Donald Trump’s World Liberty Financial has lowered its public sale target from $300 million to $30 million after underwhelming initial sales.
According to a recent SEC filing, the crypto venture announced it would close the WLFI token public sale once this revised target is achieved. Initially aiming to raise $300 million, World Liberty Financial’s public sale has only brought in about $2.7 million so far, leaving roughly $285.7 million worth of tokens unsold. The current $30 million target means the company still has approximately $27.3 million worth of tokens to sell before closing the offering.
Additionally, World Liberty Financial intends to introduce a dollar-backed stablecoin on its platform, which focuses on decentralized lending and borrowing through the Ethereum-based Aave protocol. However, the company has not yet provided a timeline for this launch.
Former President Trump reaffirmed his support for the crypto sector on social media, promising to end what he described as Kamala Harris’ “war on crypto” and advocating for Bitcoin production in the U.S. He also marked the anniversary of the Bitcoin Whitepaper, further solidifying his pro-crypto stance. Trump’s support has garnered enthusiasm within the crypto community, which hopes his possible victory in the upcoming November 5 election will boost the sector. While market optimism surrounds his candidacy, BitMEX co-founder Arthur Hayes commented that Bitcoin could reach new highs regardless of the election’s outcome, casting doubt on Trump’s genuine commitment to crypto.
