World Liberty Financial (WLF), a decentralized finance (DeFi) project backed by the Trump family, has successfully sold 99.3% of its recently issued 5 billion WLFI tokens. 

The tokens went on sale on January 20, following a surge in demand after the initial public sale.

WLFI Token Achieves Major Milestone

According to the data on the project’s official website, World Liberty Financial has now sold a total of 24.97 billion WLFI tokens out of a 25 billion token supply allocated for public sale.

For context, the total supply of WLFI tokens is 100 billion, with an initial allocation of 20 billion tokens designated for the first public sale. This sale commenced on October 15, 2024, with the token priced at $0.015. Furthermore, the project restricted access to individuals who qualified through a whitelist.

The initial target for the WLFI token sale was set at $300 million. Nonetheless, weak demand in the early stages led to a drastic reduction of the presale target to $30 million.

Despite the initial setback, the tides shifted after Official Trump (TRUMP) and Melania Meme (MELANIA) meme coins were launched. This launch sparked renewed interest in World Liberty Financial, leading to a surge in demand for WLFI tokens.

By January 20, World Liberty Financial had completed its initial token sale, selling 20% of its total token supply. However, seeing the surge in demand, the project released an additional 5% of its token supply at a price of $0.05 per token.

“An additional 5% of our token supply is now available to purchase on our website. We appreciate the overwhelming support and look forward to welcoming so many new people to our community!” the project posted on X.

At the time of writing, only 34.6 million tokens of the 5 billion public sale allocation remain available. 

The WLFI token’s primary purpose is governance within the World Liberty Financial Protocol. It allows token holders to propose, discuss, and vote on key protocol decisions. This gives token owners an equal voice in shaping the platform’s development, ensuring fair and democratic changes to its ecosystem.

As an added measure, the tokens will remain non-transferable for the first 12 months post-launch. Moreover, any community-approved changes to this restriction will not take effect until the one-year period concludes.

The milestone comes shortly after World Liberty Financial announced a partnership with Sui (SUI). The aim of this collaboration is to explore opportunities in DeFi. It will also integrate Sui’s technology into WLFI’s token reserve, “Macro Strategy,” supporting leading DeFi projects.

Ethereum price started a recovery wave from the $1,750 zone. ETH is now consolidating and facing hurdles near the $1,920 resistance.

• Ethereum started a recovery wave above the $1,850 level.
• The price is trading below $1,950 and the 100-hourly Simple Moving Average.
• There is a short-term bearish trend line forming with resistance at $1,920 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair must clear the $1,920 and $1,950 resistance levels to start a decent increase.

Ethereum Price Faces Hurdles

Ethereum price formed a base above the $1,750 level and started a recovery wave, like Bitcoin. ETH was able to clear the $1,800 and $1,820 resistance levels.

The bulls pushed the price above the $1,880 level. There was a move above the 23.6% Fib retracement level of the downward wave from the $2,150 swing high to the $1,752 low. However, the bears seem to be active near the $1,920 resistance zone.

Ethereum price is now trading below $1,950 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $1,920 level.

There is also a short-term bearish trend line forming with resistance at $1,920 on the hourly chart of ETH/USD. The next key resistance is near the $1,950 level or the 50% Fib retracement level of the downward wave from the $2,150 swing high to the $1,752 low.

The first major resistance is near the $2,000 level. A clear move above the $2,000 resistance might send the price toward the $2,060 resistance. An upside break above the $2,060 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,120 resistance zone or even $2,250 in the near term.

Another Decline In ETH?

If Ethereum fails to clear the $1,920 resistance, it could start another decline. Initial support on the downside is near the $1,850 level. The first major support sits near the $1,800 zone.

A clear move below the $1,800 support might push the price toward the $1,750 support. Any more losses might send the price toward the $1,720 support level in the near term. The next key support sits at $1,650.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 zone.

Major Support Level – $1,800

Major Resistance Level – $1,920

The LIBRA meme coin scandal, which sent shockwaves through Argentina’s political and financial spaces, has entered a new phase. Argentine lawyer Gregorio Dalbón has formally requested an international arrest warrant for Hayden Davis, the alleged key figure behind the token’s collapse.

Meanwhile, the Libra price remains steeply declining amid frothing FUD (fear, uncertainty, and doubt), with the broader bearish market outlook exacerbating the losses.

Argentine Lawyer Pursues Legal and Financial Fallout in Libra Scandal

Dalbón, who also represented former Argentine President Cristina Fernández de Kirchner in a corruption case, filed the petition on Tuesday. Local media Página12 reported that other legal experts in the case include lead prosecutor Eduardo Taiano and Judge María Servini.

The request seeks an Interpol Red Notice for Davis. It urges law enforcement worldwide to locate and provisionally arrest him pending extradition from the US. Dalbón’s petition argues that Davis poses a significant flight risk due to his financial resources and foreign residence.

“Given the magnitude of the scandal and the significant losses caused to investors, the procedural risk implied by Hayden Mark Davis remaining free is evident,” Argentina local media Perfil wrote, citing the petition.

Dalbón also contends that Davis played a “central role in creating and promoting LIBRA.” He says this reinforces allegations that the token’s launch and subsequent collapse were orchestrated for insider profit.

The push comes as this scandal deeply implicated President Javier Milei’s administration. This worsened after he publicly promoted the LIBRA token shortly before its catastrophic price crash. The case has sparked major controversy in Argentina, with authorities already moving to freeze approximately $100 million in crypto linked to the scheme earlier this month.

LIBRA Insiders Profited While Investors Lost Millions

Blockchain analysis firm Nansen recently reported that retail investors suffered staggering losses of $251 million. Meanwhile, wallets associated with Davis and another key figure, Kelsier, extracted significant profits before the token’s collapse.

Blockchain investigator Bubblemaps also uncovered evidence of market manipulation. It cited tactics such as “sniping” – using bots to buy tokens early and control liquidity.

Davis admitted to these tactics, claiming they were designed to prevent an immediate collapse and reinvest liquidity once President Milei resumed promoting the token. However, this strategy failed, leaving retail investors with heavy losses while insiders suffered substantial gains.

Further investigations linked the LIBRA meme coin team to other controversial crypto projects. Reports indicate connections between LIBRA insiders and MELANIA. The LIBRA team reportedly discussed launching a similar token with the Nigerian government, raising concerns about repeated exploitative crypto ventures across multiple countries.

The ripple effects of the scandal have also led to significant shake-ups in the crypto industry. Ben Chow, co-founder of the decentralized finance platform Meteora, recently resigned amid the controversy. This highlights the broader impact of the LIBRA debacle on the crypto ecosystem.

If Dalbón’s request for a Red Notice is approved, Interpol will distribute it to its 195 member countries. While a Red Notice does not mandate arrests, it signals to law enforcement agencies worldwide that Davis is wanted for extradition.

Data on CoinGecko shows that the LIBRA meme coin was trading for $0.06435 as of this writing, down over 12% in the past 24 hours.