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Supported by former President Donald Trump and his sons, the team behind the World Liberty Financial crypto project has confirmed the launching of a governance token dubbed WLFI. On an X Spaces live stream, team members indicated WLFI will not be transferable and will not offer commercial rights. The goal is to lure token buyers keen in participating in governance, not people seeking financial gains.
Out of the total supply, 63% of the tokens will be sold to the public, 17% will be set aside for user incentives, and 20% will cover team costs. Restricted to allowed investors under a Regulation D exemption from the U.S. Securities and Exchange Commission (SEC), the token sale will mostly take place through private offers to permitted investors; this exemption lets companies raise money without registering securities.
During the live stream, a Polymarket contract speculating on whether Trump will launch a coin before the election soared to almost 80% for the Yes side. By the end of the session, it dropped to 22%.
On the event, several Trump family members engaged in the discussion to express their ideas regarding cryptocurrencies. Emphasizing the opportunities of distributed finance (DeFi), Donald Trump Jr. claimed it meets the vision of the founders of America and brings justice to the financial system. On the other hand, Eric Trump emphasized the importance of DeFi platforms becoming more user-friendly depending on his problems using Ethereum on a distributed lending platform.
Although he watched the live broadcast for the first forty minutes, former President Donald Trump refrained from discussing the project directly. Saying, “Crypto’s one of those things we have to do, whether we like it or not,” he instead shared his insights on the bigger crypto environment. Though there were plenty of rumors, he never spoke specific words like “Solana” or “Doge” all through the event. Still, he mentioned “NFT” once and “crypto” five times.
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