Trump-aligned World Liberty Ethereum Token Launch: A Recap of the Events

World Liberty Financial's USD1 Stablecoin Makes a Splash

World Liberty Financial, a decentralized finance project co-founded by President Trump and several other notable figures, has made a significant splash in the cryptocurrency market with the launch of its dollar-pegged stablecoin, USD1.

Launched on Monday, the USD1 stablecoin has quickly risen to become the sixth largest stablecoin by market cap. On CoinGecko, WLFI, the token associated with the stablecoin, is the 30th largest cryptocurrency with a market cap of $7.6 billion. On CoinMarketCap, WLFI holds the 24th position with a market cap of $6.48 billion.

The WLFI token, which was originally sold as a non-transferable governance token, raised $550 million via two sets of sales. The debut of the WLFI token followed a July vote in which governance token holders decided to allow for the token to become transferable and tradable.

Early whitelisted buyers of the WLFI token have realized a gain of over 1,700%. The token is currently trading for around $0.265.

The launch of the WLFI stablecoin has not been without controversy, however. Some lawmakers have loudly criticized Trump's crypto ventures due to apparent conflicts of interest.

Predictors on the platform Myriad are debating the number of green hourly candles WLFI will have in its first 69 hours. Currently, Myriad users believe a downward trend is likely for WLFI, placing odds at 66% that there will be more red than green.

On the other hand, the liquidation of positions on WLFI has been significant. To date, $3.85 million worth of shorts have been liquidated, totaling $12.36 million in liquidations. Over $8.51 million worth of long positions on WLFI have been liquidated so far today.

President Trump has pocketed a handsome $57.3 million from the crypto venture, according to reports. One of the founders of the decentralized finance project World Liberty Financial is Donald Trump, along with his sons Eric, Donald Jr., and Barron, as well as Trump's special envoy Steve Witkoff and his sons.

Eric Trump wrote on X that World Liberty Financial is setting a new standard for financial freedom. The WLFI token began trading on Gate, Bybit, and Binance on Labor Day.

As the WLFI stablecoin and token continue to make waves in the cryptocurrency market, it will be interesting to see how they perform in the coming days and weeks.