Recent developments reveal that World Liberty Financial, a crypto entity linked to the Trump family, is set to distribute 8.4 million WLFI tokens via an airdrop to early users of its USD1 stablecoin rewards program. This move underscores the continued integration of celebrity-backed crypto ventures into mainstream markets, highlighting growing institutional interest and the expansion of DeFi initiatives.
World Liberty Financial, a crypto-focused venture linked to the Trump family, is preparing to distribute 8.4 million WLFI tokens, valued at around $1.2 million, as part of an airdrop targeting early adopters of its USD1 stablecoin loyalty program. The initiative aims to reward users who traded USD1 pairs on partnered exchanges and maintained stablecoin balances—an effort to bolster adoption amid a competitive market.
The airdrop will be rolled out across six key exchanges, including Gate.io, KuCoin, LBank, HTX Global, Flipster, and MEXC. Eligibility and rewards are determined by each platform’s specific rules, creating a tailored approach across different trading venues.
$WLFI announces an airdrop to early USD1 users! 🚀 Get ready for a massive distribution of tokens to our loyal community members. Stay tuned for more details! #WLFI #Airdrop #Crypto #DeFi
— World Liberty Financial (@worldlibertyfi) June 11, 2024
Expansion Plans for the Points Program
World Liberty has announced plans to expand its loyalty program by integrating new venues, including decentralized finance (DeFi) platforms, and creating more avenues for users to earn and redeem rewards. The company emphasized that this is just the beginning of their broader ecosystem development.
The USD1 stablecoin, issued and backed by real dollar reserves and custodied by BitGo, currently ranks as the sixth-largest stablecoin globally, boasting a market capitalization of $2.94 billion. Earlier this year, Eric Trump revealed that Abu Dhabi investment firm MGX would use USD1 to settle a $2 billion investment in Binance, marking the first institutional stake in the crypto exchange.
Market Performance and Financial Impact
Currently trading at approximately $0.14, WLFI has seen a slight decline of 0.5% over the past day. Nonetheless, it remains down nearly 70% from its early September peak of $0.46, reflecting typical volatility within the crypto markets.
Trump’s crypto ventures, notably those associated with World Liberty Financial, have significantly boosted his family’s wealth, with recent estimates indicating a profit exceeding $1 billion from crypto-related activities in the past year. The Financial Times reported that Trump disclosed $57.4 million earned from World Liberty in June, with his family’s holdings surging to a valuation of about $5 billion following recent token unlocks. The FT estimates they earned approximately $550 million from WLFI alone this year.
The Trump family has also profited from its branded memecoins, such as Official Trump (TRUMP) and Official Melania Meme (MELANIA), which collectively earned about $427 million. The US dollar-backed stablecoin USD1 has contributed roughly $42 million in profits since its launch in April.