World Liberty Financial (WLFI), a cryptocurrency project linked to the Trump family, announced that it has sold tokens from its treasury to mining company Hut8 for $0.25.
The project developers argued that the tokens sold were locked assets from the WLFI treasury and did not represent new issuance or dilution.
The WLFI team stated, “WLFI recently conducted a token sale for Hut8’s treasury at $0.25. This transaction was solely for the purpose of completing a specific sale; it does not constitute new issuance or an increase in supply. We appreciate Hut8’s long-term support.”
Meanwhile, WLFI co-founder Donald Trump Jr. dismissed criticism that the crypto venture linked to his family could create a conflict of interest. Speaking to CNBC at the Token2049 conference in Singapore, Trump Jr. said, “The claims that World Liberty Financial investors are seeking favors from the Trump administration are complete nonsense. I don't believe anyone would care to look at my father's or Zach's father's blockchain ledgers and see who bought what.”
*This is not investment advice.