The token issued by Trump family cryptocurrency company World Liberty Financial dropped in value on its first day of trading.
World Liberty Financial’s tokens, known as $WLFI, were down around 16.1% in the past day as of 9:15 am AEST (11:15 pm GMT). United States President Donald Trump launched the cryptocurrency venture, World Liberty Financial, alongside his sons last year, while he was a candidate for the presidency.
The token began trading on Binance yesterday. “This isn’t some meme coin, it’s the governance backbone of a real ecosystem changing how money moves,” wrote Donald Trump Jr., Trump’s son and a co-founder of World Liberty Financial.
More than US$1 billion worth of $WLFI was traded on the token’s first day. Its current market capitalisation is around $6.3 billion.
The token briefly traded above US$0.30 before falling on its first day, later dropping to a low of around $0.21.
These $WLFI tokens were sold to investors last year, with holders voting in July to make them tradable. Early investors can sell up to 20% of their holdings, the company said, while founders’ tokens are not yet tradable.
World Liberty Financial has also issued a stablecoin tied to the U.S. dollar.
The Trump family has made around US$500 million from World Liberty Financial since its launch in 2024, according to Reuters.
While Donald Trump continues to own $WLFI tokens, he has said his assets are held by a trust managed by his children. His sons, Donald Trump Jr. and Eric Trump, both have roles at World Liberty Financial, and the Trump family holds around a quarter of all $WLFI tokens.
World Liberty Financial has been consulting investors about a potential US$1.5 billion funding round that would set up a public company to hold $WLFI tokens, Bloomberg reported in August.
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