World Liberty Financial (WLFI), a forthcoming cryptocurrency platform endorsed by President Donald Trump and his sons, has reported a significant uptick in the sale of its governance tokens.
After a slow initial rollout approximately four months ago, Bloomberg reports that the platform has sold over 24 billion of its WLFI tokens, representing more than 96% of its total supply. As it stands, fewer than 1 billion tokens remain available for sale.
World Liberty Financial Token Sale Sparks Debate
The World Liberty Financial token, priced at 5 cents each, is part of a broader initiative aimed at raising $300 million at a $1.5 billion valuation.
Related Reading
The project launched its token sale in mid-October, with the intention of enabling token holders to propose changes to the platform and vote on others’ proposals.
However, the limited rights associated with the WLFI tokens have raised concerns. Holders possess minimal voting rights and no economic entitlements, and the tokens cannot be traded or sold back to World Liberty, prompting questions about their long-term value and utility.
Adding to the intrigue surrounding World Liberty Financial, crypto entrepreneur Justin Sun, founder of the TRON blockchain, recently disclosed a substantial investment of $45 million into the venture.
This increased Justin Sun’s total stake in World Liberty Financial to $75 million, indicating strong confidence in the platform’s potential.
TRUMP And MELANIA Tokens Experience Wild Price Fluctuations
Analysts are speculating that forthcoming executive orders from Trump could positively influence the cryptocurrency landscape in the US, yet skepticism remains among industry veterans.
Nic Carter, a venture capitalist, expressed concerns regarding the ethical implications of a sitting president engaging in business ventures that may present conflicts of interest.
The launch of Trump’s memecoins has also stirred significant controversy. As previously reported by NewsBTC, the Donald Trump memecoin (TRUMP) saw a sharp decline, dropping from a weekend high of $75 to $17.
Related Reading
Similarly, the Melania Trump memecoin (MELANIA) disrupted the market with increased excitement among crypto investors, with its value fluctuating dramatically from a high of $13.64 to its current trading price of $1.26.
Bernstein analysts have characterized this period as a “chaotic crypto era,” suggesting that government involvement with cryptocurrencies could redefine the relationship between leadership and emerging technologies.
They argue that the launches of Trump and Melania’s memecoins could signal a potential regulatory shift, positioning digital assets as a direct link to a wider audience.
While trading at $17, TRUMP is posting significant losses of 6%, 2% and 70% in the 24 hour, fourteen day and monthly time frames respectively, coupled with a 27% drop in trading volume, according to CoinGecko data.
Featured image from DALL-E, chart from TradingView.com
