DWF Labs Invests $25 Million in Trump-Backed Crypto Project

Market maker and investment firm DWF Labs has acquired $25 million in WLFI tokens through a strategic private transaction with World Liberty Financial, a crypto project backed by former U.S. President Donald Trump and his family. This investment underscores DWF Labs' commitment to expanding its presence in the New York City market and its interest in providing liquidity for World Liberty Financial's new stablecoin, USD1.

World Liberty Financial is an Ethereum-based decentralized finance (DeFi) platform designed to offer crypto borrowing and lending services. DeFi encompasses a broad range of financial applications that utilize cryptocurrencies and operate without centralized intermediaries. The platform's native token, WLFI, is central to its governance and operational framework.

DWF Labs, based in Dubai, highlighted that the purchase of WLFI tokens is part of its strategy to engage in governance and focus on projects that address real-world financial needs. The growing demand for institutional-ready stablecoins like USD1 is a key driver for this investment. Zak Folkman, co-founder of World Liberty Financial, emphasized the transformative potential of crypto in global finance, stating that stablecoins like USD1 will remain fundamental to the DeFi technology stack.

President Trump has been a vocal supporter of the crypto industry, campaigning to aid its development and involvement in various digital asset ventures. Prior to his inauguration, he launched his own Solana meme coin, Official Trump. During his term, he signed an executive order establishing a strategic Bitcoin reserve and became the first president to sign a crypto-related bill into law.

Trump's family has also been involved in his digital asset initiatives, with Eric Trump announcing the launch of World Liberty Financial. However, critics, including Senator Elizabeth Warren and Representative Maxine Waters, have accused the president of using his position to personally benefit from his crypto ventures.

DWF Labs made headlines last year when it fired one of its partners following allegations of misconduct involving a woman who accused the partner of attempting to drug her by spiking her drink.