On June 26, the Trump family's crypto project WLFI announced, "The team has heard the community's voice and is actively advancing the transferability feature of the WLFI token. Relevant work is currently underway behind the scenes, and a major announcement will be made soon." On July 10, the WLFI official team officially launched a community voting activity, and seven days later, the proposal was passed, confirming that WLFI would be able to trade.
The WLFI token, which was previously stated in the white paper as "possibly never transferable," is also about to be "unlocked." From the first round sale price of $0.015 to the second round at $0.05, participants have taken on the risk of "going to zero," and this risk is about to yield returns. The "Genius Act" and "U.S. Presidential Certification" have jointly boosted the current off-market price of WLFI to around $0.1.
Currently, with WLFI's launch imminent, the market is eagerly awaiting the moment the token unlocks to complete the loop from political narrative to asset realization.
Designers Behind WLFI
World Liberty Financial (WLFI) was established on September 16 last year, guided by real estate mogul Steve Witkoff and his son Zach, with co-founders including crypto KOL Chase Herro and Zak Folkman.
The Trump family also holds a significant position, with Trump listed as the "Chief Cryptocurrency Advocate," while his sons Eric, Donald Jr., and Barron serve as "Web3 Ambassadors."
Additionally, WLFI has three technical leaders:
Rich Teo: Head of Stablecoins and Payments, previously founded the exchange itBit and the stablecoin company Paxos, currently serving as CEO of Paxos Asia. Rich is also an advisor for the SocialFi project RepubliK.
Corey Caplan: Head of Technical Strategy, co-founder of the DeFi platform Dolomite, responsible for integrating lending and trading functions.
Bogdan Purnavel: Chief Developer, formerly a developer at Dough Finance.
One of the first initiatives of World Liberty Financial is to sell its own tokens, with an ICO starting on October 15, 2024, selling 20 billion $WLFI at a price of $0.015, raising approximately $300 million for the company.
On January 20, 2025, the day of Trump's inauguration, WLFI announced a second token sale, citing "huge demand and strong interest." Another 5 billion tokens were issued at a price of $0.05, a 230% increase from the first sale. The second sale was completed on March 14, nearly two months later, reaching a total target of $250 million.
According to WLFI's "Golden Book," WLFI tokens will grant holders voting rights on important matters affecting the protocol (such as upgrades). The expected token distribution is 35% through token sales, 32.5% for incentives and community development, 30% for "initial supporters," and 2.5% for the "core team and advisors."
The project white paper also states, "The issuance of $WLFI tokens raises funds to purchase mainstream project tokens with growth potential, and $WLFI token holders share in the profits from the appreciation of the asset portfolio." The project white paper clearly indicates that the $WLFI purchased by users is only a governance token, and $550 million already belongs to the project party.
However, the Trump family's multiple crypto layouts seem to "hint" that WLFI will not merely serve as a non-transferable token for "authentication."
What is the Valuation of WLFI Tokens?
According to pre-market data, the price of $WLFI hovered between $0.90 and $1.10 for several days after the official announcement of "hearing the community's voice, possibly unlocking token transfer," with an average daily trading volume exceeding $5 million. Currently, it remains around $0.8, demonstrating strong capital interest even before formal circulation.
Community opinions suggest that if the pre-market price is suppressed around $1, it is actually to avoid the risk of a price surge leading to a withdrawal rush once WLFI goes live—after all, if the price skyrockets above $5 post-launch, exchanges may need to repurchase tokens at high prices, putting significant financial pressure on the platform.
In horizontal comparison, the market generally views WLFI as a heavyweight project benchmarked against the TRUMP token. The latter surged to an $80 billion market cap shortly after its launch, while WLFI's current preliminary market cap forecast has already surpassed $30 billion, fully capable of expanding to a trillion-dollar valuation.
If we base the first round financing valuation at $1.5 billion (corresponding to $0.015 per token) and the second round valuation at $5 billion ($0.05 per token), the current off-market price reaching $1 means WLFI's valuation has increased over 65 times in the past eight months.
Riding the Stablecoin Wave
The Trump family is not limited to launching crypto projects; they are also leveraging this project to enter the stablecoin business.
USD1 is a fiat-collateralized stablecoin issued by World Liberty Financial, with each USD1 redeemable 1:1 for U.S. dollars. The reserve assets include cash in U.S. dollars and short-term U.S. Treasury bonds, held in custody by BitGo. The relationship between WLFI and USD1 is a typical DeFi product combination design: users holding WLFI can participate in governance and receive airdrop incentives for USD1, while USD1 provides liquidity and actual payment functionality for the platform ecosystem.
On-chain data shows that USD1's main stronghold is still primarily on Binance and related to BSC, with 97.83% of the issuance on the BSC chain, and USD1's trading volume also reflects this.
Aside from the standout Memecoin BUILDon (B) on BSC in May, which combined WLFI's prominent purchase support, the largest USD1 trading pair on-chain, and rapid listings on Binance Alpha and Binance contracts, its market cap once reached $450 million, attracting significant attention in a relatively "dry" on-chain market.
