The touted "future" of American finance from Donald Trump is not off to a great start, particularly as World Liberty Financial's website recently crashed after opening its first token sale to the public. More than two weeks after the platform first opened for registrations, the company announced that it is ready to sell its first token that will be used to govern the platform.
It was revealed by recent reports that the decentralized crypto platform has only managed to sell two percent of its total tokens made available for the public to purchase.
Trump's World Liberty Financial Crashed After First Token Sale
Donald Trump's World Liberty Financial launched its first tokens available for the public to buy last Tuesday, but this was not the reason it made headlines, as it was plagued with multiple instances of its website crashing amidst the event.
It was later revealed by WLFI advisor, Sandy Peng (via CoinDesk), that the reason behind these crashes was due to excessive traffic in the decentralized crypto platform, claiming that it saw around "72 million unique visits" in the first hour since the tokens were launched.
The website is back online for users looking to register or sign in to buy WLFI's first token which is currently ranked 2,811 out of 9,870 active cryptocurrencies listed via CoinMarketCap.
Only Two Percent of Tokens Sold on WLFI
The reports further revealed that World Liberty Financial was only able to sell around two percent of its 20 billion tokens that were made available for public sale since yesterday. According to World Liberty Financial, it is looking at a figure of more than 523 million tokens sold during its launch, but Etherscan revealed that only 5,317 unique wallet addresses held the token as of this Tuesday.
World Liberty Financial also recently released the platform's so-called "Gold Paper" which detailed what the platform is about, with the company focused on preserving the US dollar's status. It was also revealed on its gold paper that the company will not yet sell the tokens to US citizens as they have not yet registered it to "any US or other authority."
Donald Trump's World Liberty Financial
As Trump looked to reinforce more of his campaign, the presidential aspirant made a significant declaration that he is siding with the cryptocurrency industry and promised its growth should he get the highest power. The Republican presidential nominee also announced that he and his family are also working on a decentralized platform that will foster cryptocurrency in the future.
That platform was later announced as World Liberty Financial, a new crypto exchange that Trump's sons, Donald Trump Jr. and Eric Trump, will manage, and it saw its official opening last September 30. Massive claims were shared by the Trump family with World Liberty Financial including financial freedom for Americans, as well as fighting against the Big Banks that make processes hard for the public.
Much behind World Liberty Financial is still unknown as there are no clear explanations as to what it offers, with Trump only sharing massive claims about how it will help Americans in the future, and not sharing much about its specificities. The highly-anticipated launch of World Liberty Financial's first token is here, but users were met with multiple crashes on the website, and it is yet to make headway for its crypto token's sale.
