Trump’s World Liberty Financial token, called WLFI, started trading today, Sept 1, and quickly became one of the trending coins in the market.
The token runs on the Ethereum network and made its debut on Labor Day. Within just hours of trading, the token jumped into the top ranks.
According to data from CoinMarketCap, WLFI had a market value of $5.38 billion, which puts it among the 27 largest digital currencies. Currently, it’s trading for $0.2184.
Wild First Day of Trading
The token opened at about $0.265 and later moved closer to $0.3115. Early investors who bought at the first sale price of $0.015 made more than 1,700% profit in a single day.
This kind of quick gain is unusual, even when the market is volatile. Trading began on some of the major exchanges like Binance, Bybit, OKX, and Gate, and they have helped spread the token fast across the globe.Meanwhile, there was a bit of excitement in the early market opening.
According to data from CoinGlass, more than $12 million in bets were wiped out in just a few hours. Around $8.5 million in long trades and $3.8 million in short trades were liquidated.Even Bitcoin saw fewer liquidations during the same time.
Trump Sons Celebrates the Launch
Members of the Trump family were quick to celebrate. In a post on X, Donald Trump Jr. said, “Big day—World Liberty Financial just launched the WLFI token. This isn’t some meme coin, it’s the governance backbone of a real ecosystem changing how money moves.”
His brother Eric Trump also said on X, “We’re setting a new standard for financial freedom; built on trust, speed, and U.S. values. This is a huge moment for the future of money!”
The launch followed a vote in July by WLFI holders, who decided to make the coin transferable. Before this change, the token was only used for voting on project rules. World Liberty raised $550 million from sales earlier this year, and investors can now sell up to 20% of their holdings, according to World Liberty Financial.
Criticized Yet Profitable
The company brands itself as a decentralized finance project, meaning it plans to let users borrow and lend crypto without banks or middlemen.
The project has not yet launched those services, but it already released a stablecoin called USD1, which is now the sixth largest stablecoin by market size. The company was co-founded by Donald Trump, his three sons, and U.S. envoy Steven Witkoff.
Trump said in July that he personally made $57.3 million from the project. However, Reuters reported that the Trump family has earned about $500 million overall since the launch.
Still, Democratic lawmakers and ethics experts have raised concerns over conflicts of interest because Trump is also involved in setting rules for the crypto industry. The White House has said his assets are managed by his children in a trust and that there are no conflicts.
Also Read: Crypto Finds Gateway Into Australia’s $2.8 Trillion Pension System
