Trump family’s World Liberty Financial has experienced a 7.8% rally in the last 24 hours, according to CoinGecko’s WLFI data. Despite the steep price rally in the daily charts, WLFI’s price is glowing red in the other time frames. The coin is down by 17.7% in the last week, 22.4% in the 14-day charts, and 38.3% over the previous month. Let’s discuss why WLFI’s price is up today, and what you should know before investing in the coin.
Why Is Trump Family’s WLFI Coin Rallying Today?
World Liberty Financial’s (WLFI) latest price upswing comes amid a market-wide rebound following Bitcoin’s (BTC) brief rise to the $80,000 price level. BTC’s rally, meanwhile, may have been fueled by rising ETF and ETP inflows. BTC’s upswing could have pushed WLFI’s price as well.
WLFI’s rally also comes after World Liberty Financial sold 5.9 billion coins to accredited private investors. The move comes after the company raised more than $550 million in two funding rounds, according to Bloomberg.
World Liberty Financial’s (WLFI) rally could also be due to the US potentially passing the Clarity Act later this month. Given President Trump’s support for the crypto space, and the passing of pro-crypto legislation, investor sentiment may have gone up.
Controversies And Risks
World Liberty Financial was recently sued by TRON (TRX) founder Justin Sun. Sun alleges that the company stripped him of this governance participation by taking away his vote. He claims that the company froze his coins and threatened to burn them. According to Sun, he has about $1 billion worth of WLFI coins in his wallet. World Liberty Financial co-founder and CEO Zachary Witkoff dismissed the claims, calling the allegations “meritless.”
Also Read: Donald Trump to Increase Tariffs on EU Cars and Trucks to 25%
World Liberty Financial has also come under the spotlight for its association with President Trump. Many believe that the First Family’s crypto dealings are unethical, and that the President has misused his position for personal gains.
Credit: Source link
