Trump-Endorsed World Liberty Financial (WLFI) Raises $1 Billion, Targeting Global Expansion

The WLFI team's recent appearance in Abu Dhabi, where they held talks with Binance co-founder Changpeng Zhao, added another layer to the project's high-profile image.

Trump-endorsed World Liberty Financial (WLFI) has burst onto the DeFi scene with a headline-grabbing $1 billion raise, drawing attention not only for its funding scale but also for its political ties and ambitious global plans. Prominent supporters like Justin Sun ($75M) and DWF Labs ($25M) have added serious financial weight to the project.

Despite the excitement, the token remains non-tradable. This fact alone has stirred skepticism across the crypto community, where some question whether the token offers substance beyond the hype.

“Isn't it interesting how they're highlighting 'small-dollar' donations to Trump in the same article where they're reporting on a $1 billion token that isn't tradable and no one seems to care?” one user on X, formerly Twitter, remarked. Another user pointed out the lack of liquidity and immediate utility, asking if the capital surge is backed by real-world functionality or just media buzz.

"Is this new token funded by small-dollar political donations? A new report highlights how Donald Trump’s political fundraising prowess has spilled over into the world of crypto.

The article on Benzinga focuses on how Trump’s campaign finance reports show a large number of small-dollar contributions, contrasting with the "big-dollar" donations that often characterize political campaigns.

However, these small-dollar donations appear to be funding a new endeavor: a crypto token called World Liberty Financial (WLFI). Despite the token still being non-tradable, it has managed to secure $1 billion in pledges from institutional investors.

Among the token's prominent backers are Justin Sun, who invested $75 million, and DWF Labs, which contributed $25 million. The token is also said to be supported by a "legion of crypto influencers."

Despite the excitement surrounding the token, some members of the crypto community have expressed skepticism. One user pointed out that the token is still not tradable and asked how it will generate liquidity. Another user questioned what the token does and joked that it seems like a "political media machine cloaked in DeFi language."

"No liquidity, no tradability, and no immediate utility. But they did manage to get Trump's endorsement and the attention of several institutional investors. I wonder what will last longer?” the user quipped.

The article mentions that the WLFI team recently met with Binance co-founder Changpeng Zhao in Abu Dhabi to discuss global adoption and standard-setting within DeFi. The meeting was part of the team's broader efforts to expand in new markets and forge strategic partnerships.

On the same day, the team also signed a letter of intent with the Pakistan Crypto Council to cooperate on facilitating blockchain adoption and stablecoin integration in one of the world's fastest-growing crypto economies.

With over 25 million users and $300 billion in annual crypto transactions, Pakistan presents a strategic entry point for WLFI's expansion ambitions. However, some users expressed skepticism about the team's ability to execute its vision and deliver on its promises.

"They're talking about global adoption and standard-setting within DeFi, but they're still planning to launch the token in Q4 2023. I'll believe it when I see it," one user commented.

Another user pointed out that the article mentions Donald Trump's association with the token, noting that his endorsement has pushed the token into the spotlight.

"It's interesting how they're highlighting Trump's small-dollar donations in the same article where they're reporting on a $1 billion token that isn't tradable yet and no one seems to care more about it than they do about the campaign finance angle. But hey, maybe that's just me," the user said.

Overall, the article highlights the growing interest in crypto tokens from institutional investors and the role of celebrity endorsements in launching new projects. However, it remains to be seen whether these tokens will be able to deliver on their promises and sustain their momentum in the long term.