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

Gold holds steady below $4,150 amid elevated US yields Gold price (XAU/USD) trades on a flat note near $4,140 during the early Asian session on Tuesday. Pressure from a stronger US Dollar (USD) and elevated US Treasury yields was offset by reduced expectations of a Federal Reserve (Fed) rate hike this month.

Author FXStreet

Oct 06, Tue

Gold price (XAU/USD) trades on a flat note near $4,140 during the early Asian session on Tuesday. Pressure from a stronger US Dollar (USD) and elevated US Treasury yields was offset by reduced expectations of a Federal Reserve (Fed) rate hike this month.

WTI rises to near $89.50 as Middle East supply threats offset Persian Gulf recovery West Texas Intermediate (WTI) oil price extends its gains for the second successive day, trading around $89.50 per barrel during the Asian hours on Wednesday. Crude oil climbed as persistent risks to Middle East energy flows overshadowed signs of rising supply from the region.

Author FXStreet

Oct 07, Wed

West Texas Intermediate (WTI) oil price extends its gains for the second successive day, trading around $89.50 per barrel during the Asian hours on Wednesday. Crude oil climbed as persistent risks to Middle East energy flows overshadowed signs of rising supply from the region.

WTI slips below $90.50 as Trump signals no pre-election strike on Iran West Texas Intermediate (WTI) oil price declines after posting nearly 2.5% gains in the previous day, trading around $90.30 per barrel during Asian hours on Friday.

Author FXStreet

Yesterday 01: 23

West Texas Intermediate (WTI) oil price declines after posting nearly 2.5% gains in the previous day, trading around $90.30 per barrel during Asian hours on Friday.

【Daily Brief】Gold rebounds 1% off a two-month low, Nasdaq drops 1.25% and yields ease — the storm premium keeps WTI near $91 Gold trades at $4,174 after rebounding from Wednesday's $4,090 two-month low, the Nasdaq fell 1.25% while the Dow edged higher, and the 10-year Treasury eased to 5.23% from the week's highs. Hurricane Isaias keeps about 25% of Gulf output shut in with WTI near $91, and bitcoin holds below $82,000. The next scheduled tests are the EIA report on 15 October and the FOMC on 27-28 October.

Author Irene Q.

19 hours ago

Gold trades at $4,174 after rebounding from Wednesday's $4,090 two-month low, the Nasdaq fell 1.25% while the Dow edged higher, and the 10-year Treasury eased to 5.23% from the week's highs. Hurricane Isaias keeps about 25% of Gulf output shut in with WTI near $91, and bitcoin holds below $82,000. The next scheduled tests are the EIA report on 15 October and the FOMC on 27-28 October.

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.

19 hours ago

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.

Popular Symbols