American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Latest News

Trump-endorsed WLFI cryptocurrency launch stumbles, raising just $11.8M amid technical hurdles

by admin October 17, 2024
October 17, 2024

The launch of World Liberty Financial (WLFI), a cryptocurrency endorsed by Donald Trump, has encountered significant challenges, raising only $11.8 million within its first 24 hours—far short of its ambitious $300 million fundraising goal at a $1.5 billion valuation.

Designed as a governance token, WLFI allows holders to vote on key decisions within the platform.

However, with just 9,050 unique wallet addresses created against an expected 100,000 whitelisted investors, the project faces substantial obstacles in the competitive digital asset landscape.

Why WLFI’s ambitious goals are failing to materialize

Marketed as a “crypto bank” that enables users to borrow, lend, and invest in digital currencies, WLFI’s co-founder, Zachary Folkman, previously expressed optimism about the project’s anticipated popularity and the number of whitelisted investors.

However, WLFI’s launch has not gone as planned. Data from Etherscan reveals a stark discrepancy between the number of whitelisted investors and those who have purchased tokens.

To date, only 9% of the projected investors have participated, leaving the project far from its $300 million target.

Technical setbacks hinder WLFI token sale

A significant part of the disappointing launch can be attributed to technical difficulties.

The exclusive marketplace for WLFI suffered repeated outages during its debut, displaying a “We are under maintenance” message to prospective investors.

These ongoing issues likely frustrated many potential buyers, who were unable to access the platform when needed.

Additionally, World Liberty Financial has not yet released an official white paper or a formal business plan, leaving many would-be investors unclear about the project’s long-term vision.

WLFI’s status as a Regulation D token offering poses another substantial challenge.

This regulation allows projects to raise capital without registering securities with the US Securities and Exchange Commission (SEC), but it comes with stringent requirements that limit the pool of potential investors.

Only accredited investors—those with a net worth exceeding $1 million—can participate, significantly narrowing WLFI’s market and potentially explaining the shortfall in expected investors.

Limited voting opportunities for WLFI token holders

Although WLFI is marketed as a governance token, there are currently no decisions for token holders to vote on, as the crypto bank associated with the digital coin is still in development.

The platform is awaiting approval from Aave, a leading crypto lending platform, and until this process is finalized, WLFI holders are left with little more than promises of future utility.

This uncertainty has made many investors hesitant, as the token’s value remains speculative without a functioning platform.

While Donald Trump’s endorsement has drawn attention to the project, the path to recovery remains unclear.

WLFI has faced criticism for its lack of transparency, with no white paper or comprehensive business plan available to the public.

Furthermore, fine print on World Liberty Financial’s website indicates that Trump and his family may receive significant tokens and fees from the project, raising concerns about potential conflicts of interest.

The post Trump-endorsed WLFI cryptocurrency launch stumbles, raising just $11.8M amid technical hurdles appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
Are McKinsey’s 500 job cuts in China a response to legal challenges and market pressures?
next post
Volvo’s Q3 earnings fall short: stagnant demand raises alarm for future growth

Related Posts

Australian police find bodies in search for missing...

February 28, 2024

China celebrates historic Olympic gold medal tie with...

August 12, 2024

Gangs rule Haiti’s capital. Some say they’re ready...

March 5, 2024

Putin says he’s ready to use nuclear weapons...

March 14, 2024

Dow, S&P 500 slip as investors assess hot...

December 15, 2024

Exit polls show Germany’s conservatives winning as far-right...

February 24, 2025

NASA PREFIRE mission launches to study Earth’s polar...

May 26, 2024

Iron ore futures extend losing streak as US-China...

March 3, 2025

Pakistan election candidate shot dead as violence escalates...

February 1, 2024

‘Two sessions’: China scraps a decades-long political tradition as Xi...

March 5, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • FBI raid on John Bolton’s home in Washington linked to classified documents

      August 25, 2025
    • Argentine senate deals blow to Milei’s austerity agenda with university budget boost

      August 25, 2025
    • Jackson Hole Symposium: what Powell said about economic effects of Trump’s tariffs

      August 25, 2025
    • At Jackson Hole, Fed Chair Powell signals possible cuts while warning of uncertainty

      August 25, 2025
    • Trump threatens to fire Fed Governor Lisa Cook amid mortgage fraud allegations

      August 25, 2025

    Categories

    • Business (3,763)
    • Investing (2,783)
    • Latest News (2,048)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved