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 decentralized finance (DeFi) platform alongside a stablecoin called USD1, these tokens previously granted voting rights on platform developments. The shift to tradable assets marks a significant change, potentially boosting the market value and attracting a wider investor base. This transition is expected to generate trading fees for exchanges listing WLFI and fuel speculation about its future price. While the direct benefit to the Trump family remains unclear, their substantial holdings could see increased value due to heightened trading activity. The Trump family, through DT Marks DEFI LLC, holds a significant stake in WLFI, estimated to be around 15.75 billion tokens out of a total 100 billion, generating reportedly $500 million since the platform's launch. The move has drawn criticism, with lawmakers like Senator Elizabeth Warren and Representative Maxine Waters raising concerns about potential conflicts of interest, particularly given the lack of SEC classification of WLFI tokens as securities. They argue this lack of classification allows for less regulatory oversight. The White House maintains that Trump's assets are managed through a trust, dismissing conflict of interest claims, although details of this trust remain undisclosed. World Liberty Financial has promised to provide further details on the trading process. The high approval rate of the proposal reflects diverse investor motivations, ranging from anticipated price appreciation to support for Trump himself.
(Source: https://www.newsbtc.com/news/world-liberty-financial-token-proposal-garners-massive-99-support/)
