WLFI co-founder: No support received from venture capital firms

At Consensus Hong Kong 2025, Zak Folkman, co-founder of the DeFi project World Liberty Financial (WLFI), described the project's token sale as a marketing effort aimed at forging community ties, according to Odaily. Folkman emphasized that WLFI did not receive backing from venture capital (VC) firms. He acknowledged initial concerns from retail investors about the Trump-backed project’s valuation and fundraising goals, but highlighted that milestones were achieved earlier than expected. WLFI serves as both a governance and utility token. With trading options, including swaps, not yet available, Folkman cautioned against heeding unofficial sources. Meanwhile, it was reported earlier that roughly 24 billion WLFI tokens were sold at $0.05 each, totaling around $1.2 billion.