Trump-backed World Liberty to release stablecoin audit, make WLFI transferable
World Liberty Financial, the crypto venture linked to US President Donald Trump, is preparing to release an audit of its stablecoin and hinted that its governance token, WLFI, may soon be transferable.
Speaking at the Permissionless conference in Brooklyn on Wednesday, co-founder Zak Folkman told Blockworks' Jason Yanowitz that the company's stablecoin had recently received its first attestation report from an accounting firm.
Folkman added that the attestation report will be published on the project's website 'within the next few days.' He also suggested a significant shift may be coming for WLFI, the project's governance token.
'I don't want to give away too much,' he said, 'but if you pay attention over the next couple of weeks, I think everyone… is going to be very, very happy.' WLFI currently grants voting rights, but they are nontransferable.
Folkman added that World Liberty plans to launch a new app aimed at making crypto easier to use for retail participants, a move that could broaden the platform's appeal ahead of the election cycle.
WLFI to become transferable
Confirming the news in a recent X post, World Liberty Financial said that its WLFI token may soon become transferable, following growing demand from its community.
'You asked to make $WLFI transferable — we heard you,' the project said, adding that the team is actively working behind the scenes to enable the change. The message concluded with a promise of 'big news coming soon.'
Still, the announcement received mixed reactions. While some expressed excitement about being able to acquire WLFI, others were skeptical.
'Translation: Team is trying to dump their supply,' X user Clemente wrote. 'Not just the team but retail investors and foreigners. American middle class will jump in finally to hold the bag as usual,' another user claimed. Trump earns big from crypto
Donald Trump has reported earning $57.4 million from World Liberty Financial. According to his 2025 financial disclosure filed with the Office of Government Ethics, Trump holds over 15 billion governance tokens in the project, which come with voting rights. The income comes from token sales.
World Liberty Financial has raised $550 million through two public token sales since its launch in September 2024. The platform focuses on DeFi services and dollar-pegged stablecoins, branding itself as a disruptor of traditional finance.
The project has attracted notable crypto investors, including Tron founder Justin Sun, who purchased $30 million worth of WLFI tokens, and Web3Port, which invested $10 million. Oddiyana Ventures also joined as a backer in early 2025.
Source: https://cointelegraph.com/news/trump-crypto-platform-wlfi-transferable-stablecoin-audit
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Today
3 hours ago
- Gulf Today
Trump cuts off US trade talks with Canada
US President Donald Trump abruptly cut off trade talks with Canada on Friday over its tax targeting US technology firms, saying that it was a 'blatant attack' and that he would set a new tariff rate on Canadian goods within the next week. The move plunges US-Canada relations back into chaos after a period of relative calm that included a cordial G7 meeting in mid-June where Trump and Canadian Prime Minister Mark Carney agreed to wrap up a new economic agreement within 30 days. It also came just hours after US Treasury Secretary Scott Bessent struck an upbeat tone on trade, touting progress had been made with China on reviving the flow of critical minerals for the US manufacturing sector and in other key tariff negotiations. The often-chaotic rollout of Trump's import levies since his return to office this year has frequently whipsawed financial markets, and have begun to weigh on consumer spending, the bedrock of the US economy. US stocks were briefly batted lower by his broadside against Canada, but the S&P 500 and Nasdaq managed to close out the week at record highs. Trump's action comes ahead of Canada's plans to begin collecting on Monday a previously enacted digital services tax on US technology firms, including Amazon, Meta, Alphabet's Google and Apple, among others. The tax is 3% of the digital services revenue a firm takes in from Canadian users above $20 million in a calendar year, and payments will be retroactive to 2022. Trump, in a post on his Truth Social media platform, called the tax 'a direct and blatant attack on our country' and said Canada was a 'very difficult country to TRADE with.' 'Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately,' Trump said. 'We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven-day period.' Speaking to reporters at the White House, Trump said that the negotiations with Canada would not resume 'until they straighten out their act,' adding that the US holds 'such power over Canada.' Canada is the second-largest US trading partner after Mexico, and the largest buyer of U.S exports. It bought $349.4 billion of US goods last year and exported $412.7 billion to the US, according to US Census Bureau data. Carney's office responded to Trump's announcement by saying: 'The Canadian government will continue to engage in these complex negotiations with the United States in the best interests of Canadian workers and businesses.' Bessent sought to downplay the U.S.