The Trump Coin: World Liberty Tokens Are Hitting the Market

Holders of digital tokens issued by a crypto venture linked to Donald Trump's family have voted to make them tradable on the open market. The move paves the way for the tokens to be widely bought and sold, which could significantly boost the value of the president's personal holdings.

The vote, which passed with overwhelming support on Wednesday, concerns the "World Liberty" tokens, known as $WLFI. This decision could allow early investors and the Trump family to profit from speculation on the token's price.

What Are World Liberty Tokens?

The $WLFI tokens were first sold to investors last autumn after the Trump family and their partners launched a "decentralised finance" platform. Initially, the tokens were not tradable and only gave holders the right to vote on business decisions. For many early investors, the main attraction was the connection to Donald Trump, with the expectation that his backing would eventually cause the tokens to increase in value.

Making the tokens tradable will allow their price to be determined by market demand, opening them up to a much wider pool of crypto investors and enabling speculation.

Concerns Over a Conflict of Interest

The venture has drawn sharp criticism from Democratic politicians and ethics experts, who argue that it creates a serious conflict of interest. As the president's administration is responsible for shaping regulations in the crypto industry, his family's financial stake in such a project raises ethical questions.

Earlier this year, senior Democrats sent a letter to the U.S. Securities and Exchange Commission (SEC), describing the family's stake as an "unprecedented conflict of interest." The tokens have not been designated as securities by the SEC, meaning they are not subject to the same strict rules as investments like stocks.

The White House has previously stated that the president's assets are held in a trust managed by his children and that no conflicts of interest exist. However, details of the trust have not been made public. Ethics experts warn that the situation is a "clear conflict of interest" and that the American public should be concerned about the president's personal financial interests in the cryptocurrency market.

The Scale of the Trump Family's Stake

The Trump family stands to benefit significantly from any increase in the token's value. The president's company was set to receive 22.5 billion out of a total 100 billion $WLFI tokens. According to a public financial disclosure report published last month, the president personally held 15.75 billion of these tokens at the end of last year.

It is estimated that the Trump family has already made around $500 million from the World Liberty platform since its launch. When asked about the vote's potential impact on the value of the family's holdings, the White House press office said it was not an inquiry for them.

Overwhelming Support from Investors

The proposal to make the tokens tradable was approved by 99.9% of the votes cast. Many voters expressed their hope for financial gain or their support for the president. "We invested to get rich," one wrote on the company's website, while another simply put, "To make America great again."

One investor from Milan said he had bought 95,000 tokens for about $5,000 and voted in favour of them becoming tradable. He added that he plans to hold the tokens until their price reaches $12.

World Liberty Financial has not yet confirmed a date for when trading will begin, stating that "additional details are forthcoming."