Donald Trump’s entrance into decentralized finance with World Liberty Finance (WLFI) is off to a rocky start, with its token presale raising only $12 million, a mere 4% of its $300 million target. Despite Trump’s bold branding as the “Crypto President,” the WLFI token stumbled on the open market, plunging 20% within 24 hours. Investors are raising concerns as the token’s non-transferable status and indefinite lock have cast a shadow over the project’s viability.

To make matters worse, many in the crypto community are calling out WLFI’s questionable structure, with some believing it goes against core crypto principles. The token remains locked indefinitely, with no schedule for unlocking, leaving investors in limbo. Critics like Bitcoin maximalist Max Keiser are suggesting Trump may have failed the "Bitcoin IQ test," with others even accusing the project of a day-one rug pull by insiders, adding more fuel to the fire.

This launch comes at a time when Trump promised to remove crypto opponent Gary Gensler from his SEC chair role if re-elected. But, with WLFI’s underperformance and investor uncertainty, Trump's grand entrance into DeFi might be facing an uphill battle before it truly begins. Could this be a significant misstep for his crypto campaign? Only time will tell.