Trump’s WLFI Token Sale Fizzles Amid Website Crashes and Issues

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The initial token offering for World Liberty Financial, the cryptocurrency initiative endorsed by Donald Trump, faced challenges right from its launch, with only a limited number of its WLFI tokens sold.

The WLFI token sale commenced on October 15, accompanied by significant traffic and excitement that led to website failures; however, it fell short of expectations, garnering approximately $10 million.

After going live at 8:40 a.m. ET yesterday, the WLFI token managed to sell over 344 million tokens to 3,000 distinct addresses within the first hour at $0.015 each, accumulating just over $5 million.

*TRUMP’S WLFI PRESALE RAISES $5M IN FIRST HOUR

*WLFI SITE EXPERIENCES PERIODIC DOWNTIME, NO TOKEN PURCHASES IN LAST 8 MINUTES

— db (@tier10k) October 15, 2024

Frequent website outages plagued the sale, complicating the purchasing process for potential investors. By 11:25 p.m. ET, merely 610 million WLFI tokens had been sold out of the 20 billion allocated for the token sale, raising $9.15 million.

The situation worsened due to the emergence of counterfeit WLFI tokens, with at least seven listed on CoinMarketCap. One of these tokens saw a surge of 178%, while another plummeted by 86%.

World Liberty Financial is a blockchain project supported by the Trump family, aiming to utilize blockchain technology to provide decentralized finance (DeFi) solutions as an alternative to conventional banking services.

“We’re spearheading a financial revolution by breaking down the dominance of traditional financial institutions and restoring power where it rightfully belongs: in your hands,” states the project’s website.

The token offering was highly awaited, with over 100,000 participants whitelisted before the launch.

Donald Trump utilized social media to lend his support to the new initiative.

“Today’s the day!” the presidential candidate remarked in a social media post on platform X.

Today’s the day! @WorldLibertyFi token sale is now live. Get your $WLFI tokens today. Purchase $WLFI here: https://t.co/jg1tOaHHBy pic.twitter.com/j8ewxa13wp

— Donald J. Trump (@realDonaldTrump) October 15, 2024

The project labels Trump its “chief crypto advocate,” while Trump’s sons, Eric, Barron, and Donald Jr., are designated as “Web3 ambassadors.”

The project’s website declares the initiative is ”Inspired by Donald J. Trump,” and encourages individuals to ”Be Defiant” and ”Shape A New Era of Finance.”

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