
WLFI’s treasury moves have also drawn attention. The project invested $336 million in assets like Ethereum, wrapped Bitcoin, and Tron’s TRX, though it has reportedly incurred $110 million in market-related losses as of March 10, per Blockonomi. Still, the platform aims to launch in Q3 2025 at a $1.5 billion fully diluted valuation, integrating with DeFi giants like Aave to offer lending services, as outlined in Blockworks.
