Trump Family Takes Control of Crypto Platform: Details of the $590 Million Deal.

According to inkorr.com: The family of U.S. President Donald Trump has strengthened its control over the DeFi platform World Liberty Financial (WLF), which raised $590 million through token sales.

Management Changes

According to

Reuters

Launch of Crypto Bank

In September 2024, WLF plans to present itself as a crypto bank, where clients will be able to take out loans, lend, and invest in digital assets. Although the project has not yet started, it has already conducted a sale of governance tokens WLFI.

Number of Investors

About 85 thousand investors participated in two token sales of this asset. Approximately 75% of the raised funds came from wallets that spent at least $100 thousand, and over half came from purchases of $1 million and more.

Anonymous Investors

It is worth noting that most large investors tend to remain anonymous. Among the known investors is TRON founder Justin Sun, who invested $30 million in WLFI.

Income Distribution

Currently, the family of the U.S. president is entitled to 75% of the net income and 60% of the operations of the DeFi platform, once the business begins its activities. After paying the co-founders WLF, the company will be left with only 5% of the raised $590 million, according to Reuters.

Trading of WLFI Token

On September 1, trading of the WLFI token from the Trump family’s DeFi project began on major exchanges Binance, Upbit, and Gate. The initial price was $0.30.

The asset's market capitalization exceeded $8.3 billion, and at the time of writing, the price had dropped to $0.25.

Given the activity surrounding the WLFI token, it can be claimed that interest in digital assets and DeFi projects remains high. With the launch of the WLF crypto bank in 2024, the platform will have the opportunity to attract even more users and investors. This indicates that the cryptocurrency market continues to develop despite fluctuations and uncertainty in the economy.