Trump Touts New Crypto Token Sale After Initial Sales Are a Dud

A token sale for World Liberty Financial was active earlier on Tuesday and raised about $9 million amid multiple website crashes, well below the $300 million fundraising target.

Former U.S. President Donald Trump promoted a new crypto project promoted by his family on Tuesday, after an initial token sale fell well short of its target.

A token sale for World Liberty Financial was active earlier on Tuesday and raised about $9 million amid multiple website crashes, well below the $300 million fundraising goal.

Trump's post came late in the U.S. day on Tuesday, several hours after the tokens were initially made available. Some $9 million of the tokens were sold as of press time, some 3% of the total tokens allocated to the public sale.

"Today's the day!" Trump said in an X announcement.

The WLFI tokens are used for governance on the platform, which will allow users to participate in decentralized finance (DeFi) activities like borrowing, lending, and creating liquidity pools.

The token sale website went live earlier on Tuesday and experienced numerous outages throughout the day.

As such, trackers for the WLFI token on its website did not show an immediate spike in purchase volume after Trump's X post - with over 540 million tokens already purchased by users before his endorsement.

Read more: Trump-Touted Crypto Website Crashes as Token Sale Goes Live, With Just 1.7% of Target Sold

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