Trump Backed Crypto WLFI Sees 99% Support For Public Trading

World Liberty Financial, a crypto company backed by former US President Donald Trump and his sons, has initiated a voting process to make its governance token, WLFI, tradable on public markets. The voting process, which began on July 4, has seen overwhelming support from users, with over 99% approval from more than 5 billion tokens cast within just 24 hours of the voting's initiation. The proposal, if approved, would unlock significant gains for early supporters and shift WLFI from a closed system to an open one, allowing for broader access and trading of the token.

The voting process is set to conclude on July 16, and if approved, it would mark a significant milestone for the Trump-backed crypto venture. Currently, only early World Liberty supporters or pre-approved users could access or trade the token. However, the proposed change would open up the token to a wider audience, potentially increasing its liquidity and value.

The move to make WLFI tradable comes at a time when the crypto market is facing increased scrutiny and regulation. The US Senate has been split over crypto rules, with tensions flaring over the appropriate regulatory framework for digital assets. Despite this, the Trump-backed crypto venture appears to be forging ahead with its plans, seeking to capitalize on the growing interest in decentralized finance (DeFi) and the potential for substantial gains for early investors.

The overwhelming support for the proposal suggests that users are optimistic about the potential of WLFI and the broader DeFi ecosystem. However, it remains to be seen whether the token will be able to maintain its value and attract new investors in the face of increased regulatory scrutiny and market volatility. The outcome of the vote will be closely watched by industry observers and could have implications for the future of the Trump-backed crypto venture and the broader DeFi landscape.

WLFI token holders have commenced voting on making it tradable on the World Liberty Financial platform, backed by the Trump family, opened July 16. The decision may significantly alter crypto market trading scenes. World Liberty Financial launched in 2024 with trumpeted support from Donald Trump and family members, Donald Jr., Eric, and Barron. The WLFI token debuted initially for voting before any future tradability.

WLFI's journey included raising $550 million from 25 billion tokens, affirming strong investor confidence. Supported cryptocurrencies like Ethereum might see an uptick in liquidity once WLFI trading begins. Market shifts around WLFI trading could influence DeFi protocols due to an expected rise in ERC-20 token activities. This could increase Ethereum-linked asset volume and trading.

Historic token unlocks in crypto have often led to higher trading volumes and volatility, primarily with previously locked founder tokens. Insights point to similar trends for WLFI’s market effects. With strong demand from community members and partners, many community members have said that the timing is right to make WLFI tradable. Regulatory eyes watch closely due to high-profile Trump family involvement, especially against the backdrop of U.S. legislative discussions about cryptocurrencies. This focus may influence policy or market adaptations.

WLFI's ongoing community engagement suggests a predominately positive sentiment regarding this pivotal voting event. However, outcomes remain dependent on investor and insider trading decisions. The vote on the WLFI token's tradability draws major community attention. The decision may significantly alter crypto market trading scenes. World Liberty Financial launched in 2024 with trumpeted support from Donald Trump and family members, Donald Jr., Eric, and Barron. The WLFI token debuted initially for voting before any future tradability.