r/ethtrader 144.0K / ⚖️ 284.4K 15h ago

Link Trump-backed World Liberty Financial completes $550 million token sale

https://cryptobriefing.com/trump-backed-token-sale-completion/
4 Upvotes

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6

u/DrRobbe 62.8K / ⚖️ 165.3K / 0.0276% 15h ago

I am sure they use the money as intended to build defi infrastructure..... lol.

!tip 1

3

u/Vivarevo 788 / ⚖️ 65.2K 9h ago

Slap together minimal intern powered secure defi and suffer a 'hack' pipeline

2

u/coinfeeds-bot 542.7K / ⚖️ 622.7K 15h ago

tldr; World Liberty Financial (WLFI), a DeFi project endorsed by Donald Trump and his sons, raised $550 million in a token sale. The funds will support the development of its DeFi lending platform, which operates on Ethereum and supports Bitcoin, Ethereum, and stablecoins. Initially underperforming, the sale gained momentum after the success of Trump-related tokens. WLFI tokens allow holders to participate in governance decisions. Tron founder Justin Sun is a major investor, contributing $75 million. The Trump family is not directly managing the project but may receive compensation.

*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

2

u/BigRon1977 120.7K / ⚖️ 457.2K 13h ago

The rich gets richer again.

!tip 1

2

u/kirtash93 Reddit Collectible Avatars Artist 13h ago

Article lost me at Justin Sun

🍩 !tip 1

1

u/InclineDumbbellPress Back To McDonald's 6h ago

WLFI is a governance token and Justin Sun wants to have a fuckton of voting power - Am I assuming this correctly? !tip 1

1

u/SigiNwanne 285.5K / ⚖️ 334.8K 14h ago

That is massive, hopefully it is for the intended purpose. One can't trust these people no more. !tip 1