The Donald Trump-inspired World Liberty Financial is exploring plans to create a publicly traded crypto vehicle to hold its WLFI tokens.
Notably, World Liberty Financial is already pitching the idea to top Wall Street investors and targets $1.5 billion in fundraising to create and launch the company, Bloomberg reported on August 8. The new prospect adds to the Trump family-backed venture’s many explorations of the digital asset landscape, this time joining the crypto treasury firm boom.
Details of Deal Still Unclear
Meanwhile, the report, which cited people familiar with the issue, noted that the groundwork of the deal is still being finalized. While they did not reveal further details, they disclosed that World Liberty Financial has involved big investors and major crypto industry leaders, and discussions are advancing rapidly.
Notably, the teased $1.5 billion public firm would hold the WLFI token. World Liberty created the token as a non-transferable governance asset, but the public listing would make the tokens tradable in the open market.
World Liberty Financial, which initially set out as a DeFi platform to disrupt the traditional financial giants, would further broaden its crypto venture with the public firm. Recall that in March, it launched its dollar-pegged stablecoin, USD1, on Ethereum and BNB Chain.
World Liberty Financial to Leverage the Crypto Treasury Buzz
With Strategy’s (formerly MicroStrategy) treasury success, several other corporate firms have mirrored its Bitcoin strategy. Firms like Metaplanet and Semler Scientific have all abandoned their primary business model to offer indirect exposure to the orange pill.
Bitcoin treasury firms have raised approximately $79 billion this year alone, outdoing the US Bitcoin ETFs in the first half of the year. Notably, these numbers suggest growing demand for Bitcoin exposure amid mainstream emergence.
Meanwhile, Ethereum treasury firms are also increasing rapidly, with the SharpLink and Bitmine leading the pack. As a result, World Liberty Financial aims to leverage this corporate treasury buzz to expand its crypto business.
Notably, the report, citing previous deals, suggested that the World Liberty treasury venture would take over a shell company already listed on major stock exchanges to enter the public market.
Recall that World Liberty Financial raised $550 million from the sale of its WLFI token, with a considerable percentage of it going to Trump’s purse. The firm has used some proceeds from the sales to buy cryptocurrencies like Ethereum, Ondo, and Aave in preparation for its DeFi business.
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