On June 26, the Trump family's crypto project WLFI posted that, "The team has listened to the community's voice and is actively advancing the transferable function of the WLFI token. Related work is currently underway behind the scenes and a major announcement is coming soon." On July 10, WLFI officially launched a community voting campaign, and seven days later, the proposal was approved. WLFI will be officially confirmed to be tradable today.

The WLFI token, which originally stated in the whitepaper that it "may never be tradable," is about to be unlocked. From the first round price of $0.015 to the second round price of $0.05, participants took on the risk of "zeroing out," and this risk is about to bear fruit. The dual support of the "Genius Act" and the "Presidential Certification" has brought the current over-the-counter price of WLFI to around $0.1.

With WLFI about to go live, the market is eagerly awaiting the moment of token unlocking to complete the cycle from political narrative to asset realization.

WLFI's Designers

World Liberty Financial (WLFI) was established on September 16 of last year, guided by real estate tycoon Steve Witkoff and his son Zach, with co-founders including crypto KOL Chase Herro and Zak Folkman.

The Trump family also holds a prominent position, with Trump listed as the "Chief Cryptocurrency Advocate," while his sons Eric, Donald Jr., and Barron are "Web3 Ambassadors."

In addition, WLFI has three technical leads,

1. Rich Teo: Head of stablecoin and payments, who previously founded exchange itBit and stablecoin company Paxos, and currently serves as CEO of Paxos Asia. In addition, Rich is an advisor to the SocialFi project RepubliK.

2. Corey Caplan: Head of technical strategy, co-founder of DeFi platform Dolomite, responsible for integrating lending and trading functions.

3. Bogdan Purnavel: Chief Developer, previously a developer at Dough Finance.

One of World Liberty Financial's initial actions was to sell its own token. The ICO started on October 15, 2024, selling 2 billion $WLFI tokens at $0.015 each, generating approximately $300 million for the company.

On January 20, 2025, the day of Trump's inauguration, WLFI announced a second token sale, citing "huge demand and strong interest." It issued 500 million tokens at $0.05 each, a 230% increase from the first sale. The second sale was completed nearly two months later on March 14, achieving the full target of $250 million.

According to WLFI's "golden paper," the WLFI token will grant holders voting rights on important matters affecting the protocol (such as upgrades). The expected token distribution includes 35% through token sales, 32.5% for incentives and community development, 30% for "initial supporters," and 2.5% for the "core team and advisors."

The project whitepaper also states, "Issuing $WLFI tokens to raise funds to purchase mainstream project tokens with growth potential, and $WLFI token holders share the gains from the portfolio's appreciation." The whitepaper clearly states that users purchasing $WLFI are only buying governance tokens, and $550 million has already belonged to the project team.

However, the Trump family's repeated cryptocurrency initiatives seem to "indicate" that WLFI will not simply be an untransferable identity verification token.

What is the Valuation of WLFI Tokens?

According to pre-market data, the price of $WLFI remained in a range of $0.90 to $1.10 for several days after the official announcement of "listening to the community's voice and possibly unlocking token transfers," with daily trading volume exceeding $5 million. Even now, it still remains around $0.8, showing strong capital attention even before formal circulation.

According to community views, if the pre-market price is kept near $1, it is actually to avoid the risk of token withdrawal panic after WLFI goes live—because once the price surges above $5, exchanges may need to repurchase tokens at high prices, creating significant financial pressure on the platform.

From a horizontal comparison, the market generally views WLFI as a major project comparable to TRUMP tokens. The latter surged to a market cap of $80 billion at its launch, while the preliminary market cap forecast for WLFI has already exceeded $30 billion, fully capable of further expanding to a trillion-dollar market cap.

If we take the valuation from the first round of financing at $1.5 billion (corresponding to $0.015 per token), and the second round valuation at $5 billion (0.05 dollars per token) as a base, the current off-chain price has reached $1, meaning that WLFI's valuation has grown more than 65 times over the past 8 months.

Following the Stablecoin Trend

The Trump family not only launched a crypto project but also used this project to do stablecoin business.

USD1 is a fiat-collateralized stablecoin issued by World Liberty Financial, where each USD1 can be exchanged 1:1 for US dollars. The reserve assets include US dollar cash and US short-term Treasury bonds, managed by BitGo. The relationship between WLFI and USD1 is a typical DeFi product combination design: users holding WLFI can participate in governance and receive USD1 airdrop incentives, while USD1 provides liquidity foundation and actual payment functionality for the platform ecosystem.

From on-chain data, the main stronghold of USD1 is currently Binance and BSC-related. The on-chain issuance is 97.83% on the BSC chain, and the transaction volume of USD1 also

Except for May, the most eye-catching Memecoin on BSC, BUILDon (B), which supports WLFI token purchases, has the largest USD1 trading pair on the chain, and quickly went live on Binance Alpha and Binance Contracts, among multiple "topic" highlights, its market cap once reached $450 million. In a relatively "depleted" on-chain market, it indeed attracted a large amount of attention.

