Donald Trump’s World Liberty Financial Faces Challenges

Donald Trump’s World Liberty Financial has lowered its public sale target from $300 million after disappointing results since launching its WLFI token sale two weeks ago. The company revealed the new target for its public sale in a filing with the U.S. Securities and Exchange Commission (SEC).

Donald Trump’s World Liberty Financial Lowers Public Sale Target

In its SEC filing, World Liberty Financial said it now plans to sell up to $30 million in WLFI tokens in its public sale before the end of the presale period. That’s down 90% from its original target of $300 million when it launched its WLFI public sale two weeks ago.

The move could be due to disappointing results, as the company is still far from its $300 million target. The filing shows that the Donald Trump-backed company has only sold about $2.7 million worth of WLFI tokens, while it still has about $285.7 million in unsold tokens.

With a new target of $30 million, the company still has about $27.3 million in WLFI tokens to sell before the public sale ends. Meanwhile, according to a report by Fortune, World Liberty Financial is also planning to launch a stablecoin pegged to the US dollar. However, the company has not yet given a specific timeline for the stablecoin’s launch.

The stablecoin is likely to play a key role on the World Liberty Financial platform, which aims to provide decentralized lending and borrowing services using the Ethereum-based Aave DeFi protocol.

Former US President Vows to End Cryptocurrency War

In a post on the X platform, Donald Trump reaffirmed his pro-crypto stance and called on voters to join him in ending Kamala Harris’ “war on crypto” and ensuring that Bitcoin will be “made in America.” He also congratulated the Bitcoin community on the 16th anniversary of Satoshi Nakamoto’s release of the Bitcoin Whitepaper.

The crypto community has unanimously supported Donald Trump for his pro-crypto stance, hoping that the former president will win the upcoming November 5 election. A Trump victory would likely be positive for Bitcoin prices and the broader cryptocurrency market. According to the latest data from Polymarket, Donald Trump remains the leading candidate for the next president.

However, while the crypto community is banking on a Trump victory to push prices higher, BitMEX co-founder Arthur Hayes commented that BTC prices will still hit new highs regardless of who wins the election. He also said that Donald Trump’s pro-crypto stance is not really sincere.