World Liberty Financial Seeks 99% Approval to Trade WLFI Token

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 exchanges. As of Wednesday, the proposal has received overwhelming support, with over 99% of the roughly five billion votes cast in favor. The voting period is set to conclude on July 16. If approved, the plan would significantly enhance the liquidity and accessibility of the WLFI token, although it is noted that tokens held by founders, including those of the Trump family, would not be immediately available for trading.

The move marks a significant milestone for the World Liberty Financial ecosystem, potentially opening the door for broader community participation and protocol development. The crypto business was launched in 2024 by Trump, his sons Barron, Donald Trump Jr., and Eric, along with co-founders Chase Herro and Zak Folkman. The company has been at the center of controversies surrounding the 's policies related to digital assets.

According to reports, the added at least $620 million to his personal portfolio in a matter of months due to his investments in the crypto industry, including through World Liberty. In June, Trump disclosed $57.4 million in income from the crypto business, personally holding 15.75 billion governance tokens. However, the Trump family has reportedly been reducing its stake in World Liberty since December 2024, holding 40% of the company as of June.

The Trump family's involvement in the cryptocurrency space has drawn scrutiny, particularly as the U.S. Congress considers legislation to regulate the industry. The Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, aims to regulate payment stablecoins in the U.S. This bill has faced pushback from several lawmakers due to Trump’s connections to World Liberty and the company’s USD1 stablecoin. Eric Trump announced in May that an Abu Dhabi-based company would use the stablecoin to settle a $2 billion investment in Binance. The chamber later passed the bill after a second vote in June.

The proposal to make the WLFI token tradable comes at a time when the regulatory landscape for cryptocurrencies is evolving. Lawmakers are grappling with how to balance innovation with consumer protection, and the Trump family's involvement adds another layer of complexity to the debate. The outcome of the vote on the proposal could have significant implications for the future of the Trump family's cryptocurrency ventures and the broader regulatory framework for the industry.