99% Vote in Favor—World Liberty Financial Token Proposal Gains Massive Support
World Liberty Financial token (WLFI) holders decisively opted to make their tokens tradable, which might affect their market value and the Trump family's finances.
World Liberty Financial, a Trump family enterprise, introduced WLFI tokens last fall as part of its decentralized finance (DeFi) network, which also contains USD1.
These coins originally gave holders voting rights on company developments, including platform code updates, rather than trading rights.
Early investors were enticed to WLFI because of Trump's support, expecting the tokens to gain.
The latest decision to enable token trading allows market forces to establish pricing. This changeover may draw more investors, increasing trading costs for WLFI platforms and feeding speculation about the tokens' worth.
Conflicts of Interest for Trump
The Trump family's financial connection with World Liberty Financial has sparked ethical questions, especially from Democratic politicians.
Senator Elizabeth Warren and Representative Maxine Waters have warned the US Securities and Exchange Commission (SEC) that the family's financial investment conflict of interest might affect bitcoin sector regulation.
They noted that the SEC has not classed WLFI tokens as securities, therefore they are not regulated like stocks.
The White House claims there are no conflicts of interest since his children control his assets via a trust. The details of this trust agreement are unknown.
Trump's firm, DT Marks DEFI LLC, received 22.5 billion of the 100 billion WLFI tokens, and he had 15.75 billion as of last year. World Liberty is said to have earned the Trump family $500 million since its founding.
Following the vote, the White House refused to comment to Reuters on how WLFI's tradability may effect the family's finances.
A 99.94% majority of 20,900 voters supported tradability. Voters included token holders who expected price hikes and those who supported Trump.
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