The World Liberty Financial website was adapted on a smartphone in New York, USA on Wednesday, February 12th, 2025.
Gabby Jones | Bloomberg | Getty Images
President Donald Trump’s World Liberty Financial Crypto Project said Monday that it raised $250 million in its second token sale, bringing the total amount of coins sold to $550 million.
WLFI is a venture backed by the first family to describe itself as a kind of crypto banking platform launched in October, weeks before Trump’s election victory. In a document released at the launch, WLFI said the Trump family could take home 75% of their net revenues.
In its release Monday, WLFI said more than 85,000 participants had undergone so-called knowledge validation to access to token sales. Co-founder Zach Witkov, the son of billionaire envoy Steve Witkov, said he was “wlfi is on the trajectory of a retiree” or decentralized financials.
In January, Tron Blockchain founder Justin San raised his WLFI Token stake to $75 million. A court filed the following month indicated that Sun and the SEC were investigating a resolution in a regulatory civil fraud case against Crypto entrepreneurs.
WLFI is one of several Trump crypto projects, kicking off just as the president is pushing a crypto-friendly agenda. Earlier this month, President Trump signed an executive order to establish a strategic Bitcoin sanctuary.
According to a White House memo last week, David Sacks, the Trump administration’s AI and Crypto Czar, sold over $200 million in digital asset-related investments personally and through his company, Craft Ventures, before starting his job. Sachs said on the podcast that he “didn’t even want to see a conflict emerge.”
At the end of February, the SEC declared that meme tokens were not securities. The announcement comes after the president and first lady Melania Trump launched her own meme coin in the days leading up to the inauguration.
Watch: Trump’s Bitcoin Reserve Disappoints Crypto Investors
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