Trump family encryption project WLF faces storm
The Trump family’s crypto project World Liberty Financial (WLF) has attracted a lot of attention recently, but it’s not all praise! Not only did their $3 billion fundraising campaign fail to attract investment as expected, but they were also heavily criticized by industry insiders. Alexander Blume, CEO of Two Prime, said mercilessly, "Except for the Trump brand, there is nothing new about this project," showing the market's skepticism about it and considering it more like a speculative game.
Matt Hougan, Chief Investment Officer of Bitwise, also joined the criticism, pointing out that WLF looks like a meme masquerading as a utility and lacks actual DeFi application value. His words were a punch, driving home the fragile foundations of the project.
What is even more worrying is that according to the released "World Liberty Gold Paper", the Trump family will receive 75% of the net proceeds of the project without taking any responsibility, which has undoubtedly caused public dissatisfaction.
The fate of WLF is closely related to whether Trump can be elected president. If Trump gets his wish, the WLF token may shine; but if he fails, the token may face a fate of plummeting or even going to zero. What's more, WLF tokens are not transferable within one year, which undoubtedly increases the risk of investment.
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