Trump-backed World Liberty proposes $1.5b crypto holder, reports say

WASHINGTON: World Liberty Financial, a crypto venture backed by US President Donald Trump’s family, is sounding out investors for a $1.5 billion fundraising meant to set up a public company that will hold its WLFI tokens, Bloomberg News reported on Friday.

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The structure of the deal is yet to be finalised, the report said, citing people familiar with the matter, adding that large investors in the crypto and tech space had been approached for the venture.

Reuters could not immediately verify the report. World Liberty declined to comment.

🚨 BREAKING: Bloomberg Confirms $WLFI! 🚨

Bloomberg reports: World Liberty Financial, the Trump family–backed venture, is sounding out major investors to set up a public company holding WLFI tokens — joining the multi-billion-dollar boom in digital-asset treasury firms. 💥

🌐… pic.twitter.com/X3F9rlULu2

— $WLFI Holders (@HoldersWLFI) August 9, 2025

World Liberty, a “decentralised platform” which counts Donald Trump and his sons as co-founders according to its website, has earned the family $500 million since its launch, according to Reuters’ calculations.

World Liberty tokens, known as $WLFI, are not classified as securities by the Securities and Exchange Commission and are hence not subject to the same level of scrutiny as investments like stocks.

Has China really banned crypto? 

Earlier this month, social media had been buzzing with reports that China has once again banned cryptocurrency. Bold headlines like “China Drops the Hammer: Full Crypto Ban Enforced – Trading & Mining Outlawed” began circulating, fuelling panic and speculation across the digital asset space.

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In fact, there’s no real evidence that anything new has happened.

No official confirmation

Despite the dramatic claims, experts and insiders have pushed back. Su Zhu, co-founder of the collapsed hedge fund Three Arrows Capital, dismissed the rumour, saying there’s “zero evidence” from his sources in China that any new ban has been imposed. Colin Wu, a well-known Chinese crypto journalist, also confirmed that there have been no fresh restrictions.

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According to Wu, while China has placed a series of tough restrictions on crypto over the years, it has never banned individual transactions entirely. Even mining, which was hit hard in 2021, continues quietly in some regions. In fact, China still contributes around 21 percent of the world’s total Bitcoin hashrate.