Donald Trump’s World Liberty to Cap U.S. Token Sales at $30 Million

World Liberty Financial, a decentralized finance (DeFi) project endorsed by former president Donald Trump and his sons, has capped its U.S. token sales at $30 million. The company plans to sell nearly 90% of its tokens, valued at approximately $288.5 million, to international investors, Bloomberg reported on Saturday.

Although based in Delaware, World Liberty operates from Puerto Rico and has filed a regulatory notice in the U.S., stating that it currently intends to limit its domestic sales. So far, fewer than 350 U.S. investors have purchased tokens.

The U.S. Securities and Exchange Commission (SEC) regulates token sales under securities laws, making it challenging for companies to raise funds through token offerings. World Liberty is leveraging a specific exemption, Regulation D, to sell tokens domestically. This exemption allows companies to raise unlimited funds from accredited U.S. investors, including institutions and high-net-worth individuals meeting specific financial criteria.

Under Regulation D, companies must meet certain requirements, including filing a public notice that outlines offering details, such as the total amount raised, the number of investors, and key officers and sponsors. To date, World Liberty has raised $2.7 million from 348 U.S. investors under this regulation.

The filing includes references to Donald Trump and his sons, Don Jr. and Eric, though it notes that their names are included for informational purposes only and are not meant to suggest active promotion of the offering. The Trump family has, however, publicly supported World Liberty’s DeFi initiatives, highlighting its mission to democratize financial services.

World Liberty’s offshore token sales may proceed under another exemption, Regulation S, which applies to foreign investors and involves fewer requirements than Regulation D. This approach follows Trump’s recent release of a fourth collection of NFTs featuring images of the former president.