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Trump’s Token Sale Falters Amid Website Crash

World Liberty Financial's token drop got off to a slow start Tuesday.
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Oct 15, 2024 • 1 min read

World Liberty Financial, a crypto project backed by Donald Trump and his family, faced an early setback with its WLFI token sale upon the project’s website crashing. 

What's the scoop?

  • World Liberty Financial's token sale began today, October 15, but was marred by a website crash. 
  • Despite receiving significant traffic, only 1.7% of the token supply—344 million tokens—was sold in the first few hours.
  • The sale aimed to raise $300 million through distributing 20 billion WLFI tokens, with Donald Trump acting as the project’s “chief crypto advocate.”
  • WLFI is designed to serve as a governance token, allowing users to facilitate DeFi activities such as borrowing, lending, and creating liquidity pools. However, the token is non-transferable for now.

Bankless take:

Despite the excitement surrounding Trump’s involvement, World Liberty Financial’s launch has stumbled so far due to technical difficulties and underwhelming sales. Whether the project can overcome skepticism and regain momentum remains to be seen, but the rocky start is a reminder that high-profile backers aren’t a guarantee for success in DeFi.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

Published in Bankless

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