World Liberty Financial, a crypto project promoted by Donald Trump and his sons, encountered technical problems during its token sale on Tuesday. The project, which is part of the decentralized finance (DeFi) space, launched its tokens to accredited investors but faced significant disruptions as the platform struggled with website outages.
Donald Trump’s WLFI Token Sale Faces Doom
The sale, which began early in the morning, sold more than 500 million Ethereum-based tokens by 1:48 p.m. New York time, at a price of 1.5 cents each. World Liberty Financial aims to raise $300 million, targeting a $1.5 billion valuation through the initial token offering.
Accredited investors, defined by their income or professional status—such as individuals with a net worth exceeding $1 million—were invited to participate in the sale after registration opened on September 30. Despite its technical challenges, the sale has garnered significant attention.
Over the weekend, Donald Trump promoted the sale in a post on X (formerly Twitter), though the project’s official X and Telegram accounts remained silent on Tuesday. The Trump family has been linked to the project, though the white paper clarifies that they do not directly manage or operate it, although they may receive compensation.
Donald Trump’s project claims to offer new opportunities to Americans. “We plan for all Americans to be able to use this platform in the future, giving everyone access to the tools and opportunities that have been restricted for far too long,” one of the project’s early statements read.
Scam Warning!
Like many new crypto ventures, World Liberty Financial has faced challenges with fraudulent accounts and scams on social media. Some users complained on X about being unable to purchase the tokens, prompting scammers to seize the opportunity.
An account impersonating the project posted a fake message suggesting users could buy tokens by depositing funds to a given blockchain address. Hence, Elon Musk’s X platform later suspended the account.
World Liberty Financial’s token presale comes just weeks before the presidential election, aligning with Trump’s recent efforts to court crypto-friendly voters. Trump, who headlined the largest Bitcoin conference earlier this year, has positioned himself as a prominent figure in the crypto space.
He is listed as the project’s chief crypto advocate, while his sons, Eric, Donald Jr., and Barron, are named as web3 ambassadors. Key figures in the project also include Paxos co-founder Rich Teo and Polychain senior cryptographer Luke Pearson. Amid the token launch, Donald Trump’s win odds surged to 57.9% on Polymarket while opponent Kamala Harris’ chances slumped to 41.9%.
Also Read: Mark Cuban on Trump’s Transactional Politics and Whale Influence
Source: https://www.cryptonewsz.com/donald-trumps-wlfi-website-crashes-token-sale/