UseTheBitcoin.com News Highlights: Trump-Backed WLFI Crypto Token Sale, Tesla Moves Bitcoin Stash, a16z-Backed Towns Officially Launches

Good Morning Crypto Enthusiasts! Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

Trump-Backed WLFI Crypto Token Sale

The token sale for Donald Trump-backed World Liberty Financial (WLFI) got off to a rocky start, with only 3.4% of its $300 million goal reached.

Today’s the day! @worldlibertyfi token sale is live. Get your $WLFI tokens now. Purchase $WLFI here: worldlibertyfinancial.com

— Donald J. Trump (@realDonaldTrump) 11:04 PM • Oct 15, 2024

The sale, which began on Oct. 15, offered 20 billion tokens priced at 1.5 cents each, but within 14 hours, only 687 million tokens worth around $10.3 million had been sold.

Trump’s token @worldlibertyfi started their presale, raised $5M and the site has been offline for like 2-3 hours apparently, didn’t prepare for the heavy load?

— Wazz (@WazzCrypto) 3:25 PM • Oct 15, 2024

The platform also experienced a website crash shortly after the sale launch due to overwhelming traffic, leaving many potential investors unable to access the site.

Despite boasting over 100,000 sign-ups prior to the sale, Etherscan data showed only 6,832 unique wallet holders.

? 1/5 We’re excited to announce that World Liberty Financial has officially posted our governance proposal to Aave’s forum to launch an Aave V3 instance on Ethereum Mainnet! ? Check it out here:

— WLFI (@worldlibertyfi) 9:44 PM • Oct 9, 2024

The WLFI tokens are not tradable but will serve as governance tokens for an Ethereum-based decentralized finance (DeFi) platform modeled after Aave.

Trump’s sons—Eric, Barron, and Donald Jr.—are listed as “Web3 Ambassadors” for the project, while Trump himself has embraced the role of “Chief Crypto Advocate.”

Tesla Moves Bitcoin Stash

Tesla has transferred its entire Bitcoin holding, worth over $765 million, to several unknown wallets.

The move, carried out on Oct. 15, involved 26 transactions, including initial test transfers, according to data from Arkham Intelligence.

Tesla’s Bitcoin wallet had been dormant since June 2022 before this sudden flurry of activity, but there’s no indication that the company plans to sell its holdings.

TESLA MOVING BITCOIN FOR THE FIRST TIME IN 2 YEARS

— Arkham (@ArkhamIntel) 9:07 PM • Oct 15, 2024

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