World Liberty Financial, the cryptocurrency project backed by former president and Republican candidate Donald Trump, started at half speed this Tuesday, with low sales and technical glitches on its website.
Trump and his eldest son, Donald Trump Jr., presented the project a month ago without many details or a launch date after previously announcing that they were working on a cryptocurrency platform to “defend themselves” from “big banks and financial elites.”
This morning, amid some speculation, the World Liberty Financial website, which describes itself as “the only decentralized finance platform inspired by Donald J. Trump,” began selling the token, called WLFI and valued at 15 cents. dollar
Read: Trump offers few details in the presentation of his cryptocurrency business
According to that website, at 5:30 p.m. local time, 576 million WLFI tokens had been sold, less than 3% of its goal of 20 billion, perhaps due to frequent problems that led to a message of “We are under maintenance.” ”.
A co-founder of the project, Zak Folkman, said yesterday in
However, the Etherscan page, which analyzes market data, indicated that this afternoon only about 5,200 people had bought the cryptocurrency, and 85% of what was sold was concentrated in three investors.
The specialized media The Block indicated that 63% of the WLFI tokens offered are for the general public, 17% for “rewards” for its users and 20% for the team that supports it, which includes Trump and his three sons, as well as the developer executives.
On the website, Trump is listed as “Crypto Advocate in Chief” and his sons Eric, Donald Jr. and Barron as “Web3 ambassadors”, although the fine print specifies that neither the former president nor any family member has management responsibility at World Liberty Financial.
The co-founders are real estate magnate Steven Witkoff, a Republican donor, and his sons Zach and Alex Witkoff, as well as partners Zak Folkman and Chase Herro, the latter two described by American media as ‘crypto punks’ and marketers of the internet age.
Read: ‘If I am president, Mexico will not sell a single car in the US’: Trump
It was also indicated that Trump has received or may receive 22.5 billion tokens and “significant commissions for his services,” and it is clarified that the platform and the cryptocurrency “are not political or part of any political campaign.”
Trump’s commitment to cryptocurrencies represents a big change from his criticism when he was president and coincides with the support received by his electoral campaign from defenders of the crypto universe, such as Elon Musk or the Winklevoss brothers, founders of the Gemini platform.
With information from EFE
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