Key takeout
- Backed by the Trump family, World Liberty Financial aims to raise $1.5 billion and establish a public company that holds WLFI tokens.
- The WLFI tokens that were initially untransferable are planned to be made public.
Bloomberg reported Friday that the Trump family-backed Defi project is exploring plans to set up a public company that holds WLFIs, and is exploring its indigenous Crypto assets. The company is said to be targeting salary increases of around $1.5 billion to fund vehicle launches.
The company is approaching major investors in the technology and crypto sector, and talks are reportedly progressing quickly, but the structure of the transaction is under development.
The new Crypto Treasury strategy comes after World Liberty completed its $550 million WLFI token sale in March. The token was originally designed as an intransitable governance token, but is becoming publicly tradeable following the governance vote last month.
The Trump-approved company is working on Defi products, including the launch of its flagship Stablecoin USD1.
We plan to deploy a crypto lending app that utilizes Stablecoin USD1. The platform is intended to support activities such as lending, borrowing, and digital asset trading.