DWF Labs Invests $25M in Trump-Backed DeFi Project WLFI
1min read DWF Labs, a prominent crypto market maker, has announced a significant investment of $25 million in world liberty financial (WLFI), a decentralized finance (DeFi) project backed by former US President Donald Trump and his sons. This investment marks DWF Labs' entry into the US market, with the establishment of an office in New York City. The firm acquired wlfi tokens through a private transaction, indicating its intention to participate in the project's governance as a tokenholder.
WLFI was launched on September 16, 2024, with the aim of promoting DeFi and US dollar-pegged stablecoins. During the launch, Trump expressed his enthusiasm for embracing the future with crypto, distancing himself from traditional banking systems.
In addition to the investment, DWF Labs will provide liquidity for WLFI's stablecoin, World Liberty Financial USD (USD1), which was launched on March 24 on BNB Chain and Ethereum. Although the stablecoin is not yet tradable, this collaboration underscores DWF Labs' commitment to supporting WLFI's ecosystem.
DWF Labs, known for providing liquidity to over 60 exchanges globally, plays a crucial role in facilitating smooth trading operations by making or taking orders from traders. The company's expansion into the US is expected to enhance its institutional partnerships with banks, asset managers, and fintech companies, as well as strengthen its engagement with US regulators.
Since its launch, WLFI has successfully raised over $600 million for its DeFi protocol. The company's first token sale generated $300 million by selling 20 billion WLFI tokens. Subsequently, another 5 billion tokens were sold at $0.05 each, raising an additional $250 million on March 14. This brings the total earnings from WLFI's public token sales to $550 million.
Notable investors in WLFI include Tron Founder Justin Sun, who purchased 2 billion WLFI tokens for $30 million on November 25. Additionally, investment platform Web3Port announced a $10 million investment in WLFI, and venture capital firm Oddiyana Ventures made a strategic investment, although the amount was not disclosed.
