Trump Family-Backed Business Votes on Making Governance Token Tradable
World Liberty Financial, a cryptocurrency company supported by former US President Donald Trump and his sons, has proposed making its governance token (WLFI) tradable. The proposal, which opened for voting on Wednesday, has received over 99% support from tokenholders. Voting concludes on July 16. If approved, this would increase WLFI token liquidity, though tokens held by the Trump family and other insiders would remain locked.
Implications for the World Liberty Financial Ecosystem
Approving this proposal would mark a significant step for World Liberty Financial, enabling greater community involvement and protocol development. Since its 2024 launch, the company has been controversial due to Trump’s crypto policies and investments. Reports show Trump holds 15.75 billion WLFI tokens and earned $57.4 million from the crypto business in June.
Regulatory Scrutiny and Legislative Developments
The US House of Representatives plans to review crypto-related legislation, including the GENIUS Act, which would regulate US payment stablecoins. Some Democratic lawmakers oppose the act because of Trump’s ties to World Liberty Financial and its USD1 stablecoin. Discussions intensified after an Abu Dhabi-based firm announced plans to use the stablecoin for a $2 billion Binance investment.
Key Facts
- The proposal to make WLFI tradable has over 99% tokenholder support
- Voting ends July 16
- Trump family holdings would remain locked if approved
- The GENIUS Act could affect stablecoin regulation
