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- Welcome Kevin_Lee to the Gate Square! 🎉
Looking forward to more great crypto insights from him.
Check out and engage with Kevin_Lee’s latest post!
👉 Post: https://www.gate.com/post/status/11758920
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The Trump family's "World Liberty Financial" plans to lift the trading ban on WLFI Token.
The cryptocurrency project "World Liberty Financial," supported by U.S. President Donald Trump, announced on the 26th that it will soon begin trading of its own cryptocurrency "WLFI." The project posted on X that "there have been many requests to make WLFI transferable. The team is working towards realization, and big news will be announced soon." Meanwhile, concerns about the early sale of tokens by the team have also emerged.
The WLFI Token grants holders voting rights and governance proposal rights within the DeFi and stablecoin-focused project. Currently, there are transfer restrictions in place, but approximately 30 billion tokens out of a total supply of 100 billion tokens have been raised through public sales, totaling over $590 million.
At the New York conference on Wednesday, Zach Forkman, co-founder of World Liberty, stated that there is "great interest" from publicly traded companies wanting to integrate WLFI Token into their corporate finances. He also announced the launch of World Liberty's new mobile app at the conference, revealing that a preliminary report for the USD1 stablecoin will be published in the coming days.
USD1 was released in March and is said to be fully backed by short-term U.S. Treasury securities, U.S. dollar deposits, and cash equivalents. In line with the progress of U.S. stablecoin regulations supported by President Trump, a strategy was implemented where USD1 tokens were distributed to WLFI holders earlier this month as part of an on-chain airdrop feature test.
On the other hand, according to a report by Forbes, the Trump family-related company DT Marks DeFi LLC has reduced its stake in World Liberty Financial from 60% to about 40% over the past 11 days. The company held 75% as of December 2024, but a gradual reduction of its stake is underway. President Trump’s cryptocurrency assets are estimated to be worth $110 million, and it is said that he has earned over $600 million through World Liberty Financial and the meme coin "TRUMP."