- Donald Trump-Supported World Liberty Financial raises just 4% of its $20 billion token sale target on the first day, selling over 792.36 million tokens and raising nearly $11 million.
- The token sale started quietly at 12:40 UTC on Tuesday.
- The article provides details on the metadata and tags for the article, but no other substantive information.
World Liberty Financial, a project supported by former US President Donald Trump, has raised just 4% of its token sale target on the first day. The company is aiming to raise $20 billion but has only sold around $11 million worth of tokens so far.
Token Sale Details
The token sale started quietly at 12:40 UTC on Tuesday. Since then, just over 792 million tokens have been sold out of a target of 20 billion. The tokens are being sold to help raise funds for the project.
World Liberty Financial is a financial services company that aims to offer lending and insurance services globally using blockchain technology. It is not clear why the token sale has seen such low demand in the initial stages.
Trump’s Involvement
Donald Trump recorded a promotional video endorsing World Liberty Financial earlier this year. However, he does not have any formal role or investment in the project.
Trump said in the endorsement that he was optimistic the company would be “an incredible project” that could stimulate financial markets.
Criticism
Some crypto industry experts have raised doubts about World Liberty Financial’s claims and criticized Trump for his involvement.
They argue that launching a token sale aiming to raise $20 billion without regulatory approval is highly ambitious. There are also concerns about the lack of transparency around how the funds would be used.
Summary
The initial trading figures suggest World Liberty Financial faces significant challenges in reaching its fundraising goal. It remains to be seen if the token sale picks up pace in the coming days and weeks.
Trump’s video endorsement brought publicity to the project but his lack of formal involvement may limit investor confidence. The company will likely need to provide more details on its crypto lending and insurance plans to attract buyers for its tokens.
