Donald Trump’s World Liberty Financial (WLFI) token sale launched with strong initial demand, raising $5 million in its first hour. However, technical issues soon slowed progress, and the sale has only reached $9.15 million so far, far short of its $300 million target.
Despite Trump’s claim that “crypto is the future,” the WLFI token sale has faced challenges, including a website crash due to 72 million visits within the first hour. The sale aims to raise funds by offering 20% of the token supply, with WLFI serving as a governance token for the decentralized finance platform. However, only 1.7% of the available tokens have been sold, with restrictions limiting potential buyers to non-U.S. persons and accredited U.S. investors.
The mixed reactions to the sale, including criticism from some in the crypto community, have raised doubts about its long-term prospects, though Trump’s involvement has contributed to a 15% rise in Bitcoin’s price in October.
