news 
Title: Trump-Backed Crypto Project WLFI Closes Token Sale After Raising $590 Million
WLFI’s crypto portfolio suffered a significant loss of $124 million due to declining Ethereum prices and broader market turbulence.
World Liberty Financial Initiative (WLFI), the cryptocurrency project backed by US President Donald Trump, has concluded its token sale. During this process, it amassed an impressive sum of approximately $590 million. This places WLFI among the top 10 largest token raises in history, as per data from ICODrops.
Unlike traditional cryptocurrencies that can be freely traded, WLFI tokens were exclusively available to accredited investors with restrictions preventing public trading or transfers. Additionally, no timeline has been announced for a potential exchange listing.
WLFI was launched in September of last year in an effort to advance decentralized finance (DeFi) and promote US dollar-pegged stablecoins to strengthen the USD’s dominance in global markets. The project’s main offering is a DeFi lending platform.
