A cryptocurrency platform co-founded by former US President Donald Trump made a lackluster debut on Tuesday, offering only a fraction of the digital tokens the start-up is finding buyers for.
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The Republican candidate for the US presidential election announced the launch of this platform, World Liberty Financial, in mid-September.
In addition to his sons, Donald Trump is associated with several entrepreneurs in the cryptocurrency space in this project.
World Liberty Financial on Tuesday sold tokens, digital identifiers that can be cryptocurrencies, but can also be used for other purposes, such as NFTs (digital property titles).
WLFI tokens, their acronym, give the right to participate in the governance of the platform and unlike traditional digital currency cannot be resold.
20 billion WLFI was offered for a unit value of 1.5 cents. So the total value is $300 million.
As of early Tuesday evening, several hours after the sale began, less than 3% of the tokens had found buyers.
More than 100,000 qualified investors have registered for the sale, platform officials said on Monday.
Some financial products are only available to qualified investors, especially participants who offer several guarantees in terms of their income.
Many observers attributed the low sales partly to technical problems. During the first hours, it is sometimes impossible to connect to the WLF site displaying an error message.
World Liberty Financial has issued a total of 100 billion tokens, of which 20 billion were offered on Tuesday. About 22.5 billion was granted to DT Marx Defy, a company affiliated with Donald Trump.
If the 20 billion tokens that went into circulation on Tuesday are kept, the total value of WLFI will reach 1.5 billion dollars.
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