press release<\/a>, the Trump-backed DeFi venture World Liberty Financial is driving a $1.5 billion capital raise at ALT5 Sigma by contributing 7.5% of the total $WLFI token supply in a private placement. The announcement comes on the heels of earlier reports that World Liberty Financial was planning a $1.5 billion fundraising round to establish a public company holding its native tokens.<\/p>\nThis investment will give ALT5 Sigma ownership of that portion of $WLFI tokens once the deal closes, boosting its broader stake in the asset. But beyond this initial investment, the company is targeting a larger role for the native token.<\/p>\n
WLFI scores place on corporate balance sheet<\/h2>\n
According to the company, the proceeds from the offering will go towards establishing a dedicated crypto treasury that holds WLFI tokens. The move will make ALT5 Sigma the first company to do so, establishing WLFI as a reserve asset.<\/p>\n
The treasury strategy announcement follows the company co-founder Zak Folkman\u2019s remarks in June that more public companies are expressing interest in holding WLFI as a treasury asset.\u00a0\u00a0\u00a0<\/p>\n
\u201cThere has been a lot of interest from several public vehicles who want to use WLFI to be held in their treasuries,\u201d he said at the time.\u00a0<\/p>\n
ALT5 Sigma\u2019s bid will now add WLFI to the growing list of crypto treasury assets, led by Bitcoin (BTC) and Ethereum (ETH). Other assets like BNB (BNB), SUI (SUI), have also been trapped across various institutions, as more crypto assets land on corporate portfolios.<\/p>\n
<\/p>\n
Alongside the financial backing, WLFI\u2019s executives will take key roles at ALT5. Zach Witkoff, WLFI\u2019s CEO and co-founder, will become Chairman of ALT5\u2019s board, while Eric Trump will join as a director. Co-founder Zack Folkman will also join ALT5 as a board observer, while Matt Morgan will step in as Chief Investment Officer.<\/p>\n
WLFI tokens are currently not tradable by investors. However, following a near-unanimous vote by the token holders last month, tokens sold to early backers are scheduled to unlock for trading soon, with the release timeline for the remaining tokens from the total 100 billion supply to be determined by a second community vote.<\/p>\n
Meanwhile, WLFI has been separately building its own treasury, acquiring millions worth of assets like Ethereum (ETH) and Bitcoin (BTC) over the past few months.<\/p>\n
<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
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