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Secret token sales spark controversy and face investor backlash amid governance and liquidity concerns.
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World Liberty Financial, the DeFi venture co-founded by the Trump family and members of the Witkoff family, sold an additional 5.9 billion WLFI tokens to private accredited investors after closing two public fundraising rounds that brought in over $550 million.
The activity was uncovered through governance filings examined by Tokenomist.ai on behalf of Bloomberg, and later confirmed by the company. The follow-on sales, worth hundreds of millions of dollars, were not clearly disclosed to existing investors.
