Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Donald Trump’s WLFI Token Launches to $5 Million Sales and Technical Difficulties

Source Beincrypto

World Liberty Financial (WLFI), a new token project endorsed by Donald Trump, was launched to whitelisted investors. WLFI sold $5 million in the first hour, but technical difficulties have disrupted its operations.

These problems highlight crypto community skepticism surrounding the project.

A Mixed Start for WLFI

World Liberty Financial (WLFI), a new DeFi protocol endorsed by Donald Trump, launched on the morning of October 15. World Liberty announced this token launch several days prior but added that the first round would only be accessible to whitelisted users. This token launch had a goal of raising $300 million.

Read more: Tokenomics Explained: The Economics of Cryptocurrency Tokens

World Liberty began the token launch with an X Spaces broadcast, albeit Donald Trump was not present. After WLFI went live, users reported $5 million in sales in the first hour. However, their website went down during this time, and transaction data shows technical difficulties in continuous sales.

Gaps in WLFI Availability. Source: Etherscan

Trump’s absence and some of these difficulties have contributed to a sense of unease around the project. Many community leaders have remained skeptical about unclear technical goals and the token launch’s timing near the election.

“The vast majority of people who will buy into Trump’s DeFi project would be better served simply buying Bitcoin and holding,” Manuel Ferrari, Co-Founder of Money On Chain, told BeInCrypto in an exclusive interview.

For example, World Liberty claimed that only accredited investors would be in the first round of sales. The Securities and Exchange Commission (SEC) defines these as investors with over $1 million net worth and $200 thousand annual income. And yet, World Liberty has had difficulties in smoothly processing sales to a group this exclusive.

Read more: Top 11 DeFi Protocols To Keep an Eye on in 2024

As of this writing, World Liberty’s website is still down, but on-chain data seems to show staggered new transactions. It is unclear if these issues will persist throughout the day and interrupt the strong demand for WLFI.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Hurricane Isaias has shut in a quarter of Gulf oil output — can WTI clear $92 before Thursday's EIA report?WTI trades at $90.80 after rebounding roughly 3% from Wednesday's $87.96 low as Hurricane Isaias — the Atlantic season's first — forces producers to shut in about 25% of US Gulf of Mexico output. Brent holds at $103.41. The first official read on the disruption arrives with the EIA weekly petroleum report on Thursday 15 October — here are the key levels and both scenarios.

Author Irene Q.

Oct 09, Fri

WTI trades at $90.80 after rebounding roughly 3% from Wednesday's $87.96 low as Hurricane Isaias — the Atlantic season's first — forces producers to shut in about 25% of US Gulf of Mexico output. Brent holds at $103.41. The first official read on the disruption arrives with the EIA weekly petroleum report on Thursday 15 October — here are the key levels and both scenarios.

US September CPI preview: inflation set to hit 3.7% — will the Fed hike in December?US September CPI lands Wednesday with headline inflation seen at 3.7% y/y and core at 0.2% m/m. December hike odds sit near 70% — here are the scenarios, the calendar and the key levels.

Author Irene Q.

Oct 10, Sat

US September CPI lands Wednesday with headline inflation seen at 3.7% y/y and core at 0.2% m/m. December hike odds sit near 70% — here are the scenarios, the calendar and the key levels.

Gold posts first weekly gain in three weeks — can $4,200 hold through CPI?Spot gold closed at $4,194.645, up 1.47% — its first weekly gain in three weeks — and COMEX futures settled back above $4,200 at $4,220.30. Here are the drivers, the levels and the scenarios into Wednesday's CPI.

Author Irene Q.

Oct 10, Sat

Spot gold closed at $4,194.645, up 1.47% — its first weekly gain in three weeks — and COMEX futures settled back above $4,200 at $4,220.30. Here are the drivers, the levels and the scenarios into Wednesday's CPI.

WTI declines to near $90.00 despite escalating Middle East conflict, supply risks West Texas Intermediate (WTI) declines after two days of gains, trading around $90.00 per barrel during Asian hours on Monday.

Author FXStreet

8 hours ago

West Texas Intermediate (WTI) declines after two days of gains, trading around $90.00 per barrel during Asian hours on Monday.

Brent swings $105.63 to $102.33 as Gulf risk meets an 'energy ceasefire' — can $100 hold into CPI?Brent spiked to $105.63 in Asian trade on fresh Middle East supply incidents, then reversed to $102.33 after the US announced a Russia-Ukraine 'energy ceasefire' and 300,000+ tonnes of Russian diesel headed to global markets; WTI fell through $90. Here are the drivers, the levels and the scenarios into Wednesday's US CPI.

Author Irene Q.

4 hours ago

Brent spiked to $105.63 in Asian trade on fresh Middle East supply incidents, then reversed to $102.33 after the US announced a Russia-Ukraine 'energy ceasefire' and 300,000+ tonnes of Russian diesel headed to global markets; WTI fell through $90. Here are the drivers, the levels and the scenarios into Wednesday's US CPI.

Popular Symbols