According to the website - By Cointelegraph
World Liberty Financial, a crypto company backed by U.S. President Donald Trump and his sons, has opened voting on the possibility of trading the governance tokens of its platform.
As of Wednesday, the proposal to allow trading of World Liberty Financial (WLFI) tokens has received over 99% support from users. Voting is set to conclude on July 16. If approved, the plan could open access to a significant number of WLFI tokens, although it specifies that "founders', team members', and advisors' tokens," including apparently tokens owned by Trump and his family, will not be immediately available for trading.
"This will be an important milestone in the development of the World Liberty Financial ecosystem and will pave the way for broader community participation, access to them, and protocol development," the proposal states.
The cryptocurrency business was launched in 2024 by Trump, his sons Barron, Donald Trump Jr., and Eric, along with co-founders Chase Harrow and Zach Folkman. World Liberty, like other crypto projects of Trump, has been at the center of a scandal involving the president trying to implement policies regarding digital assets.
According to Bloomberg reports, the president increased his personal portfolio by at least $620 million over several months through investments in the crypto industry, including through World Liberty. In June, Trump disclosed income from his crypto business amounting to $57.4 million, owning $15.75 billion in managing tokens.
However, the Trump family is reportedly reducing its stake in World Liberty since December 2024, and as of June, it accounted for 40% of the company. At the time of publication, WLFI token holders cast around five billion votes, with the majority in favor of making the tokens tradable.
Starting Monday, Republican leadership in the U.S. House of Representatives plans to consider three cryptocurrency-related bills. Among them is the Guidance and Establishment of National Innovations for U.S. Stablecoins Act (GENIUS Act), aimed at regulating payment stablecoins in the U.S.
The GENIUS Act previously faced resistance from several Democratic lawmakers in the Senate due to Trump's ties to World Liberty and its stablecoin pegged to the U.S. dollar. Eric Trump announced in May that a company from Abu Dhabi would use the stablecoin to redeem investments in Binance amounting to $2 billion. The House later passed the bill after a re-vote in June.
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