Activity tagged "corruption"

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Proposal: Make $WLFI Token Tradable General Jul 4 1m WLFI_Team 1d Summary This proposal is presented to solicit community input and formally initiate the tradability of the token. 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. ⸻ Proposal Objectives • Make $WLFI transferable, thereby enabling broader community access to governance participation, whether through peer to peer transactions or secondary markets • Transition the WLFI ecosystem from closed to open participation • Enable greater token utility access • Begin the next phase of community ownership and engagement • Align long-term token incentives with protocol adoption and success ⸻ Early Supporter Unlocking • A portion of WLFI supply was sold to early supporters • A portion of these tokens will be eligible to be unlocked upon launch of tradability • The remainder of the tokens will be subject to a second vote by the community to determine the unlock and release schedule • Founders, team, and advisor tokens will not be unlocked initially and will be subject to a longer unlock schedule than early supporters to demonstrate long-term commitment and alignment with the success of the protocol • Timing and any eligibility requirements for unlock to be determined subsequently.
Why Now? Over the last year, WLFI has made significant progress across product development, ecosystem partnerships, and brand awareness. With strong demand from community members and partners, many community members have said that the timing is right to make WLFI tradable and initiate this next chapter in our collective journey. ⸻ Governance & Community Role Following the vote to make the token tradable, WLFI’s governance framework will enable more token holders to participate directly in protocol decisions. This includes voting on emissions, ecosystem incentives, and future treasury actions. This proposal is the first step in handing greater influence to the community. ⸻ Next Steps (If Approved) • Execute and enable transferability • Initiate distribution for eligible early supporters • Begin community governance with a second vote on remaining unlocks • Continue ecosystem expansion and partner integrations ⸻ Voting Options • YES: Proceed with WLFI tradability • NO: Maintain current token non-transferability and closed network status ⸻ Final Note This is a defining moment for World Liberty Financial. The foundation has been laid, the community is growing, and we’re ready to move forward. Launching WLFI as a tradable token brings us one step closer to building a more open, transparent, and powerful financial system. Let’s build it together. — The WLFI Team

The team behind Trump's World Liberty Financial project has proposed lifting restrictions on the WLFI "governance token" to make it tradeable. I predicted shortly after its launch that if Trump succeeded in gutting the SEC, he would do this.

This would lift the substantial restrictions on the token (non-US or accredited investors only, locked tokens with no secondary sales) that were aimed at sidestepping attention from the previous SEC, and could be enormously lucrative for Trump.

It could also be enormously lucrative for early buyers like Justin Sun or the Emirati Aqua 1 Foundation, who hold $75 million and $100 million worth of WLFI, respectively.

Prior to the Trump administration, a token like this would likely have been considered an unregistered security by the SEC, and its sales illegal offerings.

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Representative Raskin cited my analysis in his letter investigating Trump’s memecoin dinner

A close analysis of the top buyers on the “leaderboard” on the website of $TRUMP shows that a majority of the attendees appear to be foreign nationals who purchased the token through offshore cryptocurrency exchanges that prohibit U.S. customers from participating. 15 Analysis reveals that 161 of the 220 top buyers, or 73% of the invitees, are likely foreign nationals. Among the top 25 “VIP” guests who were offered additional private access to you, including a “VIP White House tour” 16—and who each spent between $1.25 million and $16 million on $TRUMP tokens—23 out of 25 are likely foreign individuals or entities.17 A majority of those on the guest list had never purchased a $TRUMP token prior to the announcement of the dinner, suggesting that the buyers were primarily drawn by the promise of direct access to you rather than intrinsic interest in the memecoin itself.18
14 Trump Meme, $TRUMP Leaderboard (May 5, 2025), https://trumpdinner.gettrumpmemes.com/leaderboard. 15 Molly White, Meet Trump’s Memecoin Dinner Guests, CITATION NEEDED: A NEWSLETTER BY MOLLY WHITE (May 7, 2025), https://www.citationneeded.news/trump-memecoin-dinner-guests/. 16 Olivia Rubin and Lucien Bruggeman, Trump's Top Meme Coin Investors Visit White House, ABC NEWS (May 23, 2025), https://abcnews.go.com/US/trumps-top-meme-coin-investors-invited-whitehouse/story?id=122128541. 17 Eric Lipton, The Trumps Get Richer, N.Y. TIMES (May 14, 2025), https://www.nytimes.com/2025/05/14/briefing/trump-family-business.html. 18 Molly White, Meet Trump’s Memecoin Dinner Guests, CITATION NEEDED: A NEWSLETTER BY MOLLY WHITE (May 7, 2025), https://www.citationneeded.news/trump-memecoin-dinner-guests/.
“House Democrat launches investigation of Trump's meme coin dinner”.
Cat Zakrzewski in The Washington Post.
Rep. Jamie Raskin of Maryland demanded that President Trump turn over the names of the guests at the White House dinner for top investors in his meme coin.
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“Lawmaker to Probe GSA for Preferential Treatment of Thiel-Backed Firm Ramp”.
Christopher Bing and Avi Asher-Shapiro in ProPublica. Published .
The probe comes in the wake of a ProPublica investigation that revealed the General Services Administration was eyeing a tech firm with strong ties to the Trump administration to remake a massive, $700 billion federal credit card program.
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A trader bought 6,000 $TRUMP on April 21, two days before the announcement that top holders would be invited to dinner with the president. They sold it a few hours after the announcement two days later caused the token price to go up, earning $33k on the trade. Impressive timing!

Solscan screenshot showing the trader purchased 6,041.52 TRUMP for $51,051.35 in USDT on April 21
Solscan screenshot showing the trader sold 6,041.52 TRUMP for $84,087.42 in USDT on April 21

They had traded the Trump token a bit for the first few days after it launched in January, then apparently lost interest until suddenly rediscovering it on April 21.

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At the moment they still hold 9,130 TRUMP, so as of now they’ll be joining Trump at the dinner in a few weeks.

They regularly transfer funds from Bybit, suggesting they are not based in the US.