The Trump family’s crypto business World Liberty Financial is using a publicly-listed company, ALT5 Sigma Corporation, to raise $1.5 billion for the purchase of its WLFI token. In a press release on Monday, ALT5 Sigma announced that it would sell a combination of 200 million new and existing shares and use the proceeds to buy the Trump family token.
The move represents an effort by the Trump family to capitalize on a recent trend of using either small publicly traded or blank-check companies to let a broader swathe of traders gain exposure to cryptocurrencies.
The strategy was first popularized by Michael Saylor, who renamed his decades-old software company MicroStrategy to Strategy as he transformed it into a Bitcoin behemoth. He and company executives began adding billions of dolla