Monumental Flop Of Donald Trump's Crypto!
The Trump family’s ambitious crypto project, World Liberty Financial (WLF), had a difficult and even chaotic start. With a grandiose setup, the team hoped to sell 20 billion WLFI tokens, but within just a few hours, the project turned into a disaster. The sales website experienced a series of failures, leaving potential investors frustrated, and sales stagnated at a meager 1.7% of the fundraising goal. For a project intended to redefine the DeFi sector, the reception was, to say the least, chilly.
Technical failures and sales target failure
The story seemed to start well with a launch planned at 12:40 UTC, but the reality quickly turned into a fiasco.
The WLFI website, supposed to be the main portal for crypto sales, could not handle the traffic flow. With 72 million unique visits in one hour, the site quickly crashed.
In an attempt to restore the platform, the team switched between several hosts, causing repeated interruptions. Such a technical failure for a project of this magnitude raises questions about the team’s preparation and ability to manage a crypto project of such scale.
As for sales, the results were far below expectations. Despite the aura of the Trump family and a bold promotional campaign, only 344 million WLFI tokens found takers in the first hours, barely reaching 1.7% of the target set.
This figure, almost laughable for such a campaign, highlights the apparent disinterest of investors in this DeFi governance project, despite its promises of innovations.
Thwarted ambitions: what does this crypto flop hide?
The WLFI token, supposed to give governance power to its holders, was the flagship of the DeFi platform of World Liberty Financial.
With the image of Donald Trump as the “chief defender of cryptos” and his sons as “Web3 ambassadors”, WLF wanted to use the Trump brand to attract investors.
Yet, this failed launch perhaps underscores the project’s overconfidence, as well as a clumsy attempt to capitalize on the Trump name without caring for solid technical foundations.
Critics were quick to come forward, mentioning a lack of preparation and marketing more based on celebrity than on real added value in the world of DeFi.
Although the site returned online intermittently, the initial failure risks leaving lasting scars on the project’s image. It is evident that WLF’s ambitions faced a much less flattering reality.
This fiasco is a lesson for future projects: notoriety does not guarantee success. In the crypto universe, credibility relies on solid foundations and reliable technology, much more than on famous names. Moreover, discover the secret hands that control 132 billion dollars in Bitcoin.
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Fasciné par le bitcoin depuis 2017, Evariste n'a cessé de se documenter sur le sujet. Si son premier intérêt s'est porté sur le trading, il essaie désormais activement d’appréhender toutes les avancées centrées sur les cryptomonnaies. En tant que rédacteur, il aspire à fournir en permanence un travail de haute qualité qui reflète l'état du secteur dans son ensemble.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.