Former President Trump’s new cryptocurrency project, World Liberty Financial, had a rough start with its token sale on Tuesday. The project’s website experienced regular and lengthy outages, leading to a limited number of sales. Despite over 100,000 people being on the investment list, less than 9% of registered individuals actually held the WLFI token. The project aimed to raise $300 million but had only sold around 770 million coins at 1.5 cents per coin, with less than 4% available for public sale.
The actual crypto bank connected to the token is not live yet, as it just began the approval process a week ago. Until voted on and cleared for launch, all the money raised will sit in the project’s account. Additionally, Trump’s related investments faced challenges on Tuesday, with shares of his social media platform, Truth Social, plunging nearly 10% after trading was briefly halted.
Despite these setbacks, Trump’s joint fund-raising committee reported raising more than $7.5 million in cryptocurrencies like Bitcoin and Ether, while other candidates, such as Kamala Harris, also received donations in cryptocurrency during the election cycle.
