A decentralized finance (DeFi) project World Liberty Financial (WLFI) reportedly related to the Trump family has denied claims that it is selling its WLFI tokens. Blockworks reported these allegations, saying WLFI had approached blockchain projects to do in exchange for their unlaunched tokens with other cryptocurrencies. The report states the company was selling $10 million worth of tokens that had a 10 percent fee for swaps.
For its part, World Liberty Financial issued a statement on social media on February 3. As reported, the company stated that it’s in no way selling tokens but simply transferring crypto assets as part of its regular business operations. However, they clarified that these actions are made only for managing their treasury and covering the expenses and are not selling of tokens.
This comes as the project has raised $300 million by selling 20% of its WLFI token supply. Big investors, which include Tron founder Justin Sun and who bought $30 million worth of tokens, were drawn to the sale. The company also planned to sell an additional 5% of the remaining supply due to huge demand in WLFI tokens.
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As of now, World Liberty Financial holds $373 million worth of cryptocurrencies, like a large sum of Ethereum (ETH) and Wrapped Bitcoin (WBTC). Launched before the 2024 US presidential election, the project instead seeks to enable crypto holders from earning interest on their assets and to use assets as collateral when borrowing.While being successful, WLFI has been criticized by infamous people such as billionaire Mark Cuban and former White House communications director Anthony Scaramucci for being a ‘scam’ and ‘desperate’. Nevertheless, WLFI still claims that it is concerned with its regular business activities and is not involved with token sales.
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