{"id":17797,"date":"2024-10-15T17:57:34","date_gmt":"2024-10-15T14:57:34","guid":{"rendered":"https:\/\/forklog.com\/en\/trump-familys-crypto-project-raises-5-million-in-first-hour-of-presale\/"},"modified":"2024-10-15T17:57:34","modified_gmt":"2024-10-15T14:57:34","slug":"trump-familys-crypto-project-raises-5-million-in-first-hour-of-presale","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/trump-familys-crypto-project-raises-5-million-in-first-hour-of-presale\/","title":{"rendered":"Trump Family&#8217;s Crypto Project Raises $5 Million in First Hour of Presale"},"content":{"rendered":"<p>The Trump-backed crypto project, World Liberty Financial, raised $5 million during its token sale, amounting to 1.7% of its target.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">*TRUMP\u2019S WLFI PRESALE RAISES $5M IN FIRST HOUR<\/p>\n<p>*WLFI SITE FACES ON-AND-OFF DOWNTIME, NO TOKEN PURCHASES IN LAST 8 MINUTES<\/p>\n<p>\u2014 db (@tier10k) <a href=\"https:\/\/twitter.com\/tier10k\/status\/1846187420129112502?ref_src=twsrc%5Etfw\">October 15, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Observers noted disruptions on the project&#8217;s website due to a surge of participants.<\/p>\n<p>At the time of writing, the World Liberty Financial wallet had received transfers of approximately $4 million in Ethereum, $1.2 million in USDT, and $0.25 million in USDC. <a href=\"https:\/\/etherscan.io\/token\/0xda5e1988097297dcdc1f90d4dfe7909e847cbef6\">View details<\/a>.<\/p>\n<p>The goal is to raise $300 million with a valuation of $1.5 billion by issuing 100 billion WLFI on the Ethereum blockchain.<\/p>\n<p>The number of asset holders reached 2,985.<\/p>\n<p>WLFI serves as a governance token for the platform, allowing users to participate in borrowing, lending, and creating liquidity pools. The product is promised to be made &#8220;more user-friendly and accessible.&#8221;<\/p>\n<p>According to the white paper, the distribution of WLFI will be as follows:<\/p>\n<ul class=\"wp-block-list\">\n<li>62.66% of the tokens will be distributed through the token sale, with part of the net proceeds going to the project&#8217;s multisig wallet reserve fund;<\/li>\n<li>17.33% of WLFI will be allocated to incentivize participation in World Liberty governance and community development initiatives;<\/li>\n<li>The remaining 20% of tokens will be allocated to the team, advisors, and future employees. An undisclosed portion of WLFI will be reserved for the WLF fund, Trump Organization affiliates, and Witkoff Group.<\/li>\n<\/ul>\n<p>In September, the Trump family officially launched their cryptocurrency project, World Liberty Financial.<\/p>\n<p>Subsequently, the team opened <span data-descr=\"know your customer\" class=\"old_tooltip\">KYC<\/span> for token sale participants<strong>. <\/strong>Due to regulatory restrictions, participation in the campaign is available only to accredited investors. Their number reached <a href=\"https:\/\/www.coindesk.com\/markets\/2024\/10\/14\/trump-backed-world-liberty-financial-whitelists-100k-accredited-investors-ahead-of-wlfi-launch\/\">100,000<\/a> before the presale.<\/p>\n<p>Back in August, Trump <a href=\"https:\/\/forklog.com\/en\/news\/trump-vows-to-make-america-the-crypto-capital-of-the-world\">announced a plan<\/a> aimed at strengthening the United States&#8217; leadership in the cryptocurrency sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Trump-backed crypto project, World Liberty Financial, raised $5 million during its token sale, amounting to 1.7% of its target. *TRUMP\u2019S WLFI PRESALE RAISES $5M IN FIRST HOUR *WLFI SITE FACES ON-AND-OFF DOWNTIME, NO TOKEN PURCHASES IN LAST 8 MINUTES \u2014 db (@tier10k) October 15, 2024 Observers noted disruptions on the project&#8217;s website due to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1093,991,1378],"class_list":["post-17797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-defi","tag-donald-trump","tag-token-sales"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/17797","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=17797"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/17797\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/17796"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=17797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=17797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=17797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}