Trump Dates Crypto Token Sale Before US Election $1.8B World Liberty Financial Sale Raises Controversial Questions
Donald Trump's crypto venture, World Liberty Financial (WLF), will begin selling its WLFI tokens on Tuesday, just three weeks before the US presidential election.
Announced by a Posted in XWLF leverages decentralized finance (DeFi) by offering the WLFI token as a governance tool.
It allows users to vote on development initiatives of the protocol.
This is the first time a US presidential candidate has launched a crypto token sale, raising questions about potential conflicts of interest and the impact on campaign finances.
Skeptical replies to Trump's X post point to his history of unsuccessful business ventures.
The timing of the token sale, so close to the election, has sparked debate over whether the venture is intended to boost Trump's campaign or serve as a fundraising tool.
Built on the Aave DeFi protocol, WLF pledges 7% of its WLFI tokens and 20% of future fees to Aave's DAO.
The sale, valued at $1.8 billion, is expected to raise up to $537 million if all tokens are sold, with 30% available to the public and the remaining 70% reserved for project insiders.
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