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Donald Trump's crypto project, World Liberty Financial, has drawn in $220 million in sales of its WLFI token within its first hour.
Since its launch, 717.94 million tokens have been sold at $0.015, with 19.28 billion tokens remaining on the market, marking around a 3.7% sale.
"DT Marks DEFI, LLC and its affiliates including Donald J. Trump and his family members has or may receive tokens from World Liberty Financial, and will be entitled to receive significant fees for services provided to World Liberty Financial, which amount cannot yet be determined," reads World Liberty Financial's website, which reportedly crashed multiple times upon the token's launch.
Marking the launch of the token, Trump took to X to declare, "Big news, the World Liberty Financial token sale is now live. Crypto is the future, let's embrace this incredible technology and lead the world in the digital economy."
Today’s the day! @WorldLibertyFi token sale is live. Get your $WLFI tokens now. Purchase $WLFI here: https://t.co/jg1tOaHHBy pic.twitter.com/j8ewxa13wp
— Donald J. Trump (@realDonaldTrump) October 15, 2024
The initial WLFI sale is looking to raise $300 million and sell 20% of its token supply at a fully diluted valuation of $1.5 billion. 63% of WLFI tokens were on sale on Tuesday. The remaining 17% will go towards user rewards and 20% to team compensation.
A live stream on Monday commemorated the launch of the token with Zak Folkman, one of the project's cofounders, stating, "This was all inspired by the ideals and the vision of Donald J. Trump."
— WLFI (@worldlibertyfi) October 14, 2024
Folkman claimed that 100,000 people signed up for the whitelist since it went live on 30 September. WLFI will be used as a governance token for users to vote on decisions regarding the future of the project.
Blockhead
World Liberty Financial released its “gold paper” about WLFI on Tuesday, which lists Trump as the “chief crypto associate." Eric Trump and Donald Trump Jr are listed as Web3 Ambassadors.
The project describes itself as "a movement to help secure the future of the US Dollar in a digital world, without succumbing to the centralized control of CBDCs."
Trump now has a 16% lead in the US presidential election polls on Polymarket against Kamala Harris with 58.1% odds compared to the Democrat nominee's 41.4%.
On Monday, Harris caught the attention of the crypto industry after her campaign pledged to support regulation.
During a speech on Monday, Harris declared, "We will build a future where we have what I call an opportunity economy, where everyone can compete and have a real chance to not just to get by, but to get ahead."
Although she did not mention digital assets in the speech, a campaign release ahead of the speech revealed that the Harris-Walz team is pledging to "support a regulatory framework for cryptocurrency and other digital assets so Black men who invest in and own these assets are protected."
Blockhead
Over 20% of Black Americans own or have owned cryptocurrency assets according to the campaign, which added that Harris's plans "make sure owners of and investors in digital assets benefit from a regulatory framework so that Black men and others who participate in this market are protected."
The campaign claimed that "Donald Trump spent four years making Black men’s lives harder" and that Harris is striving to rectify it.
