Donald Trump supported decentralized finance protocol World Liberty Financial‘s token sale will go live on Tuesday morning, the former President said on Saturday.
What Happened: “This is YOUR chance to help shape the future of finance,” Trump wrote on social media platform X, formerly Twitter, about the upcoming token sale. The President also urged interested candidates to take part in the X Spaces event to be held on Monday regarding the token sale.
Don’t Miss:
- 1 in 4 Americans own a share of Bitcoin according to NASDAQ, how many people got started through this free crypto faucet?
- ‘Scrolling to UBI': Deloitte's #1 fastest-growing software company allows users to earn money on their phones – invest today with $1,000 for just $0.25/share
The World Liberty Financial’s website now shows a ticking timer until the start of the sale.
Trending: Dogecoin millionaires are increasing – investors with $1M+ in DOGE revealed!
Why It Matters: According to The Block’s report from last week, the project aims to raise $300 million from the initial sale. It will sell 20% of the token supply at a $1.5 billion fully diluted valuation, the report said, citing the roadmap shared with prospective investors.
The token called WLFI will serve as the platform’s governance token and will allow users to vote on its future development. However, the token will be non-transferable and non-yielding, differing from most crypto assets that can be traded or generate passive income.
Price Action: The broader crypto market responded positively to the news. Bitcoin BTC/USD saw a 0.34% increase over the last 24 hours, while Ethereum ETH/USD rose by 0.86%, and Dogecoin DOGE/USD gained 1.15%, according to data from Benzinga Pro.
Read More:
- This Adobe-backed AI marketing startup went from a $5 to $85 million valuation working with brands like L'Oréal, Hasbro, and Sweetgreen in just three years – here's how there's an opportunity to invest at $1,000 for only $0.50/share today.
- The global games market is projected to generate $272B by the end of the year — for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.
Image via Wikimedia Commons
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.