- World Liberty Financial has drastically lowered its WLFI token fundraising target from $300 million to $30 million
- The decision follows a lack of demand for the tokens, raising only a fraction of the original goal since launching in mid-October
- WLFI’s revised target aims to focus resources as it seeks to establish itself in a challenging crypto market
World Liberty Financial, the cryptocurrency venture supported by former President Donald Trump, has significantly reduced its fundraising ambitions due to low investor demand. Originally setting a target of $300 million, the company now aims for just $30 million, a 90% reduction. The announcement underscores the project’s slow start, raising only about $14 million since its October launch despite aggressive promotion.
WLFI Struggles to Meet Expectations
The WLFI token sale, launched with substantial publicity, initially drew attention as the latest high-profile project endorsed by Trump. However, technical issues plagued the rollout, including a website crash that disrupted early sales, leading to just 4% of the total supply being sold within the first 24 hours.
These hurdles, combined with a lack of substantial investor interest, have led the company to reset its financial expectations. According to an SEC filing, the company will end the token sale once it reaches the new $30 million goal or exhausts its available tokens.
Expert Reactions and Market Challenges
The lackluster performance has raised questions among many in the crypto space, with plenty of criticism, jokes and questions meted out in the process:
Not even 1 billion #WLFI sold out of the 20 billion available. What will you do next? Cancel the ICO and refund the investors, or will you continue with the project? @worldlibertyfi pic.twitter.com/jg8aqNAZyx
— ⚡malopium.sol 🇮🇹 (@malopium_sol) October 27, 2024
World Liberty Financial $wlfi slashes funding goal by 90% After Lackluster Sales: The revised plan to sell only $30 million of WLFI tokens, instead of the originally planned $300 million, suggests there will be no payday and the project will likely soon collapse, as was expected. pic.twitter.com/5En18sOESc
— Avendura (@Diablohole) October 31, 2024
Moving forward, World Liberty Financial aims to leverage partnerships, such as a proposed collaboration with Aave’s lending protocol, to bolster its platform’s credibility and utility. However, the project’s future hinges on its ability to attract sufficient investor confidence, particularly as it works to establish a governance framework for WLFI holders.
With only 20% of tokens available and no clear timeline for platform operations, the project’s success will depend on whether it can overcome early setbacks and meet revised, more modest expectations.
