he cryptocurrency project World Liberty Financial has released an official statement, complete with family endorsement, about the release of a governance token called WLFI. The announcement was made during a live audio stream on X, where advisors and project leaders outlined the token's structure and distribution.
According to the project team, the WLFI will be a non-transferable governance token with no economic value for token holders. The team claimed their goal is to have a token dedicated to governance participation as opposed to speculative investing.
Regulation D Exemption
The WLFI will be offered exclusively to accredited investors via a Regulation D exemption from the Securities and Exchange Commission (SEC) for brokers and dealers who offer securities without having to register through the SEC.
An exemption is limited and allows a company to raise capital without registering securities. Registered offerings are only offered to accredited investors and/or offered in limited amounts in private offerings.
The project team indicated that 63% of the WLFI tokens will be offered for public sale, 17% will be reserved for user rewards, and 20% will go to the team. The team did not give a definitive date for launch during the over two-and-a-half-hour live stream, which reached 1.1 million listeners.
Endorsements from the Trump Family
During the livestream, members of the Trump family including former President Donald Trump and his sons Donald Trump Jr. and Eric Trump, came on to express their sentiments about the initiative and the crypto industry in general.
Donald Trump Jr. expressed his opinion that DeFi, the decentralized finance sector, is "what our founding father's intended for the country," as it brings fairness to the finance system. Eric Trump talked about the challenges he faced "looping Ethereum on Aave," which is a decentralized lending platform, and he expressed the need for crypto applications to be easier to use.
Former President Donald Trump joined the discussion too, saying that "Crypto's one of those things we have to do, whether we like it or not," although he did not explicitly mention the World Liberty Financial project during his time on the stream.
The World Liberty Financial project token launch announcement also generated a lot of betting activity on the Polymarket platform. A contract that inquired whether Trump would launch a coin before the election peaked at over 80% on the 'Yes' side when the live stream was occurring but had oscillated downward to only as low as 24% by the close of the stream.
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