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Trump-Backed WLFI Tokens Approved for Secondary Trading

Token holders' near-unanimous approval paves the way for a phased market rollout under heightened conflict-of-interest scrutiny

Representations of cryptocurrencies are seen in front of displayed decreasing stock graph in this illustration taken November 10, 2022. REUTERS/Dado Ruvic/Illustration

Overview

  • Holders voted 99.94% in favor of unlocking WLFI for trading after last year’s $590 million presale.
  • The approved proposal outlines a phased token release with early backers eligible at launch and longer vesting schedules for founders, team members and advisors.
  • WLFI functions as the governance token of World Liberty Financial’s DeFi protocol, granting holders voting rights over code and business changes.
  • The Trump family retains 15.75 billion tokens through DT Marks DEFI LLC and has realized roughly $500 million in gains from the venture.
  • Senators Warren and Waters have urged the SEC to address conflict-of-interest concerns as WLFI remains unclassified as a security.