The Trump family’s foray into the world of digital assets is gaining momentum. World Liberty Financial, a cryptocurrency project associated with the Trump family, is planning a major token sale ahead of the 2024 presidential election. This sale could potentially generate hundreds of millions of dollars for the project.
According to DL News, the project aims to sell 30% of its WFLI tokens, valuing the sale at a whopping $1.8 billion. If successful, this could generate $537 million for the Trump family’s venture. However, the project’s white paper clarifies that while the platform is not owned or managed by Trump himself, he and his family might still receive compensation. This revelation has sparked debate, particularly regarding the allocation of 70% of tokens to insiders.
Adding to the controversy, onchain analysts have noted the project’s ties to Dough Finance, a previous DeFi protocol that suffered a $2.1 million hack in July. This connection raises questions about the project’s security and reliability.
The timing of this token sale is particularly noteworthy, given Donald Trump’s ongoing presidential campaign. If he returns to the White House, the cryptocurrency project could pose significant issues, raising concerns about potential conflicts of interest. Trump has previously promised to transform the U.S. into the “crypto capital of the world.” However, despite this grand announcement, many have questioned the feasibility and follow-through of such promises.
The upcoming token sale by World Liberty Financial adds another layer of complexity to Trump’s ambitious crypto-related plans. With the 2024 election looming, the project’s success or failure could have significant implications for both the Trump family and the future of cryptocurrency regulation in the United States.
