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Cryptocurrency News Articles
World Liberty Financial (WLF), the digital asset venture associated with President Donald Trump, has successfully raised $1 billion through its token sales.
Jan 22, 2025 at 08:00 am
Initially launched in October with a goal of selling only 20 billion WLF tokens, the decentralized finance’s (DeFi) venture token surpassed this target by selling 21 billion tokens
World Liberty Financial (WLF), the digital asset venture linked to former President Donald Trump, has reportedly sold 21 billion tokens, exceeding its initial goal and raising $1 billion in the process.
According to the Financial Times, this surge in interest prompted WLF to release an additional 5 billion tokens from its total supply of 100 billion, owing to “massive demand and overwhelming interest.”
The Trump family's involvement in the cryptocurrency space has garnered both excitement and mixed reactions. Over the weekend, both Donald Trump and his wife, Melania, launched their own memecoins, which experienced rapid surges in value.
Eric Trump, who is actively promoting World Liberty Financial, also attended a “high-profile crypto event” in Washington, celebrating the convergence of politics and digital assets as his father prepares for a new administration.
During his election campaign, Trump expressed support for the crypto industry, an stance that has resonated with industry executives, many of whom anticipate a more favorable regulatory environment compared to the policies of the outgoing Biden administration.
The appointment of crypto-friendly figures, such as Paul Atkins to lead the Securities and Exchange Commission (SEC) and David Sacks as the newly created artificial intelligence (AI) and Crypto Czar, further highlights this potential shift.
However, the venture has also faced criticism.
Concerns have been raised regarding the limited rights associated with WLF tokens, which only grant holders minimal voting rights and no economic entitlements. Additionally, the tokens cannot be traded or sold back to WLF, leading to questions about their long-term value and utility.
Compounding the謎 surrounding WLF, notable crypto entrepreneur and TRON blockchain founder Justin Sun recently disclosed a substantial investment of $45 million into the venture, increasing his total stake to $75 million.
The market has responded in a volatile manner, with Bitcoin briefly surging to a record high of over $109,000 on Monday, followed by a retraction toward $102,000 after Trump's inauguration speech.
Analysts now speculate that upcoming executive orders from Trump could favor the crypto industry in the US, though some industry veterans remain skeptical.
Nic Carter, a venture capitalist, has raised concerns about the “ethical implications” of a sitting president engaging in business ventures that could be viewed as “conflicts of interest.”
The launch of Trump's memecoins has also sparked controversy. The Donald Trump memecoin experienced a sharp decline from a weekend high of $75 to $52.
Meanwhile, the Melania Trump memecoin, which disrupted the market dynamics of the Donald coin, saw its value fluctuate significantly from a high of $13.64 to $8.43.
Bernstein analysts have described this “chaotic crypto era” as a pivotal moment, suggesting that government engagement with cryptocurrencies may redefine the relationship between leadership and emerging technologies.
The analysts believe that the launch of Trump and Melania's memecoins points toward a potential regulatory shift in the country, where digital assets could serve as a direct link to a mass audience.
The launch of Trump's memecoins coincides with the conclusion of his administration and the anticipation of upcoming executive orders. While some industry executives remain optimistic about the potential for these orders to benefit the crypto industry, others are skeptical.
The varying perspectives highlight the complex and evolving relationship between politics, digital assets, and the broader economic landscape.
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- RAY Token Bounces After Key Announcement
- Mar 20, 2025 at 03:11 am
- RAY, the native token of Solana decentralized exchange (DEX) Raydium, is up 15% today. This notable rebound comes after the DEX revealed that it is introducing LaunchLab, a platform that could directly compete with token generator Pump.fun.
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