WLFI Trading Approved by World Liberty Holders

World Liberty Financial token holders have overwhelmingly approved the trading of WLFI tokens, linking the asset to Donald Trump. A proposal from the WLFI team was presented on July 9 and received 99.94% support during the vote held on Wednesday. The team outlined, "This proposal aims to gather community input and officially initiate the token's tradability." This decision is a pivotal moment for the World Liberty Financial ecosystem, encouraging wider community involvement and protocol evolution. The introduction of trading will facilitate speculation and price evaluation. WLFI tokens were sold at two price points: $0.015 and $0.05, and were previously non-transferable, granting holders voting rights on protocol matters and connections to Trump. In May, for example, Trump hosted a gala dinner for top TRUMP memecoin holders, including Tron founder Justin Sun. This governance vote marks a move toward making the World Liberty protocol more accessible to participants, thereby promoting community ownership and interaction. The proposal stipulates that only tokens sold to early backers will be unlocked, while the remaining supply of 100 billion WLFI tokens will be subject to a second community vote to establish the unlocking and release timeline. Additionally, the protocol's founders, team, and advisor tokens will follow a longer unlocking schedule compared to early supporters to demonstrate their long-term commitment. World Liberty Financial counts Donald Trump's three sons among its advisors, along with Steve Witkoff, a close aide to Trump and current U.S. special envoy to the Middle East. In October, it was revealed that DT Marks DEFI LLC, a Trump-associated company, would acquire 22.5 billion WLFI tokens. As of the end of last year, Trump held 15.75 billion tokens, significantly contributing to the Trump family's crypto wealth. According to Bloomberg, profits from crypto ventures constitute roughly $620 million of the Trump family’s total net worth of $6.4 billion, including about $390 million from World Liberty's token sale. Trump's growing involvement in crypto has drawn scrutiny from lawmakers, including Democratic Senator Elizabeth Warren and Representative Maxine Waters, who have raised concerns about potential conflicts of interest stemming from the Trump family's financial ties to World Liberty. Disclaimer: The Block is an independent media organization providing news and insights. As of November 2023, Foresight Ventures is a major investor and operates separately from The Block. This article is for informational purposes only and should not be construed as legal, investment, or financial advice.