Trump's Cryptocurrency Venture Cuts Fundraising Target by 90% After Slow Token Sales
After failing to meet its initial fundraising goal, Trump's World Liberty Financial has significantly reduced its target for the upcoming WLFI token sale, signaling potential delays in expected profits.
Donald Trump's crypto venture, World Liberty Financial, has drastically reduced its fundraising expectations, now aiming to generate only $30 million from the sale of its WLFI tokens, down from an initial target of $300 million. This adjustment comes after the company's sales efforts fell significantly short of their goals, as detailed in a recent SEC filing.
The shift in strategy indicates that Trump may face delays in receiving potential earnings from World Liberty Financial. The company plans to conclude WLFI sales once they reach the revised target of $30 million. Since its initiation, World Liberty Financial has shown difficulties, only generating approximately $14 million in cryptocurrency investments since launching in mid-October.
The new fundraising approach raises concerns over the attractiveness and perceived value of the WLFI tokens. Analysts noted that the governance token lacks inherent value, as it is associated with a protocol that, as of now, has not been implemented.
Moreover, Trump's affiliated entity, DT Marks DEFI LLC, is entitled to 75% of net revenues from the sale of WLFI tokens only after World Liberty Financial secures the $30 million required to operate.
For additional information, view the full article on CoinDesk.
