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Donald Trump’s new cryptocurrency initiative, World Liberty Financial (WLF), has faced significant challenges since its launch. According to A a report Per CNBC, the project aims to create a cryptocurrency bank and was expected to attract significant interest from investors. However, the token sale, which began on Tuesday, was marred by website outages and technical issues, which severely limited participation.
Trump’s cryptocurrency project faces setbacks
Zachary Volkman, co-founder of WLF, had previously noted that more than 100,000 individuals were whitelisted for the investment opportunity. Despite this promising beginning, the reality was completely different.
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As of Tuesday afternoon, blockchain data from Etherscan revealed that only about 4,300 unique wallet addresses contain… WLF codewhich amounts to approximately 4% of registered investors.
The platform reported selling more than 532 million tokens at 15 cents each, representing less than 3% of the total 20 billion tokens available for public sale.
Throughout the day, users experienced constant disruptions, with the website often displaying a message stating “We are under maintenance.” WLF has not yet made an official comment regarding these technical difficulties.
These setbacks come at a critical time for Trump, the Republican presidential candidate who has been aggressively promoting the project since August under the title “The DeFiant Ones,” in reference to… Decentralized finance (Davy).
The project’s roadmap indicates an ambitious goal of raising up to $300 million at a $1.5 billion valuation during the initial sale.
Investors will receive voting rights on the WLF platform
Volkman, who has a diverse entrepreneurial background, including a previously owned company, Date Hotter Girls, said 20% of WLF tokens are allocated to Founding teamWhich includes members of the Trump family.
WLF’s token, WLFI, is designed as a Regulation D offering, allowing it to raise capital without registering as securities with the Securities and Exchange Commission, provided it meets certain conditions, such as limiting… Sale volume Participation is limited to accredited investors. So far, details about the project’s functionality are still scarce.
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Individuals associated with the Trump family project suggested that the platform would facilitate borrowing, lending and investing Cryptocurrencies. However, no formal white paper or comprehensive business plan has been announced, and the initial revelation was that investors would receive voting rights on the upcoming WLF platform.
In a move towards legality, WLF has also begun the process of obtaining approval from Aave, a DeFi ecosystem and lending platform known for its open source framework and reputation in the cryptocurrency community.
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