Trump-Linked World Liberty to Distribute $1.2 Million in WLFI Tokens to Early USD1 Users

Trump-linked World Liberty to airdrop $1.2M of WLFI tokens to early USD1 users

World Liberty Financial (WLFI), a cryptocurrency venture associated with former US President Donald Trump, plans to airdrop 8.4 million WLFI tokens valued at around $1.2 million to early participants of its USD1 stablecoin loyalty program. The initiative aims to encourage the adoption of their dollar-backed stablecoin, USD1.

Key Takeaways

World Liberty Financial will distribute 8.4 million WLFI tokens worth $1.2 million to reward participants of its USD1 loyalty program.
Users can earn rewards by engaging with USD1 pairs on partnered exchanges.
The initial airdrop will occur on six exchanges, with eligibility based on specific platform rules.
The USD1 stablecoin ranks among the largest globally, with a market cap of $2.94 billion.
Trump's family crypto ventures have generated over $1 billion in profit recently.

Distribution of WLFI Tokens

World Liberty Financial (WLFI), which has connections to former President Donald Trump, plans to reward users of its USD1 stablecoin loyalty program with an airdrop of 8.4 million WLFI tokens, amounting to approximately $1.2 million. This initiative is directed at users who participated in the USD1 Points Program, which was launched two months ago to encourage the usage of World Liberty’s US dollar-backed stablecoin.

Participants in the program have been able to earn points through trading USD1 pairs on partner exchanges and by maintaining their account balances. In a post shared on X, the company mentioned that the requirements for earning points and receiving rewards might differ according to each exchange's guidelines.

WLFI announces airdrop to early USD1 users. Source: WLFI

World Liberty has announced that the first distribution of WLFI tokens will take place across six exchanges: Gate.io, KuCoin, LBank, HTX Global, Flipster, and MEXC. Eligibility for earning rewards will be based on the specific rules set by each platform.

Expansion Plans for the Points Program

World Liberty has indicated plans to broaden its points program, which will introduce new venues, integrate decentralized finance, and provide additional opportunities for users to earn and redeem rewards. The company stated, “This is only the beginning,” highlighting their commitment to expanding user engagement.

The USD1 stablecoin, developed by World Liberty Financial and managed by BitGo, is currently the sixth-largest stablecoin in the world, with a market cap of $2.94 billion, according to CoinMarketCap data.

Earlier this year, Eric Trump revealed that the Abu Dhabi investment firm MGX plans to utilize USD1 for settling a $2 billion investment in Binance, marking a significant institutional move into the exchange.

WLFI is currently trading at $0.14, reflecting a slight decline of 0.5% over the last 24 hours. The token has seen a significant drop of nearly 70% from its all-time high of $0.46 in September.

WLFI token down over 53% since its launch. Source: CoinMarketCap

Trump’s Profitable Cryptocurrency Ventures

Trump’s recent political term has been marked by a substantial boost in his wealth, largely driven by the family’s ventures in cryptocurrency. A report by the Financial Times revealed that Trump’s crypto operations have accrued over $1 billion in pre-tax profits over the past year.

World Liberty Financial stands out as a key contributor to this financial success. Trump reported an income of $57.4 million from the firm as of June. Furthermore, after a recent token unlock, the family’s stake has grown to $5 billion, with estimates suggesting they’ve earned $550 million from WLFI alone this year.

In addition, the Trump family has profited significantly from their branded memecoins, Official Trump and Official Melania Meme, which together generated approximately $427 million. Their USD1 stablecoin has also contributed $42 million in profits since April.

Magazine:__Bitcoin OG Kyle Chassé is one strike away from a YouTube permaban