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Homepage > News > Business > Trump DeFi project’s token sale bombs harder than Joker sequel Donald Trump’s first-ever token sale proved a major bust while opponent Kamala Harris is trying to sell her ‘crypto’ advocacy to black voters ahead of November’s U.S. presidential election. October 15 brought the initial token sale of the Trump-aligned World Liberty Financial (WLF) decentralized finance (DeFi) project. The day before, the WLF team conducted an ‘X’ Spaces event in which they claimed that more than 100,000 accredited (aka deep-pocketed) investors had been ‘whitelisted’ to participate in the sale of the WLFI ‘governance’ token. Trump himself pimped the token sale via his personal X account over the weekend, calling it “YOUR chance to help shape the future of finance.” Possibly, but it’s primarily YOUR chance to help shape the future of Donald’s finances, given the generous allocation of WLFI tokens his family is slated to control. But on the big day, the WLF website repeatedly crashed once the sale got underway, finally appearing to crash for good about an hour into the process. By that point, around 2,900 individual wallets had purchased over 330 million WLFI at a rate of 1.5¢ per token for a total haul of around $5.5 million worth of ETH, USDT and USDC. As the outage dragged on, the WLF official X account failed to offer a single word of explanation as to what happened, what they were doing to remedy it, or when the sale might resume. Equally silent were the X accounts of the Trump offspring—sons Don Jr., Eric and Barron—whose photos are on the WLF executive roster as ‘Web3 Ambassadors.’ The site finally came back online by mid-afternoon, but by 10pm EST, the total number of tokens sold was under 700 million, leaving just under 19.3 billion tokens…

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Filed under: News - @ October 16, 2024 12:21 pm