What to know:
- World Liberty Financial (WLFI), a crypto project backed by Donald Trump, has successfully closed its token sale, raising approximately $590 million.
- The project's co-founder, Zak Folkman, credited Tron's Justin Sun for the success of the token sale, following Sun's investment of $30 million.
- The WLFI token was only available to accredited investors and cannot be transferred or publicly sold on exchanges, with no set date for an exchange listing.
World Liberty Financial (WLFI), the Donald Trump-backed crypto project, has closed its token sale after raising approximately $590 million.
The project's raise of $590 million would put it in the top-10 list of token raises, according to data curated by ICODrops. To date, the largest token sale is EOS, which raised $4.21 billion.
EOS is a blockchain platform developed by Block.one, which later founded Bullish, CoinDesk's owner.
On stage at Consensus 2025 in Hong Kong, WLFI co-founder Zak Folkman credited Tron's Justin Sun with the success of the project's token sale.
After WLFI first launched its sale, its critics called the momentum sluggish. But this changed after Sun invested $30 million into it in November 2024 and later invested more.
"When we were launching this project, it was a very heated time," Folkman said during Consensus. "There was a lot of scrutiny on our project due to who was involved."
This meant that traditional crypto VCs would not touch the token.
"[Sun] saw that regardless of the outcome, this project is a monumental move forward for the entire crypto community," Folkman added during the Consensus panel.
Rules around WLFI's token sale mean that the token was only available to accredited investors and can't be transferred or publicly sold on exchanges. A date has not been set for an exchange listing.
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