The Trump family's new cryptocurrency venture, World Liberty Financial, got off to an inauspicious start after a website crash limited investors' ability to participate in its first token sale event.
The crypto token WLFI went on sale around 9 a.m. ET on Tuesday. As of this writing, the website is still suffering from reliability issues, with some visitors being directed to error pages. “We are unable to connect to this app or website's server at this time,” the notification says.
Data from the analytics platform Etherscan shows: Only 8,500 participants In the token pre-sale so far, we have purchased approximately 750 million tokens, representing 3.75 percent of the total available in the pre-sale. World Liberty Financial officials previously said: said in X 100,000 US accredited investors were reportedly pre-approved after registering their interest in the token.
World Liberty Financial Advisor Sandy Penn Speaking to virtual currency media CoinDesk The website reportedly went down due to a sudden increase in traffic. He said more than 70 million unique visitors came to the site within the first hour of the token sale. The group did not immediately respond to a request for further comment.
Website issues have made it difficult to accurately assess demand for WLFI tokens among investors. But the rocky launch will provide pause for those concerned about the potential setback for the DeFi industry if Trump's project fails.
Since August, World Liberty Financial has been touted by the Trump family as a way to “revolutionize finance” and “make finance great again.” The website lists presidential candidate Donald Trump as the “chief advocate of cryptocurrencies” and his sons (Eric, Donald Jr., and 18-year-old Barron) as “Web3 ambassadors.” There is.
The World Liberty Financial platform will offer peer-to-peer lending and borrowing in the spirit of what is known in the crypto world as decentralized finance (DeFi). However, specific details about the project have not yet been revealed. Multiple announcements were made on Telegram and X teasing the project. some kind of manifesto Regarding the purpose of the project, the Trumps have provided little information about how the platform will work or the range of services available to customers.
This created an opening for bad guys to sneak in. In late August, impersonators took to the project's Telegram channel and promoted themselves as “the only.” [sic] Where to get official news” — to promote non-genuine token giveaways. In early September, X accounts owned by Eric's wife, Lara Trump, and the former president's daughter, Tiffany Trump, were compromised and used by hackers to sell another crypto token allegedly associated with World Liberty Financial. It is said to have been used by.
