donald trump Supports decentralized finance protocols world liberty financialThe token sale will begin on Tuesday morning, the former president said on Saturday.
what happened: “This is an opportunity to help shape the future of finance,” President Trump wrote on social media platform X (formerly Twitter) about the upcoming token sale. The President also urged interested candidates to attend the X Spaces event on Monday regarding the token sale.
World Liberty Financial's website currently has a timer until the sale begins.
Why it's important: The project aims to raise $300 million from its first sale, according to a report from The Block last week. Citing a roadmap shared with prospective investors, the report said 20% of the token supply will be sold at a fully diluted valuation of $1.5 billion.
The token, called WLFI, will serve as the platform's governance token, allowing users to vote on future developments. However, tokens are non-transferable and non-revenueable, unlike most crypto assets that can be traded and generate passive income.
Price action: The broader crypto market reacted positively to this news. Bitcoin BTC/USD It was up 0.34% in the last 24 hours. Ethereum ETH/USD Increased by 0.86%, dogecoin doge/usd The stock rose 1.15%, according to data from Benzinga Pro.
read more:
Image via Wikimedia Commons
Market news and data powered by Benzinga API
© 2024 Benzinga.com. Benzinga does not provide investment advice. Unauthorized reproduction is prohibited.
