Donald Trump today confirmed the WLFI token of his family’s DeFi project, World Liberty Financial, during a livestream on X Spaces. The team behind the project has announced that upcoming token sales will be limited to accredited investors and non-US persons.
“While we do not consider WLFI to be a security, given the regulatory uncertainty surrounding tokens in the US, we have decided to limit sales to those who qualify for exemptions under US federal securities laws,” the team said.
Designed solely as a governance token for the World Liberty Financial platform, WLFI provides holders with voting rights but no economic benefits such as dividends or profits. The tokens are also non-transferable.
The token allocation is as follows: 63% for the public, 17% for user rewards, and 20% for the team and advisors.
Despite substantial public allocation, restricting sales to accredited investors has drawn criticism for limiting participation, which goes against crypto’s original promise of open access.
During the livestream, former US President Donald Trump delivered a strong message about the SEC and its approach to crypto.
“Since the hostile SEC learned I was involved, they’ve been treating people much better,” Trump said.
Trump suggested that his association with the token and the crypto space has led to a more favorable stance from the SEC toward crypto projects. However, he warned that this soft approach could be temporary, stating:
“If we don’t win the elections, there will be a massive crackdown on crypto people. They will live in hell.”