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Another cryptocurrency linked to Donald Trump debuted on stock exchanges


The World Liberty Financial (WLFI) token has launched a public listing on cryptocurrency exchanges, including giants like Binance, Coinbase, and Bybit. This is another controversial project linked to the Trump family.

World Liberty Financial (WLFI) debuts on major cryptocurrency exchanges

Initially, the 100 billion WLFI was a governance token that gave holders the right to vote on matters concerning the DeFI platform created by World Liberty Finance (the project was invested in by Justin Sun, the owner of the TRON platform, among others). It then became traded on exchanges as a result of investor voting decisions.

The debut on October 1st started around $0.28. The token spent the next seven hours in a downward trend, reaching a price of $0.22 (currently, the cryptocurrency is trading at around $0.23). Shortly after the launch, Donald Trump’s son, Donald Trump Jr., argued that this wasn’t a meme coin, but “the foundation for managing a real ecosystem that changes the way money flows.”

WLFI is another cryptocurrency project associated with Donald Trump’s family, following NFT collectible cards and the TrumpCoin token. The latter also previously released the $MELANIA cryptocurrency, and as part of the World Liberty Financial company, a stablecoin pegged to the US dollar – USD1 – was also introduced to the market.

Each of these moves was fraught with conflict of interest controversy, with critics accusing Trump of using his presidential position unethically, luring crowds of retail investors to his projects. As early as April, Senators Elizabeth Warren and Maxine Waters suggested that his administration’s cryptocurrency regulations might be biased toward projects linked to his family. In May, the US Senate launched investigations into possible legal violations by World Liberty Financial.

Author : Maciej Halikowski

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