World Liberty Financial (WLFI), a crypto project backed by Donald Trump, has responded strongly to what it sees as politically motivated media coverage of the cryptocurrency sector.
In a statement, the project claimed that reports from major news outlets like the Wall Street Journal and Bloomberg were part of a broader agenda to harm the crypto industry. WLFI insisted that it is committed to building a decentralized financial system for millions of people.
In an X post, WLFI emphasized its mission to democratize finance and create a new financial system. The project asserted that the reporting from various outlets was not based on facts but seemed to be driven by political agendas aimed at undermining the crypto industry.
“We are proud to partner with leading protocols and organizations advancing the blockchain space,” the statement said.
The project further encouraged people to disregard sensational headlines and focus on official updates from WLFI for accurate information. By providing a direct line to the public, WLFI aims to build trust and clarify its position within the crypto community, amid what it describes as misleading press narratives.
Recent reports in the Wall Street Journal revealed that a representative of the Trump family had discussed purchasing a stake in Binance’s U.S. arm. The transaction could have been facilitated through World Liberty Financial, a project supported by Trump family affiliates.
According to the Journal, the talks began last year when Binance sought to reenter the U.S. market. A key figure in the negotiations was Steve Witkoff, a close ally of Trump, who had been involved in launching World Liberty Financial two months before Trump’s presidency in 2016.
However, both Binance and WLFI have denied any formal agreements or dealings regarding the stake purchase. Binance CEO Changpeng Zhao (CZ) denied any involvement in the deal, stating, “I have had no discussions of a Binance US deal with … well, anyone.” Furthermore, CZ also addressed reports suggesting that he had requested a pardon from President Trump, calling them misleading. He added that no deal had been made and emphasized that no felon would object to a pardon under the circumstances mentioned in the reports.
World Liberty Financial recently concluded a successful token sale, raising nearly $590 million across two pre-sales. The sale was notable for its participation by accredited investors only. The WLFI token, however, cannot be transferred or sold publicly on exchanges, and no date has been set for listing it on platforms.
The success of the sale is largely attributed to the involvement of Justin Sun, founder of the Tron network, who invested $30 million into the project.
According to WLFI co-founder Zak Folkman, Sun’s investment helped to boost confidence in the project, which had faced initial criticism due to the high-profile individuals involved. Folkman highlighted Sun’s belief in the project’s potential to move the crypto space forward, despite the surrounding controversy.
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