World Liberty Financial, the Trump family-backed firm, is sounding out large investors on a plan to form a public company that would hold its WLFI tokens, people familiar with the matter said, Bloomberg reported.
The talks are private and still being shaped, but the group is seeking about $1.5 billion in fundraising. Those approached include big names in the tech and crypto worlds.
The aim is to turn WLFI into a tradable asset inside a listed vehicle that would act like a digital-asset treasury. Discussions are moving fast, the sources added, and the deal could use structures seen in past crypto deals, such as taking over a listed shell company.
Deal talks and the proposed structure
People close to the process said the legal and financial terms are not final. The plan under discussion would put WLFI tokens into a public entity. That company would raise fresh capital and hold digital assets on its balance sheet.
That model has become popular this year among groups that want to pool money to buy crypto. It can let retail and institutional investors gain exposure through a single stock or vehicle.
Company background
World Liberty lists President Donald Trump as “co-founder emeritus” on its site. The firm last year outlined a crypto-lending app and now offers a stablecoin called USD1. It has raised funds by selling WLFI tokens.
WLFI began as a governance token that could not be traded. The plan is to make it transferable on open markets. The move would mark a shift in how the project is structured and how investors can trade the token.
Also Read: Trump Family Backed World Liberty Financial Denies Ethereum Sale Amid Market Rumors
Market context and risks
A wave of digital-asset treasury firms has been raising capital this year to buy cryptocurrencies. Market reports say such groups plan to raise about $79 billion in 2025 for purchases of Bitcoin alone.
That momentum has been backed by a softer U.S. regulatory stance on some crypto matters. At the same time, investors and market watchers warn that the model carries extra risk for less liquid tokens.
Unlike Bitcoin, smaller tokens can be hard to sell quickly, and their prices can swing a lot. Past deals in the sector often used reverse takeovers of listed shells to speed up a public listing.
Vitalik Buterin, a co-founder of Ethereum, stated that while he is in favour of publicly traded firms that own Ether, he cautioned that if the trend gets too leveraged, it might be dangerous.
In mid-2025, Tron took an unconventional route into the U.S. public markets, not via a traditional IPO, but via a reverse merger with a small Nasdaq-listed toy company. They have built up a strategy for companies’ reverse takeovers
Ownership shifts and finances
Recent disclosures show the Trump family’s parent firm for the project, DT Marks DEFI LLC, cut its stake from 60% to about 40% over 11 days. The change signals a pullback in direct ownership.
At the same time, President Trump filed a financial disclosure that shows he earned $57,355,532 last year from a family-linked cryptocurrency project.
World Liberty was co-founded in 2024 by Zach Witkoff, who is the son of Steve Witkoff, and by Donald Trump’s sons Donald Jr., Eric, and Barron.
Why investors are being pitched?
Big investors were approached because they can provide large checks and give the venture credibility. For the promoters, a listed firm provides an easier way to raise capital and to hold tokens openly.
For investors, it can offer a single point of exposure to a token and to the project’s broader plans. But the trade-off is that token holders and the public company would face market and regulatory scrutiny.
Some investors prefer crypto funds that hold Bitcoin or other liquid assets. Others are curious about newer token plays if the company shows clear rules and custody arrangements.
What comes next?
The people involved say negotiations are ongoing and could accelerate. The parties must still agree on governance, valuation, and how WLFI would become tradable.
They also need to choose the listing route and set terms for new investors. Any final deal would likely face close review from advisers and potential regulators.
Also Read: World Liberty Finance Invests $3M in EOS, Acquiring 3.63 Million Tokens, $EOS Up 11%