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The proposal, which launched voting on Wednesday, had more than 99% support from roughly five billion tokens at the time of publication.
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World Liberty Financial, the crypto company backed by US President Donald Trump and his sons, has opened a proposal for voting to make the platform’s governance token tradable.
As of Wednesday, a proposal to make the World Liberty Financial token (WLFI) tradable had received more than 99% support from users, with voting scheduled to end on July 16. If approved, the plan could unlock significant amounts of WLFI tokens, though it stated that “founders, team, and advisor tokens” — seemingly including those held by Trump and his family — would not be immediately available for trading.
“This would mark a major milestone in the development of the World Liberty Financial ecosystem and opens the door for broader community participation, access, and protocol development,” said the proposal.
The crypto business was launched in 2024 by Trump, his sons Barron, Donald Trump Jr. and Eric, and co-founders Chase Herro and Zak Folkman. World Liberty, as well as Trump’s other crypto ventures, have been at the center of controversies surrounding the president as he attempts to enact policies related to digital assets.
Related: Trump-backed World Liberty to release stablecoin audit, make WLFI transferable
According to reporting from Bloomberg, the president added at least $620 million to his personal portfolio in a matter of months due to his investments in the crypto industry, including through World Liberty. In June, Trump disclosed $57.4 million in income from the crypto business, personally holding 15.75 billion governance tokens.
However, the Trump family has reportedly been reducing its stake in World Liberty since December 2024, holding 40% of the company as of June. WLFI tokenholders had cast roughly five billion votes at the time of publication, with the majority favoring making the token tradable.
World Liberty stablecoin under scrutiny as US Congress considers legislation
Starting on Monday, Republican leadership in the US House of Representatives expects to address three crypto-related pieces of legislation. Among the bills is the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, which aims to regulate payment stablecoins in the US.
The GENIUS Act previously faced pushback from several Democratic lawmakers in the Senate over Trump’s connections to World Liberty and the company’s USD1 stablecoin. Eric Trump announced in May that an Abu Dhabi-based company would use the stablecoin to settle a $2 billion investment in Binance. The chamber later passed the bill after a second vote in June.
Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions
This article first appeared at Cointelegraph.com News
