World Liberty Financial, the cryptocurrency platform backed by U.S. President Donald Trump’s family, said its development team is working to make its governance token, WLFI, transferable
World Liberty Financial, the cryptocurrency platform backed by U.S. President Donald Trump’s family, said its development team is working to make its governance token, WLFI, transferable. The shift would reverse an earlier position that kept the token non-tradable after last year’s public sale.
Co-founder Zak Folkman told the Permissionless conference in New York that “multiple” listed companies have approached the firm about holding WLFI in their corporate treasuries, underscoring demand should trading be allowed. He did not give a launch date but said additional details are coming in the next few weeks.
Folkman added that World Liberty expects to publish its first third-party attestation of the USD1 stablecoin within days and plans to release a consumer mobile application aimed at simplifying crypto payments. USD1, introduced in March, is said to be fully backed by short-term U.S. Treasuries, dollar deposits and cash equivalents.
World Liberty has raised more than $590 million by selling roughly 30 billion WLFI tokens, according to earlier disclosures. The project’s rapid fundraising and the president’s simultaneous push to relax industry rules have drawn criticism from ethics groups, who warn of potential conflicts of interest.
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