Trump-backed crypto token sale stalls at $10M after site issues
World Liberty Financial (WLFI), a Trump-backed cryptocurrency platform, struggled to reach its funding goal during its token sale, raising just over $10.3 million, a mere 3.4% of its $300 million target.
The sale, which went live on October 15, faced setbacks as the platform's website crashed soon after launch, disrupting access for several hours.
The platform had aimed to sell 20 billion tokens at a price of 1.5 cents each, but despite earlier claims of over 100,000 sign-ups, only 687 million tokens were sold within the first 14 hours.
Data from Etherscan revealed that 6,832 unique wallet addresses hold WLFI, falling short of the project’s expectations.
According to the project’s "gold paper," released on October 15, WLFI’s total supply is set at 100 billion tokens, with 35% allocated for public sales.
Donald Trump has taken an active role, named as the "Chief Crypto Advocate," while his sons Eric, Barron, and Donald Trump Jr. serve as "Web3 Ambassadors" for the project.
Trump promoted the token sale on social media, stating, “Crypto is the future, let’s embrace this incredible technology and lead the world in the digital economy.”
The tokens, which are currently not tradable, are designed to serve as governance tokens for a decentralised finance (DeFi) platform based on Ethereum.
World Liberty Financial plans to operate as an instance of the DeFi protocol Aave, with proposals submitted to integrate with Aave’s governance system.
Zak Folkman, head of operations, shared during an X Spaces event on October 14 that the platform would offer borrowing and lending services, liquidity pools, and transactions with stablecoins.
Despite the ambitious plans, only accredited investors in the United States, approved by the Securities and Exchange Commission, can participate in the token sale.
These investors are typically individuals earning over $200,000 annually with assets exceeding $1 million.
The WLFI token distribution plan allocates 32.5% for community growth and incentives, 30% for initial supporters, and 2.5% for the project’s team and advisers.
Whether the project can rebound from its slow start remains to be seen, as it faces the challenge of building momentum amid mixed investor reception and technical issues.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
New spot margin trading pair — HOLO/USDT!
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn
- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

OPEN has dropped by 189.51% within 24 hours during a significant market pullback
- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

New spot margin trading pair — LINEA/USDT!
Trending news
MoreCrypto prices
More








