Trump-Endorsed WLFI Token Raises $5M Despite Technical Issues

World Liberty Financial (WLFI), a new DeFi token endorsed by Donald Trump, launched with a strong start, raising $5 million in the first hour. However, the project has faced technical issues that disrupted its operations. These problems have sparked skepticism within the crypto community, especially given Trump’s absence from the launch and concerns about the timing of the project.

WLFI was initially accessible only to whitelisted investors, with a goal of raising $300 million in its first round. Despite the strong demand, the token launch faced significant operational difficulties. The website went down, and transaction data showed problems with continuing sales. These technical challenges, coupled with Trump’s lack of presence during the launch, raised concerns about the project’s future and its ability to deliver on its promises.

Crypto leaders have voiced doubts about the project’s technical direction and timing, particularly so close to the election. Manuel Ferrari, Co-Founder of Money On Chain, commented that many investors would be better off investing in Bitcoin rather than participating in Trump’s DeFi project.

Another issue was the limited sales access. The first round was open only to accredited investors, which the SEC defines as individuals with a net worth exceeding $1 million or an annual income of $200,000. Despite this exclusivity, World Liberty struggled to process these sales smoothly, raising further questions about the project’s preparedness.

As of now, World Liberty’s website remains down, but on-chain data indicates that staggered transactions are still being processed. It remains to be seen if these technical difficulties will continue to affect the project, but the strong demand for WLFI suggests that interest remains high, even as the crypto community approaches the project with caution.