Trump-Backed WLFI Proposes Token Swap Deal to Blockchain Projects
World Liberty Financial (WLFI), a crypto platform backed by Trump, is offering blockchain projects participation in a “token swap” arrangement. Key details include:
- Projects must purchase at least $10 million worth of WLFI tokens, with a 10% fee.
- WLFI will buy an equivalent amount of the project's native token.
- A minimum investment of $15 million secures priority treatment.
- WLFI tokens have a projected fully diluted valuation of $1.5 billion and are set to launch in Q3 2024.
- No vesting period for tokens involved in the swap.
Participating projects may gain increased liquidity from WLFI's commitment to purchasing their native tokens. Initial meetings will precede agreements with co-founder Zak Folkman.
Trump Family's Financial Stake
Over 24 billion WLFI tokens, priced at $0.05 each, have generated about $1.2 billion in sales. Eric Trump is on WLFI's board, while a family-linked LLC holds:
- 60% of project equity
- 75% of revenue from WLFI token sales
- 22.5 billion WLFI tokens, valued at approximately $1.1 billion
Treasury Management Announcements
WLFI recently reported routine adjustments to its crypto holdings for treasury management. The company clarified that it is reallocating assets rather than selling tokens, ensuring operational needs are met without speculation.