Trump-linked crypto venture aims to revive ICOs with Sun's backing

World Liberty Financial (CRYPTO:WLF), a cryptocurrency project associated with Donald Trump, is seeking to revive initial coin offerings (ICOs) with improved regulations.

Zak Folkman, co-founder of WLF, shared this vision at the Consensus Hong Kong conference on February 19, in a discussion with Tron (CRYPTO:TRX) founder Justin Sun.

Folkman expressed his desire to "make ICOs great again," emphasising that early ICOs allowed broad participation, contrasting with recent trends dominated by venture capital.

He criticised the "predatory" nature of many VCs.

"They want to engineer everything so that they win. And even if it’s at the expense of somebody else," he stated.

Folkman believes that ICOs failed due to insufficient regulation, which is also a problem for memecoins.

"I think it’s pretty stupid to risk your entire life savings on a memecoin, right?" he cautioned against investing one's entire life savings in memecoins.

He advocated for clear, uniformly applied rules in the crypto industry.

"I definitely believe memes are the future of crypto," stated Justin Sun, expressing optimism about memecoins, but cautioned against "rug pulls" and emphasised the need for launching them the "right way."

World Liberty Financial, which aims to bridge traditional finance with decentralised finance, faced initial challenges, including failing to meet its $30 million fundraising goal.

However, the project's trajectory shifted after Justin Sun invested $30 million in WLFI tokens.

Folkman hailed Sun's support as a "monumental move forward for the entire crypto community."

Following Sun's investment, World Liberty also acquired $10 million worth of TRX tokens, the native token of Sun's TRON blockchain.

According to Folkman, WLFI's success was achieved without venture capital backing and without preferential treatment for token purchasers.