World Liberty Financial, the DeFi protocol promoted by Donald Trump and his family, has drastically reduced its fundraising target after initial sales of its WLFI token fell short of expectations.
An Oct. 30 filing with the Securities and Exchange Commission (SEC) reduces the token sale’s funding target by 90% to $30 million from $300 million.
This cutback follows lackluster demand and technical issues during the token sale’s initial rollout in October. The WLFI offering initially aimed to attract $300 million at a fully diluted valuation (FDV) of $1.5 billion, selling tokens at $0.015 each.
To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
#undefined [Source: TheDefiant]