By Olga Kharif
This Labor Day, while US markets are closed, crypto traders will have their first opportunity to buy and sell the tokens tied to a project endorsed by President Donald Trump and his family.
WLFI, a governance token issued by World Liberty Financial and originally designed for voting on ideas to improve the protocol, will begin trading on Sept. 1. Early investors, who don’t include founders like Donald Trump Jr. and Eric Trump, can sell no more than 20% of their holdings; the rest will remain non-tradable.
The market debut will serve as a crucial test of how high the Trump name can drive the value of the 100 billion tokens linked to a one-year-old project. At 30 cents — the price at which the token is offered in pre-market trading on some sites — its market capitalization would place it among the top-45 tokens. Some investors are holding out for it to vault into the top 20, which is likely to push more exchanges to offer it.
Dylan Bane, an analyst at Messari, calls the 20% sell limit “a standard float-management tactic.”
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