Crypto Venture Backed by Trump's Family Reports $1M in ETH Gains After Token Sale
World Liberty Financial, a crypto project linked to Donald Trump's family, saw its ether holdings increase by $1 million following a token sale that fell short of expectations.
World Liberty Financial, a decentralized finance (DeFi) initiative backed by Donald Trump's family, recently reported unrealized gains of $1 million from Ethereum (ETH) after a subdued token sale last month.
The company revised its fundraising target, decreasing it from $300 million to $30 million due to weak investor interest, having sold over 1 billion WLFI tokens priced at $0.015 each. Despite sluggish sales, the value of its ether holdings surged, influenced by a significant rise in ETH's price—more than 16%.
Currently, the WLFI token, criticized for being "non-transferrable", poses limitations on investors seeking to trade or liquidate assets for profit. However, there's a prospect for change contingent on governance decisions, although no specific timelines have been articulated.
In light of Donald Trump's recent electoral victory, ether has reached its peak value since August, with ongoing market fluctuations impacting its performance.