WLF governance vote passed by a large majority, WLFI tokens are about to open for trading.
In a recent governance vote for the cryptocurrency project World Liberty Financial (WLF), supported by the Trump family, a proposal to open $WLFI token trading passed with an overwhelming 99.9% approval rate.
According to (CryptoBriefing), this voting result indicates that WLF will shift to an open participation model, allowing general investors to purchase $WLFI tokens through exchanges soon.
The WLF team stated in the proposal:
‘This will be an important milestone in the development of the WLF ecosystem, opening the door for broader community participation and protocol development.’
WLFI token phased unlocking plan initiated.
According to (CoinDesk), WLF raised approximately $590 million through a presale last year, including $30 million worth of $WLFI tokens purchased by TRON founder Justin Sun.
These tokens have been locked since last year's presale, unable to be bought, sold, or transferred.
Now, WLF announces a phased token unlocking plan, with some presale tokens unlocking upon trading launch, while the release schedule for the remaining tokens will wait for a second community vote to decide.
Tokens held by the WLF founders, team, and advisors will be locked for a longer period than the allocations for early supporters, highlighting their long-term commitment to the project.
The controversy surrounding Trump’s involvement with WLF is escalating, with Democratic lawmakers expressing concerns.
As WLF passed the proposal to open $WLFI token trading, several Democratic lawmakers in the U.S., such as Elizabeth Warren and Maxine Waters, are worried about potential conflicts of interest due to Trump’s involvement in the cryptocurrency space.
According to (Decrypt), Trump recently disclosed earnings of $57.3 million from the token sale of WLF, with the Trump family set to receive 75% of the initial sale revenue.
Further reading:
Making a fortune in the crypto space! Trump made over $50 million last year from the WLFI crypto platform token sale.
WLF is a decentralized finance (DeFi) platform planning to offer cryptocurrency lending services, co-led by DeFi project founders Chase Herro, Zak Folkman, along with the Trump family and the Witkoff family.
Recently, WLF also issued a stablecoin named USD1, currently developing a DeFi lending platform.
The White House stated that Trump's assets are held in a trust managed by his children, but the specific terms of that arrangement have not been made public. Meanwhile, the $WLFI tokens are not currently considered securities by the U.S. Securities and Exchange Commission (SEC), operating outside typical investment regulations.
Further reading:
WLF founder shares the USD1 vision! Cathay Pacific reveals RWA strategy again, with special legislation progress becoming a focal point.
This content is generated by Crypto Agent summarizing various information, reviewed and edited by (Crypto City). It is still in a training phase and may contain logical biases or information errors; the content is for reference only and should not be considered investment advice.
‘Overwhelmingly passed! Trump’s crypto platform WLFI will open for trading, will it be available on exchanges soon?’ This article was first published in ‘Crypto City’.
