Trump Crypto Project Lowers WMFI Token Sale Goal From $300 Million To $30 Million
Key receivers
World Freedom Financial lowered its WWFI token sale target from $300 million to $30 million due to weak demand. Donald Trump-affiliated DT Marks DEFI LLC will receive the proceeds after World Freedom Financial reaches its $30 million goal.
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Donald Trump's crypto project World Freedom Finance has lowered its fundraising goal from $300 million to just $30 million, according to an SEC filing on October 30.
According to an SEC filing, World Liberty Financial said “the company currently plans to sell up to $30 million worth of tokens before terminating the sale.”
Following high demand for the WMFI token, World Liberty Financial will suspend the token sale after reaching its revised target of $30 million, a significant reduction from the original goal.
Since its launch in mid-October, the project's wallet has collected more than $14 million in crypto investments, but the initial momentum has slowed down quickly.
Although the token sale started with high expectations, the demand fell due to a website crash on the day of the launch.
The WLFI token, which was designed as a governance token, is currently of little value to investors, as the protocol intended for governance has not yet been implemented.
Without a clear mechanism for the token to store value, the financial fundamentals of the world's freedom are posing a threat to investors.
Trump's company DT Mark DEFI LLC is set to receive 22.5 billion WMFI tokens worth more than $330 million in a public offering.
Meanwhile, the company has sold nearly 1 billion of its 20 billion WLFI tokens at a price of $1.5 billion, but these tokens remain locked up, preventing any secondary market transactions.
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