President Trump’s Cryptocurrency Launch Experiences Dramatic Fluctuations
President Trump’s foray into the cryptocurrency market began with significant volatility. The flagship token from World Liberty Financial, known as WLFI, plummeted by 50% from its initial peak shortly after its launch on Monday. However, it still managed to maintain a market cap of $5.98 billion, ranking it as the 27th largest cryptocurrency currently available, as reported by CoinMarketCap. As of 5 p.m. ET on Tuesday, WLFI was trading at 23 cents after reaching a high of 46 cents shortly after its debut. Collectively, President Trump and his sons hold nearly 25% of WLFI’s total supply, representing a stake that is valued in the billions according to market estimates.
Major Cryptocurrency Exchanges Support WLFI Token
Prominent cryptocurrency exchanges such as Binance, OKX, and Bybit have begun offering WLFI tokens on their platforms. The token’s sharp price fluctuations coincided with Eric Trump’s attendance at a shareholder meeting in Tokyo for Metaplanet, a Japanese company focused on Bitcoin treasury management, where he has served as an advisor since March. During the meeting, he supported plans to issue 550 million new shares and acquire additional Bitcoin. Additionally, Trump shared a lighthearted moment on Instagram, posting a video of himself attempting to push a yokozuna, a top-ranked sumo wrestler, out of a ring. Despite his efforts, the yokozuna easily lifted Trump and carried him out, providing an amusing highlight to his trip.
World Liberty Financial Defends Its Business Practices Amid Controversy
Despite facing scrutiny regarding Trump’s simultaneous roles as both a president and a crypto entrepreneur, World Liberty Financial has maintained that it operates independently as a private business that does not engage in political matters. Trump humorously remarked on his sumo wrestling experience, stating, “Not every day you get invited to sumo the legend, Yokozuna! Almost had him! A great honor!” His visit to Japan is part of a larger initiative by the Trump family to promote their cryptocurrency endeavors, coinciding with Metaplanet’s Bitcoin assets exceeding $2 billion and its stock price surging nearly 760% over the past year.
Token Circulation and Investor Sentiment Show Positive Trends
Approximately 25% of WLFI’s total supply of 100 billion tokens is currently in circulation, allowing early investors to trade their holdings while the stakes of the Trump family and co-founders remain locked. There is a prevailing bullish sentiment among the community on CoinMarketCap, where 84% of nearly 25,000 voters anticipate further price increases, despite reports indicating that major holders are reducing their positions. The excitement surrounding WLFI is bolstered by its branding as the governance token for World Liberty Financial, which also issues a stablecoin pegged to the dollar, known as USD1. The volatility of WLFI can be attributed to a combination of speculative trading and the concentration of holdings among a small number of investors.
Financial Success and Asset Management
World Liberty Financial has reportedly raised around $500 million from the sale of its tokens, according to blockchain data and public disclosures, making it one of the family’s most valuable assets. In light of the ongoing controversies regarding Trump’s dual roles, the White House has reiterated that Trump’s assets are held in a trust managed by his children, asserting that there are no conflicts of interest arising from his involvement in the cryptocurrency market.
