Former President Donald Trumpâs much-anticipated crypto venture, World Liberty Financial (WLFI), hit a serious roadblock on its launch day, with multiple website outages disrupting the sale of tokens. For a project aimed at raising $300 million and reaching a valuation of $1.5 billion, this stumble could hurt its credibility right when Trump needs momentum.
What Went Wrong?
Despite the hype, only 4,300 unique wallet addresses held WLFI tokens by the afternoon, a mere 4% of total registrants. By 1:48 p.m. ET, over 500 million WLFI tokens had been sold at 1.5 cents eachâless than 3% of the 20 billion available.
The technical glitches have cast doubt on the project, potentially derailing Trumpâs attempt to court the crypto community just three weeks before the election. The project, heavily promoted by Trump and his sons, was seen as a strategic move to bolster his pro-crypto image and appeal to voters who favor digital asset adoption.
The Numbers So Far
⢠4,300 wallets hold WLFI tokens (4% of registrants)
⢠500 million tokens sold at 1.5 cents each
⢠Targeting $300 million in the initial token sale
Why It Matters
With the election around the corner, any misstep could have political consequences. Trumpâs camp has been promoting World Liberty Financial as a symbol of his support for cryptocurrency adoption, a hot topic among a growing segment of voters. However, the early technical issues could undermine that narrative, raising questions about the projectâs viability and Trumpâs broader crypto strategy.
The Road Ahead
World Liberty Financial has time to recover, but these glitches could cost valuable trust among potential investors and voters. If the project can iron out its issues and regain momentum, it could still position Trump as a pro-crypto leader. But for now, the projectâs rocky start could be a significant setback.
Stay tuned as this high-profile crypto endeavor unfolds.
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