Donald Trump supports decentralized finance protocols, and World Liberty Financial’s token sale will begin Tuesday morning, the former president said Saturday.
What Happened: “This is an opportunity to help shape the future of finance,” President Trump wrote on social media platform X (formerly Twitter) about the upcoming token sale. The President also urged interested candidates to attend the X Spaces event on Monday regarding the token sale.
.@WorldLibertyFi The token sale will begin on Tuesday morning, October 15th. This is your chance to help shape the future of finance. For more information, visit our dedicated space on Monday, October 14th at 8am EST. Join the whitelist now and be ready for Tuesday:
— Donald J. Trump (@realDonaldTrump) October 12, 2024
World Liberty Financial’s website currently has a timer until the sale begins.
🦅🇺🇸Big news! @WorldLibertyFi General sale begins October 15th and is open to all whitelisted people. For more information, join us in our Twitter space on October 14th at 8am ET. Stay tuned for more information!
— WLFI (@worldlibertyfi) October 11, 2024
Why it matters: The project aims to raise $300 million from its first sale, according to a report from The Block last week. Citing a roadmap shared with prospective investors, the report said 20% of the token supply will be sold at a fully diluted valuation of $1.5 billion.
The token, called WLFI, will serve as the platform’s governance token, allowing users to vote on future developments. However, tokens are non-transferable and non-revenueable, unlike most crypto assets that can be traded and generate passive income.
Price Action: The broader crypto market reacted positively to the news. Over the past 24 hours, Bitcoin BTC/USD is up 0.34%, Ethereum ETH/USD is up 0.86%, and Dogecoin DOGE/USD is up 1.15%, according to data from Benzinga Pro.
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