Trump token WLFI confirmed, sales limited to accredited investors and persons outside the US

Share this article

Donald Trump today confirmed the WLFI token of his family’s DeFi project, World Liberty Financial, during a live stream on X Spaces. The team behind the project has announced that its future token sales will be limited to accredited investors and people outside the US.

“While we do not consider WLFI to be a security, given the regulatory uncertainty surrounding US tokens, we have decided to limit sales to those eligible for exemptions under federal securities law,” the team said.

https://t.co/ws1YSdE7WD

— Farokh (@farokh) September 16, 2024

WLFI is designed exclusively as a governance token for the World Liberty Financial platform, providing holders with voting rights but no economic benefits such as dividends or profits. Tokens will also be non-transferable.

The token allocation is as follows: 63% for the public, 17% for user rewards, and 20% for the team and advisors.

Despite the substantial public allocation, restricting sales to accredited investors has drawn criticism for limiting participation, which goes against the crypto’s original promise of open access.

During the live broadcast, former US President Donald Trump chimed in with a strong message regarding the SEC and its approach to crypto.

“Since the hostile SEC heard I was involved, they treat people a lot better,” Trump said.

Trump suggested that his association with the token and crypto space has led to a more favorable position from the SEC towards crypto projects. However, he warned that this soft approach could be temporary, stating:

“If we don’t win the election, there will be a huge crackdown on crypto people. They will live in hell.”

Share this article