NEW YORK: World Liberty Financial, a crypto venture backed by US President Donald Trump’s family, is sounding out investors for a US$1.5 billion fundraising meant to set up a public company that will hold its $WLFI tokens, Bloomberg News reported yesterday.
The structure of the deal is yet to be finalised, the report said, citing people familiar with the matter, adding that large investors in the crypto and tech space had been approached for the venture.
Reuters could not immediately verify the report.
World Liberty did not immediately respond to a Reuters request for comment.
World Liberty, a “decentralised platform” which counts Donald Trump and his sons as co-founders according to its website, has earned the family US$500 million since its launch, according to Reuters’ calculations.
World Liberty tokens, known as $WLFI, are not classified as securities by the Securities and Exchange Commission and are hence not subject to the same level of scrutiny as investments like stocks.