Trump Family-Backed Crypto Project Makes $1M Gain in ETH Following Tame Token Sale
Summary
World Liberty Financial, a DeFi project linked to Donald Trump's family, achieved $1 million in unrealized gains after a subdued token sale. The fundraising goal was reduced from $300 million to $30 million due to low investor interest, with 1.02 billion WLFI tokens sold. The project raised $15.3 million, now valued at $16.25 million due to a 16% rise in ether prices. The token sale wallet holds 4,234 ETH and $4.2 million in stablecoins. WLFI tokens are currently non-transferrable, limiting liquidity. Sales have slowed, with $364,000 sold since November 1. Anthony Scaramucci labeled the project a "scam."
