Trump-Backed WLFI Token Approved for Trading with 99.9% Vote

The World Liberty Financial (WLFI) token, backed by the Trump family, has been approved for trading following a near-unanimous governance vote. With 99.9% approval, the token will transition to an open-participation model, allowing users to buy and sell the Ethereum-based WLFI. This decision comes after the token was initially sold last fall, with backers drawn to the venture due to its association with the Trump family and hopes for price appreciation.

The approval for trading means that market forces will now determine the price of WLFI, potentially boosting liquidity and attracting wider investor interest. The Trump family earns 75% of the initial sale revenues, and as of last year, Trump held approximately 16 billion tokens via DT Marks DEFI LLC. Critics, including prominent political figures, have raised concerns about potential conflicts of interest given Trump’s influence over crypto regulation. The White House has stated that Trump’s assets are held in a trust managed by his children, though the specific terms of this arrangement remain undisclosed.

Paolo, a holder of WLFI tokens, expressed his support for the decision, stating that he voted in favor of making the tokens tradable and planned to hold them until they reach $12. He also mentioned his intention to buy more tokens when the price drops. This sentiment reflects the optimism among some investors regarding the potential future value of WLFI.

The transition to an open-participation model is expected to bring greater transparency and accessibility to the WLFI token, allowing for more dynamic market interactions. However, the regulatory landscape and potential conflicts of interest remain areas of concern for critics and observers. As the token becomes tradable, it will be crucial for the project to address these issues to maintain investor confidence and ensure the long-term success of the venture.

World Liberty Financial is a decentralized finance—or DeFi—project that was first teased by President Trump's son, Eric, last year. It is led by DeFi builders Chase Herro and Zak Folkman, along with the Trump family and Witkoff family. It's billed as a platform for crypto lending and borrowing services, though it has yet to launch. Details on the project's rollout are so far vague, but those behind it have sung the praises of the DeFi space. DeFi is a subsphere of the crypto industry that wants to replace traditional financial services like banks by using blockchain to power autonomous apps without middlemen. It is an extremely risky and novel world prone to hacks and major investor losses.

Lawmakers—particularly Democrats—have raised concerns about President Trump's conflicts of interest with the project, especially as the Trump family has made millions from token sales. President Trump recently disclosed a $57.3 million windfall from the project's token sale. The native token of World Liberty Financial will soon be available for trading to "begin the next phase of community ownership and engagement," according to its website. WLFI is World Liberty's native governance token. In the crypto space, holders of a governance token can vote to make changes to how the project is run—but these tokens also have a value and can be traded and sold via exchanges.

"This would mark a major milestone in the development of the World Liberty Financial ecosystem and opens the door for broader community participation, access, and protocol development," the token's website read. No details were revealed on where users would be able to buy the token but the website noted: "With strong demand from community members and partners, many community members have said that the timing is right to make WLFI tradable and initiate this next chapter in our collective journey." The Ethereum-based project's tokens were initially only available to accredited investors. A portion of these tokens will now be unlocked for sale, the website added, with others set to be subject to longer unlock schedules.