Trump Family's Cryptocurrency Platform Aims to Raise $1.5 Billion to Establish WLFI Token Publicly Traded Company
Bloomberg News reported on Saturday (August 9) citing sources, that the cryptocurrency project "World Liberty Financial" supported by the family of U.S. President Trump is in talks with investors, planning to raise $1.5 billion to establish a publicly traded company that will hold its issued WLFI token.
Reuters reported that the specific structure of this deal has not been finalized yet, but the company has already contacted major investors in the cryptocurrency and technology sectors regarding this joint venture plan.
Reuters is currently unable to independently verify the report. World Liberty Financial has declined to comment.
According to the company's official website, World Liberty Financial is a "decentralized platform," with co-founders including Trump and his son. Reuters estimates that since the platform's inception, the project has generated approximately $500 million in profits for the Trump family.
The WLFI token is currently not classified as a security by the U.S. Securities and Exchange Commission (SEC), and therefore is not subject to the same level of regulatory scrutiny as investment products such as stocks.
Original: www.toutiao.com/article/1840025367044108/
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