World Liberty Financial, a cryptocurrency company supported by former US President Donald Trump and his sons, has opened voting on whether to allow trading of the WLFI token.
Voting Open for WLFI Token
As of Wednesday, a proposal to make the World Liberty Financial token (WLFI) tradable has received over 99% support from users, with voting concluding on July 16. If approved, this could unlock significant amounts of WLFI tokens, although it indicates that 'founders, team, and advisor tokens,' including those held by Trump and his family, would not be immediately available for trading.
Donald Trump’s Financial Investments
The crypto business was launched in 2024 by Trump, his sons Barron, Donald Trump Jr., and Eric, along with co-founders Chase Herro and Zak Folkman. According to Bloomberg reports, Trump has added at least $620 million to his personal portfolio in a matter of months due to his investments in the crypto industry. In June, he disclosed $57.4 million in income from the crypto business, personally holding 15.75 billion governance tokens.
US Legislation on Stablecoins
Starting Monday, Republican leadership in the US House of Representatives expects to address three crypto-related pieces of legislation. Among these is the GENIUS Act, aimed at regulating payment stablecoins in the US. The GENIUS Act previously faced pushback from several Democratic lawmakers due to Trump's connections to World Liberty and the company’s USD1 stablecoin.
The vote on the WLFI token and the movement towards new legislation on stablecoins highlight the current attention on cryptocurrencies and the active measures being taken in this area.
