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Cryptocurrency News Articles
World Liberty Financial Announces Public Sale of $WLFI Tokens This Week
Oct 14, 2024 at 07:03 pm
World Liberty Financial, which was jointly launched by two of Donald Trump's son's announced that the public sale of $WLFI tokens will begin this week
Donald Trump's son's crypto venture, World Liberty Financial (WLFI), is set to begin public token sales on Tuesday, Oct. 15. The announcement sparked excitement among many crypto users on X, but others expressed frustration over the supposed "weeding out" of middle-class users.
"It's not public when it's just for the 1% accredited investors," one user said, and another said, "once again middle class is weeded out!"
It's not public when it's just for the 1% accredited investors. This is an embarrassing launch for a token that is supposed to unite the people.
I wish I could qualify on the whitelist!…. Once again middle class is weeded out!
Another user said the token sale is only for "all the rich people and people that aren't U.S. citizens." When WLFI announced early this month that it has opened its whitelists, Republican presidential candidate Trump posted about the whitelists on X.
At the time, the crypto venture explained that the reason why not all Americans will be able to join the lists is "due to the outdated policies and regulations in the U.S." Among the requirements to become an accredited investor and be eligible for the WLFI whitelist is to have a net worth of over $1 million.
One user argued that the crypto community should have been provided with more details about the project first "to win our trust before jumping into a public sale." For instance, the user said there should have been a white paper and tokenomics document release first before the WLFI token sale.
I thought we would have gotten more info and work on those project,t okenomics, white paper, actual use cases and mode to win our trust before jumping into a public sale. Come on it looks 🐟
This isn't the first time doubts were raised about the legitimacy of the Trumps' DeFi project. A CoinDesk report previously revealed excerpts of a purported WLFI white paper that showed the project's code was "strikingly similar" to Dough Finance, which was exploited for over $2 million in mid-July.
It remains to be seen how Eric and Donald Trump Jr. will respond to concerns regarding their venture's "public" token sale.
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