Trump Ethereum DeFi Project Gets Another Big Investment
DWF Labs has acquired $25 million in WLFI tokens from World Liberty Financial, a crypto project associated with Donald Trump and his family. WLFI serves as the native token for an Ethereum-based decentralized finance platform focused on crypto borrowing and lending. DWF Labs aims to enhance its presence in New York City and plans to provide liquidity for World Liberty Financial's newly launched stablecoin, USD1. The purchase reflects DWF Labs' interest in WLFI governance and addressing real-world financial needs, particularly the demand for institutional-grade stablecoins. World Liberty Financial co-founder Zak Folkman emphasized the transformative potential of crypto and stablecoins in global finance. Trump's involvement in the crypto sector includes launching a Solana meme coin and signing an executive order for a Bitcoin reserve. Critics have raised concerns about potential conflicts of interest regarding Trump's crypto initiatives.