A month later, USD1's development on the BSC chain has been rapid, with several "WLFI" narrative tokens achieving good results, and meme tokens trading against USD1 gradually occupying the top trading volume positions on the BSC chain.
The top 10 trading volume rankings have gradually been taken over by USD1 from WBNB.
Further Reading: "USD1 Makes a Big Move, Price Increase Tells You Who the Hottest 'Trump Concept' Target Is?"
In addition, USD1 has also been used in financing for other projects. On June 18, WLFI officially announced that Sahara AI successfully completed an $8.5 million initial token offering (IDO) on the token issuance platform Buidlpad. This event saw a total subscription amount exceeding $74 million, surpassing the subscription target by 777%. USD1 contributed 79% of the total subscription amount ($59 million), while BNB contributed 21% ($16 million).
BSC is not only making strides in Memecoins and financing channels but is also starting to exert influence in DeFi. KOL 0xYond shared on Twitter that USD1's "politically correct" presence on DeFi platforms has led to numerous arbitrage opportunities, stating, "Excluding Binance's own hot wallet addresses, USD1's on-chain liquidity is actually less than $100 million. Subsidizing USD1 seems to serve asset growth, but in reality, it is a politically correct task."
The strong performance of Circle's stock indicates market favor for stablecoin businesses. If World Liberty Financial's valuation is similar to Circle's, then Trump's stablecoin project USD1 could currently be valued at as much as $1.7 billion.
Did Trump Cash Out on WLFI?
On June 19, Forbes reported that an analysis of the details on the World Liberty official website revealed that in the past 11 days, a company owned by Trump has reduced its stake in the crypto project World Liberty Financial from 60% to 40%.
This change was not publicly announced and is another sign that Trump himself or representatives acting on his behalf are still secretly conducting behind-the-scenes transactions during his tenure.
Public information shows that WLFI's token sale revenue has reached $57.355 million, making it the largest cryptocurrency-related income.
On June 26, WLFI co-founder Zak Folkman stated at the crypto industry conference "Permissionless" that the platform is receiving "strong interest" from several publicly listed companies that wish to use its WLFI token as a company reserve asset. Folkman also announced the launch of a new World Liberty Financial application.
Folkman stated, "We have a very close relationship with Michael Saylor, and we greatly appreciate everything he has done strategically and the way he promotes the idea of holding company reserves in cryptocurrency. Several publicly listed companies have expressed strong interest in using WLFI tokens as their company reserves."
Which Big Players Have Bought In?
According to a joint disclosure by Accountable.US and Bloomberg, among the top 50 addresses of WLFI, at least 14 users hold over 6.7 billion WLFI tokens (valued at approximately $335 million) through U.S.-restricted trading platforms, with the most notable holder being Justin Sun.
In November 2024, Justin Sun's TRON DAO became the largest independent investor in World Liberty Financial (WLFI), subscribing to up to 3 billion WLFI tokens for $30 million. According to insiders, the transaction price was far below the market's expected issuance price of $0.015 at the time, with the actual transaction price being $0.01, meaning Sun entered at a significant discount of about 66%. This price not only earned him early investment dividends but also established his core position in the WLFI project.
Subsequently, WLFI officially announced on November 27, 2024, that Justin Sun would join the project as an advisor; however, there was no introduction of Justin on the WLFI official website.
Aqua1 Fund
Recently, a fund has pushed Justin Sun out of the top position. On June 26, the Web3 native fund Aqua 1 announced a strategic purchase of $100 million worth of governance tokens WLFI from the Trump family's crypto project World Liberty Financial, aiming to participate in the governance of the decentralized finance platform and accelerate the construction of the blockchain financial ecosystem. According to on-chain information, Aqua1 Fund holds 800,000,000 WLFI tokens.
Additionally, Aqua 1 plans to establish Aqua Fund in the Middle East and co-incubate the RWA tokenization platform BlockRock with WLFI.
DWF Labs
In April 2025, Abu Dhabi-based crypto investment and market-making firm DWF Labs announced that it had invested $25 million in tokens issued by the Trump family-controlled crypto project World Liberty Financial (WLFI).
Mike Dudas
Mike Dudas, founder of 6th Man Ventures and The Block, purchased over $145,000 worth of WLFI tokens on the eve of Trump's inauguration on January 20, 2025, amounting to approximately 970,000 WLFI tokens.
Troy Murray
Troy Murray, a member of BarnBridge DAO, purchased about 666,000 WLFI tokens.
Sigil Fund (alias Fiskantes)
This fund based in Gibraltar, whose Chief Investment Officer goes by the alias "Fiskantes," spent 40 Ethereum (approximately $130,000) to purchase WLFI tokens, estimated to be around 400,000 WLFI based on the issuance price.
WLFI stands as one of the most "notable" experiments in the fusion of American political capital and Web3 financial structures. From a "non-tradable" governance token to an asset about to be unlocked. From "presidential ambassadors" to on-chain holdings, from stablecoin financing tools to international investment matching platforms, the significance behind WLFI may not just be the token itself, but rather a symbol, a pathway representing the entry of political and capital forces into cryptocurrency.
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