World Liberty Financial has lowered its token sale goal by 90%.
(Photo by Chip Somodevilla/Getty Images)
Share
Key Takeaways
World Liberty Financial has sold just 0.2% of its original token 20 billion token goal.
WLFI tokens are currently untransferable governance tokens.
Polymarket has Trump at 61.5% to win the 2024 U.S. Presidential election.
Donald Trump-linked decentralized finance (DeFi) project World Liberty Financial (WLF) has decided to move the goalposts of its ambitious WLFI token sale and has opted to lower the initial target by 90%.
The WLFI token sale kicked off on Oct. 16 with an ambitious goal of raising $300 million. That would require selling 20 billion tokens. To date, just 973.86 million have been sold.
However, according to an Oct. 30 filing with the U.S. Securities and Exchange Commission (SEC), WLF has other plans, as the filing reveals:
“The company currently only plans to sell tokens up to $30M before terminating sale.”
The Trump-endorsed project has not reflected this decision on the WLFI token sale website. Despite the hype around the project, the token launch seems like a complete dud. Regardless, the team recently posted another enthusiastic video from an unphased and grateful Trump.
Perhaps compounding skepticismabout the project is the fact that WLFI token holders are unable to cash out or move their tokens outside of the platform. For now, they own a governance token for a project that is currently just a web forum.
Amongst many of Trump’s forays into crypto, this would perhaps be one of the strangest if not disappointing.
However, with the Presidential election this week, the platform could undergo massive changes depending on the outcome.
Polymarket Backs Trump
Despite the odd limbo that WLF and the WLFI token find themselves in, Polymarket bettors are increasingly backing Trump with their crypto. He now holds a 61.5% chance of winning over Kamala Harris.
Source| Polymarket
Just days before the Nov. 5 election date, Trump’s endeavors to woo the crypto industry have produced mixed results. If crypto wasn’t a voting issue before Trump decided to U-turn on Bitcoin and become a major advocate for it, it certainly is a voting issue now.
Seemingly, WLFI’s success will not be the same as Trump’s, though the same can’t be said for the opposite.
Perhaps WLF and the WLFI token will evolve following the election, regardless of the outcome. However, until then, there’s little to be said about the project other than why.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
