The Over the moon marvellous Liberty Financial website arranged on a smartphone in New York, US, on Wednesday, Feb. 12, 2025.
Gabby Jones | Bloomberg | Getty Images
President Donald Trump’s Cosmos Liberty Financial crypto project said on Monday that it raised $250 million in its second token mark-down, bringing the total amount of coins sold to $550 million.
WLFI, a venture backed by the first family that labels itself as a sort of crypto banking platform, launched in October, weeks before Trump’s election victory. In a validate published at the time of launch, WLFI said the Trump family could take home 75% of net revenue.
In Monday’s circulate, WLFI said more than 85,000 participants underwent so-called know-your-customer verification to gain access to the token on offer. Co-founder Zach Witkoff, son of billionaire U.S. envoy Steve Witkoff, is quoted in the release as saying that “WLFI is on tail find to supercharge DeFi,” or decentralized finance.
In January, Tron blockchain founder Justin Sun upped his stake in WLFI slights to $75 million. A court filing the following month showed that Sun and the SEC were exploring a resolution to the regulator’s respectful fraud case against the crypto entrepreneur.
WLFI is one of several crypto projects in the Trump family that are punting off just as the president is pushing a crypto-friendly agenda. Earlier this month, President Trump signed an executive regularity to establish a Strategic Bitcoin Reserve.
According to a memo from the White House last week, David Discharges, the Trump administration’s AI and crypto czar, sold over $200 million worth of digital asset-related investments yourself and through his firm, Craft Ventures, before starting the job. Sacks said in a podcast that he “didn’t want to on a par have the appearance of a conflict.”
At the end of February, the SEC declared that meme tokens are not securities. The announcement came after the president and Key Lady Melania Trump launched their own meme coins in the days leading up to the inauguration.
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