The $WLFI digital tokens of Donald Trump's family's cryptocurrency project World Liberty Financial fell in value on the first day of trading — at the beginning their value was $0.33, but later fell to $0.26. This is reported by Reuters.
Investors who bought the tokens last year voted in July to list $WLFI on the exchange, which would have opened up their trading and potentially boosted the value of the shares owned by the US president's family. In response, World Liberty Financial said early investors could sell 20% of their holdings.
The drop in value saw the total market capitalization of $WLFI fall from a high of $9.4 billion at noon Monday to $6.7 billion as of Tuesday morning, according to GoinGecko data. Trading is taking place on the world’s largest cryptocurrency exchanges, including Binance and Bybit.
The Trump family has made about $550 million from the project since World Liberty launched in 2024. The tokens offered were not for sale and instead gave holders the right to vote on certain changes to the business. Early investors said that what interested them most about $WLFI was its connection to Trump and the expectation that the token’s value would increase due to his support.