Donald Trump's foray into decentralized finance with the WLFI token has faced a rough start, with its value plunging by 20% in just 24 hours. Despite a presale raising $12 million, this fell far short of the $300 million target. Investors are concerned due to the token's non-transferable status and indefinite lock, which goes against typical DeFi principles. Prominent critics, including Mark Cuban and Max Keiser, have questioned the legitimacy of the project, with some calling it a potential "pump-and-dump" scheme that could undermine the crypto industry's credibility.
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