Trump's World Liberty Financial Tokens Begin Trading
Some of the digital tokens backing the Trump family's cryptocurrency venture, World Liberty Financial, began trading on Monday, the cryptocurrency company announced. The $WLFI tokens were sold to investors after the Trump family and its business partners launched the venture last year, which is a decentralized finance (DeFi) platform that has also issued a stablecoin.
In July, investors in the tokens voted to make them tradable, paving the way for their sale and purchase—potentially boosting the value of the president's holdings. Early investors can sell up to 20% of their holdings, according to World Liberty.
Several of the world's biggest cryptocurrency exchanges, including Binance, OKX, and Bybit, are offering the tokens on their platforms starting Monday. The token was last trading at $0.3115, as per CoinGecko data.
Since its launch last year, the Trump family has made approximately $500 million from the project, based on Reuters calculations using the company's terms, transactions traced by crypto analysis firms, and public deals.
The tokens were not initially tradable but gave holders voting rights on business changes, such as code updates. Early investors cited the connection to Trump and expectations of value growth due to his backing as key draws.
Making the tokens tradable allows investors to set prices, enabling speculation, earning fees for exchanges, and likely attracting broader crypto interest.
World Liberty and Trump's other crypto ventures have faced criticism from Democratic lawmakers and ethics experts, who argue that these moves, amid regulatory changes by the president, represent significant conflicts of interest. The White House maintains that Trump's assets are in a trust managed by his children, with no conflicts.
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