Important Developments Regarding Donald Trump's WLFI Altcoin: The Vote is Expected to Conclude

Investors in World Liberty Financial (WLFI), one of the cryptocurrency projects owned by the Donald Trump family, have voted to open token trading. This move, approved today, will allow the platform's tokens to be traded on exchanges, potentially significantly increasing the value of the assets held by the Trump family. World Liberty, a "decentralized finance" initiative (DeFi) initiated by the Trump family and associates last fall, has provided investors with a digital token named WLFI and a stablecoin. However, initially, these tokens could not be traded, and token holders only had the right to vote on changes, such as the underlying code structure of the platform. The biggest attraction for investors is the direct connection to the name of Trump. This connection has fueled expectations that the tokens will increase in value over time. Now, the ability to trade tokens on the open market may increase speculative interest and potentially generate trading fees for the cryptocurrency exchanges where they are listed. When the tokens can be traded, the asset value of the Trump family could increase. Although the exact number of tokens held by the family has not been disclosed, according to the project's launch document, Trump's company DT Marks DEFI LLC is expected to receive 22.5 billion of the 100 billion tokens. According to widely published financial reports, by the end of 2024, President Trump held 15.75 billion WLFI tokens. So far, the Trump family has earned about 500 million dollars through the World Liberty platform. However, this development also raises ethical questions. Democratic Senator Elizabeth Warren and Representative Maxine Waters wrote in a letter to the (SEC) that the financial interests of the Trump family in World Liberty create "unprecedented conflicts of interest." The letter states that these interests could influence the Trump administration's regulatory stance on the cryptocurrency sector. The U.S. Securities and Exchange Commission (SEC) has not yet classified the WLFI token as a security, which helps exempt it from strict oversight by regulators like stocks. The White House asserts that all of Trump's assets are held in a trust managed by his children and there are no conflicts of interest. However, the details of the trust fund structure have not yet been disclosed. The fact that President Trump appointed a sole beneficiary of this trust fund means that the hundreds of millions of dollars in cryptocurrency transactions made during his term could be used for personal purposes at any time. World Liberty has announced a proposal to open trading for the WLFI token on its website on July 9th. Of approximately 20,900 votes, 99.94% voted "yes". A spokesperson for World Liberty told Reuters that details on how to trade the token will be announced soon.