About a month later, USD1 developed rapidly on the BSC chain, and many "WLFI" narrative tokens achieved good results. Meme tokens with USD1 as the trading pair gradually occupied the top positions in BSC chain transaction volumes.

The top 10 transaction heat list has slowly been taken over by USD1 from WBNB

Further reading: USD1 makes a big move, the rise tells you who is the hottest "Trump concept" asset?

In addition, USD1 has been used in the financing of other projects. On June 18, WLFI official stated that Sahara AI successfully completed the $8.5 million initial token offering (IDO) of SAHARA tokens on the token issuing platform Buidlpad. The total committed subscription amount for this event exceeded $74 million, exceeding the subscription target by 777%. USD1 contributed 79% ($59 million) of the total subscription amount, and BNB contributed 21% ($16 million).

BSC not only made a big move in Memecoins and financing channels, but also began to exert efforts in DeFi. KOL 0xYond shared on Twitter that USD1's "political correctness" led to a lot of arbitrage opportunities, he said, "excluding Binance's own hot wallet address, the on-chain liquidity of USD1 is actually less than $100 million. However, subsidizing USD1 is a task that appears to serve asset growth, but is actually politically correct."

Circle's good stock performance indicates the market's favor for stablecoin business. If World Liberty Financial's valuation is similar to Circle, then Trump's stablecoin project USD1 may be worth up to $1.7 billion now.

Is Trump's WLFI Realizing Gains?

On June 19, according to Forbes, based on an analysis of the details on the official website of World Liberty, in the past 11 days, a company under Trump's umbrella has reduced its stake in the crypto project World Liberty Financial from 60% to 40%.

This change received no public promotion, indicating another sign that Trump himself or people acting on his behalf are still secretly conducting backroom deals during his tenure.

Public information shows that the revenue from WLFI token sales reached $57.355 million, making it the largest cryptocurrency-related income.

On June 26, Zak Folkman, co-founder of WLFI, stated at the "Permissionless" crypto industry conference that the platform is receiving "strong interest" from multiple listed companies, which hope to use the WLFI token as their corporate reserves. Folkman also announced the launch of a new World Liberty Financial application.

Folkman said, "We have a very close relationship with Michael Saylor, and we greatly appreciate everything he has done in terms of strategy, as well as the way he spreads the idea of holding company reserves in cryptocurrency form. Several listed companies have shown strong interest in using WLFI tokens as their corporate reserves."

Who Are the Big Holders?

According to Accountable.US and Bloomberg joint disclosure, among the top 50 addresses of WLFI, at least 14 users hold tokens through U.S.-restricted trading platforms, collectively holding over 6.7 billion WLFI tokens (worth about $335 million), and the most notable holder is Justin Sun.

In November 2024, TRON DAO, owned by Justin Sun, became the largest independent investor in World Liberty Financial (WLFI), investing $30 million to purchase 3 billion WLFI tokens. According to insiders, the transaction price was far below the market's expected price of $0.015 at that time, with an actual transaction price of $0.01, meaning that Sun Yu Chen entered at a discount of about 66%, winning early investment returns and establishing his core position in the WLFI project.

Subsequently, WLFI official announced on November 27, 2024, that Justin Sun joined the project as an advisor (Advisor), but there is no introduction of Justin on the WLFI official website.

Aqua1 Fund

But recently, a fund has pushed Sun's number one position down. On June 26, Web3-native fund Aqua 1 announced a strategic purchase of $100 million worth of Trump family's crypto project World Liberty Financial governance token WLFI, aiming to participate in the governance of this decentralized finance platform and accelerate the construction of the blockchain financial ecosystem. According to on-chain information, Aqua1 Fund holds 800 million WLFI tokens.

In addition, Aqua 1 plans to establish Aqua Fund in the Middle East and jointly incubate RWA tokenization platform BlockRock with WLFI.

DWF Labs

In April 2025, Abu Dhabi crypto investment and market-making institution DWF Labs announced that it had invested $25 million to purchase tokens issued by the Trump family-controlled crypto project World Liberty Financial (WLFI).

Mike Dudas

Mike Dudas, founder of 6th Man Ventures and The Block, purchased over $145,000 worth of WLFI tokens on the eve of Trump's inauguration on January 20, 2025. Approximately 970,000 WLFI tokens.

Troy Murray

Troy Murray, a member of BarnBridge DAO, purchased approximately 666,000 WLFI tokens.

Sigil Fund (alias Fiskantes)

This fund located in Gibraltar, whose chief investment officer, alias "Fiskantes," spent 40 Ethereum (about $130,000) to purchase WLFI tokens, which would equate to about 400,000 WLFI tokens based on the WLFI issue price.

As one of the most "famous" experiments combining American political capital and Web3 financial structures, WLFI has evolved from a non-tradable governance token to an asset that is about to be unlocked. From "presidential ambassadors" to on-chain holdings, from stablecoin financing tools to international investment platforms, the significance behind WLFI may not just be a token, but a symbol, a path, representing the entry of political and capital power into the cryptocurrency space.