On Monday, former United States President Donald Trump launched his new crypto project, World Liberty Financial (WLFI), alongside his sons, Donald Jr. and Eric Trump. During the launch, the WLFI team revealed the plan to debut a new governance token, $WLFI. The crew stated that only investors who wish to participate in governance will purchase the new token, not those after the economic returns of holding it.
WLFI Team Confirms Plan for New Token
On Monday’s X Spaces, the WLFI project’s investors and advisors confirmed that $WLFI will be non-transferable and not provide economic rights. It will only be distributed to qualified buyers and cannot be transferred from one owner or account to another.
About 63% of $WLFI will be sold to the public. 17% will be reserved for user rewards, while the team holds 20% of the token. At the time of writing, the team had yet to inform the public of the token launch date.
Meanwhile, $WLFI will be sold only to accredited investors and monitored under Regulation D exemption from the U.S. Securities and Exchange Commission (SEC). Under the Regulation D exemption, companies can offer securities to qualified investors in small or private offerings without registering the securities to the SEC.
“Our goal is to build projects that are easy and simple to use and where you don’t need to phone a friend to get a walkthrough,” Zak Folkman, one of the project’s founders, said Monday.
Trump’s Crypto Onboarding
For the first 40 minutes of Monday’s X space, Trump shared his view on crypto and how it will benefit the public:
“Crypto’s one of those things we have to do, whether we like it or not,” he said.
Throughout his presidential campaign, Trump has expressed and demonstrated optimism for cryptocurrency adoption in America. In addition to launching his new crypto project, he has revealed plans to make America the world’s capital of Bitcoin and crypto.
Due to his crypto enthusiasm, investors predict that his success during the forthcoming election will benefit the crypto industry.