-Canadian dispute in a CNBC interview, saying US Trade Representative Jamieson Greer would likely open a Section 301 probe into Canada's digital tax that would clear the way for tariff retaliation in the amount of harm to US firms, which he said was roughly $2 billion. The US has prepared similar retaliation against European countries that have imposed digital taxes. A USTR spokesperson did not immediately respond to a request for comment. 'WRAPPED UP BY labour DAY' Earlier on Friday, Bessent said the Trump administration's various trade deals with other countries could be done by the Sept. 1 labour Day holiday, citing talks with 18 top trade partners and another revision to a deal with China to reopen the flow of rare earth minerals and magnets. After a week where tariffs took a back seat to the US strike on Iran's nuclear facilities and the massive tax and spending bill in the US Congress, the Trump administration's trade negotiations have picked up. The United States sent a new proposal to the European Union on Thursday and India sent a delegation to Washington for more talks. 'So we have countries approaching us with very good deals,' Bessent said on Fox Business Network. 'We have 18 important trading partners.... If we can ink 10 or 12 of the important 18, there are another important 20 relationships, then I think we could have trade wrapped up by labour Day,' Bessent said. He did not mention any changes to a July 9 deadline for countries to reach deals with the United States or see tariffs spike higher, but Trump said at the White House that he could extend the tariff deadline or 'make it shorter.' Trump said that he would notify countries of their tariff rates within the next week and a half, adding: 'I'd like to just send letters out to everybody: Congratulations. You're paying 25%.' Reuters
Al Etihad
3 hours ago
- Al Etihad
G7 agrees to avoid higher taxes for US companies
28 June 2025 21:46 (Reuters) The United States and the Group of Seven nations have agreed to support a proposal that would exempt US companies from some components of an existing global agreement, the G7 said in a statement on group has created a 'side-by-side' system in response to the US administration agreeing to scrap the Section 899 retaliatory tax proposal from President Donald Trump's tax and spending bill, it said in a statement from Canada, the head of the rolling G7 G7 said the plan recognises existing US minimum tax laws and aims to bring more stability to the international tax system.G7 officials said that they look forward to discussing a solution that is "acceptable and implementable to all"In January, through an executive order, Trump declared that the global corporate minimum tax deal was not applicable in the US, effectively pulling out of the landmark 2021 arrangement negotiated by the Biden administration with nearly 140 had also vowed to impose a retaliatory tax against countries that impose taxes on US firms under the 2021 global tax agreement. This tax was considered detrimental to many foreign companies operating in the US.
Crypto Insight
4 hours ago
- Crypto Insight
Trump's World Liberty Financial signs partnership deal with London hedge fund
World Liberty Financial (WLFI), a crypto platform tied to US President Donald Trump's family, has partnered with London hedge fund Re7 to launch a USD1 stablecoin vault across Euler Finance and liquid staking protocol Lista. The partnership is part of a broader effort to expand the presence of World Liberty's USD1 stablecoin on the BNB Chain, according to Bloomberg. Lista is one of the major liquid staking platforms for the BNB token, and its decentralized autonomous organization (DAO), which governs the platform, is backed by Binance Labs — the venture capital arm of crypto exchange Binance. Binance Labs invested $10 million in Lista in August 2023. At the time, Lista was known as Helio Protocol and the capital was meant to aid the platform's transition to a liquid staking provider. WLFI continues to receive backing from institutional investors as US dollar stablecoins and real-world asset tokenization — the two sectors the DeFi platform is focused on — become strategically important to increasing the salability of the US dollar, a major priority of the Trump administration. WLFI attracts institutional capital In April, crypto market maker DWF Labs purchased $25 million in WLFI tokens, the governance token of the WLFI platform. The market maker will also provide liquidity for the USD1 stablecoin as part of the investment deal. Aqua1 Foundation, a digital asset fund, announced a $100 million investment in the Trump-affiliated DeFi platform, citing WLFI's focus on stablecoins and real-world asset tokenization as major use cases that would restructure global finance. Trump reported $57 million in income from WLFI to the US Office of Government Ethics in a June 13 disclosure filing, the bulk of which appears to have come from token sales. Despite the investment deals and windfall income, the Trump family reduced its stake in WLFI by 20% since 2024. Source:
