Trump Family’s WLFI Token Now Tradable After 99% Vote
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World Liberty Financial (WLFI) tokens, associated with Donald Trump's family, are now tradable following an overwhelming 99.94% vote by holders. Initially launched last autumn as part of a DeFi platform alongside a stablecoin called USD1, these tokens previously granted voting rights on platform developments. The shift to tradability is expected to significantly impact the token's market value and the Trump family's financial interests, potentially attracting a wider investor base and generating trading fees. The Trump family, particularly DT Marks DEFI LLC, holds a substantial number of WLFI tokens, with estimates suggesting they've already generated around $500 million. The move has sparked ethical concerns, however, with critics like Senators Elizabeth Warren and Maxine Waters raising conflict-of-interest flags to the SEC. They highlight the lack of SEC classification of WLFI as securities, resulting in less stringent regulatory oversight. The White House maintains that Trump's assets are managed by a trust overseen by his children, thus denying any conflict of interest, though details of this trust remain undisclosed. While the White House declined to comment on the potential financial impact of WLFI's tradability, World Liberty Financial promises to provide further details on the trading process soon. The high percentage of votes in favor suggests significant holder anticipation of price increases or alignment with Trump's initiatives. Overall, the decision marks a significant development for both the cryptocurrency market and the Trump family's financial portfolio.
(Source: https://www.newsbtc.com/news/world-liberty-financial-token-proposal-garners-massive-99-support/)
