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 AvailabilityGaps 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.
placeholder
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP Look for a Foothold After a Sharp ShakeoutBitcoin trades near $92,600 after a dip below $90,000, while Ethereum around $3,118 and XRP near $2.21–$2.23 sit on key support zones, as BTC, ETH and XRP all try to turn a sharp correction into a tradable rebound rather than a deeper slide.
Author  Mitrade
Nov 19, Wed
Bitcoin trades near $92,600 after a dip below $90,000, while Ethereum around $3,118 and XRP near $2.21–$2.23 sit on key support zones, as BTC, ETH and XRP all try to turn a sharp correction into a tradable rebound rather than a deeper slide.
placeholder
Market Meltdown: BTC, ETH, and XRP Capitulate as Bears Seize ControlBitcoin trades around $85,900 after breaking below $86,000, with Ethereum under $2,791 and XRP below $1.99 as BTC, ETH and XRP extend weekly losses of 8–10%, forcing traders to focus on supports at $85,000, $2,749 and $1.77 for clues on whether this sell-off has further to run.
Author  Mitrade
Nov 21, Fri
Bitcoin trades around $85,900 after breaking below $86,000, with Ethereum under $2,791 and XRP below $1.99 as BTC, ETH and XRP extend weekly losses of 8–10%, forcing traders to focus on supports at $85,000, $2,749 and $1.77 for clues on whether this sell-off has further to run.
placeholder
Bitcoin Volatility Spikes: Is Options-Driven Pricing Making a Comeback?Bitcoin's volatility is surging, suggesting a shift back to options-driven price action seen before Bitcoin ETFs were launched.
Author  Mitrade
Nov 24, Mon
Bitcoin's volatility is surging, suggesting a shift back to options-driven price action seen before Bitcoin ETFs were launched.
placeholder
Gold Price Forecast: XAU/USD rises to near $4,150 as Fed rate cut bets growGold price (XAU/USD) attracts some buyers to around $4,140 during the early Asian session on Tuesday. The precious metal rises on growing expectations of a US Federal Reserve (Fed) interest rate cut in the December policy meeting.
Author  FXStreet
Yesterday 01: 29
Gold price (XAU/USD) attracts some buyers to around $4,140 during the early Asian session on Tuesday. The precious metal rises on growing expectations of a US Federal Reserve (Fed) interest rate cut in the December policy meeting.
placeholder
Bitcoin Price Rebound Gains Traction with $90K Break in SightBitcoin is trading above $87,000 and its 100-hour SMA after rebounding from $83,500, with a bearish trend line at $88,200 and resistance at $89,000–$90,000 now in focus as BTC either breaks higher toward $91,750–$94,000 or slips back toward $86,700, $85,000 and lower supports.
Author  Mitrade
3 hours ago
Bitcoin is trading above $87,000 and its 100-hour SMA after rebounding from $83,500, with a bearish trend line at $88,200 and resistance at $89,000–$90,000 now in focus as BTC either breaks higher toward $91,750–$94,000 or slips back toward $86,700, $85,000 and lower supports.
goTop
quote