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The digital assets venture championed by Donald Trump has achieved its ambitious target of raising $1 billion through token sales and has extended its offering to the public, capitalising on the surging enthusiasm for cryptocurrencies backed by the incoming US president.
World Liberty Financial (WLF), a project supported by Trump and his three sons, announced on Monday that it had successfully sold 21 billion tokens, exceeding its initial October launch target of 20 billion tokens, valued at $1 billion. The organisation revealed plans to release an additional 5 billion tokens from its 100 billion total supply, citing “massive demand and overwhelming interest”.
The remarkable surge in WLF token demand presents a striking contrast to its initial sluggish sales performance. The uptick coincides with the Trump family’s intensified involvement in cryptocurrencies ahead of the presidential inauguration. Both Donald Trump and his wife Melania recently launched their own memecoins, which experienced significant value appreciation, while Eric Trump, an active WLF promoter, attended a cryptocurrency industry gala in Washington to celebrate his father’s upcoming presidency.
Crypto entrepreneur Justin Sun has emerged as a significant investor, contributing an additional $45 million to WLF, bringing his total investment to $75 million. Sun, currently facing legal challenges from US securities regulators over fraud allegations, demonstrates unwavering confidence in the project despite ongoing regulatory scrutiny.
The cryptocurrency market has responded positively to Trump’s crypto-friendly stance, with Bitcoin briefly touching a new record high of $109,000. The appointment of crypto-advocates to key positions, including Paul Atkins as SEC head and David Sacks as AI and crypto tsar, signals a potential shift in regulatory approach.
Industry observers have raised concerns about potential conflicts of interest, particularly regarding the Trump Organisation’s involvement in memecoin trading revenues. The market has shown volatility, with the Donald Trump memecoin falling to $52 from its weekend high of $75, while the Melania Trump memecoin declined to $8.43 from its peak of $13.64.
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