The Trump family’s cryptocurrency venture World Liberty Financial has opened trading for its new digital currency, dubbed $WLFI, according to the company’s website.
“Big day – @WorldLibertyFi just launched the $WLFI token. This isn’t some meme coin, it’s the governance backbone of a real ecosystem changing how money moves,” Donald Trump Jr., President Trump’s eldest son and a co-founder of World Liberty Financial, said in a social media post on Monday.
Eric Trump, who also serves as co-founder of the venture, said in his own post on the social platform X that with the launch of the token, “we’re setting a new standard for financial freedom; built on trust, speed, and U.S. values.”
“This is a huge moment for the future of money!” he added.
Trading of the digital currency exploded on Monday, with roughly $1 billion in tokens trading hands within an hour, The Wall Street Journal reported, citing data site CoinMarketCap.
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The Trump family unveiled World Liberty Financial last year in the last few months of the president’s campaign, with the then-candidate coming out as a major proponent of the crypto industry.
World Liberty Financial announced in March that it brought in $550 million via two sets of token sales.
The Trump administration this year has issued a series of executive orders and regulatory shake-ups broadly heralded by the crypto industry, representing a major shift on digital currencies in Washington.
The cryptocurrency lobby has quickly expanded its presence on Capitol Hill in recent months, according to disclosures filed in July, as lawmakers took their first swing at legislation to regulate digital currency.