World Liberty Financial launched the WLFI token and offered it for sale, temporarily increasing Donald Trump's family paper wealth by roughly $5bn. Investors voted in July to make the tokens tradable, enabling sales and purchases and allowing early investors to sell up to 20% of their holdings. WLFI initially traded above $0.30 on its debut before falling to $0.20. Approximately $1bn of tokens traded within the first hour, yielding a market capitalisation just below $7bn and ranking WLFI around the 31st largest crypto token. Major exchanges including Binance, OKX and Bybit listed WLFI for trading.
The World Liberty tokens were sold to investors after the Trump family and its business partners last year launched the venture, a decentralized finance platform that has also issued a stablecoin, a cryptocurrency meant to maintain a specific price by tying its value to a specific asset. Investors in the tokens voted in July to make them tradable, paving the way for their sale and purchase and potentially boosting the value of the president's holdings of them.
Early investors can sell up to 20% of their holdings, World Liberty has said. The tokens initially traded above $0.30 in their Monday debut but later fell in price to $0.20. Per data from CoinMarketCap, roughly $1bn worth of the tokens changed hands within the first hour of the opening of trading. That gave the token a total market capitalisation of just below $7bn, making WLFI the 31st largest crypto token in circulation, according to data from trading analysis firm CoinGecko.
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