Donald Trump and his sons have launched World Liberty Financial (WLF), aiming to raise $300 million through a new token sale. However, after just one day, only $12 million—4% of the total tokens—has been secured, raising eyebrows in the crypto community.

Industry insiders are wary, fearing Trump's involvement could further damage crypto’s already tarnished reputation. With a history of market crashes and frauds, the last thing this industry needs is another high-profile failure.

Concerns Over WLF’s Leadership

The leadership behind WLF raises serious red flags. Co-founders Chase Herro and Zachary Folkman have checkered pasts, including legal troubles for fraud and drug-related offenses. Their previous venture, Dough Finance, was hacked for $2 million, and their current token offers no real economic rights or tradable value.

With the platform’s website crashing on launch day, skepticism abounds. Trump's role seems limited to social media promotion, capitalizing on his platform rather than genuinely supporting the crypto movement.

Political Context

In a broader political landscape, Trump trails behind Kamala Harris in key polling, even as he seeks financial backing from Silicon Valley. Despite promises to end the “persecution” of crypto, his efforts appear to be falling short among key demographics, particularly Hispanic voters.

While Trump leads in crypto betting markets, his path to political success remains uncertain as he struggles to regain ground in crucial swing states.

As the crypto industry strives for recovery and regulation, the launch of WLF raises critical questions. Will Trump's venture bring much-needed attention, or will it deepen the industry’s troubles? Only time will tell.

Stay tuned!