Trump Family-Backed World Liberty Financial Token Crashes After Initial Rise On First Trading Day

The newly tradeable World Liberty Financial (WLFI) token derailed after the initial flourish on Monday.

WLFI Falters After Initial Burst

WLFI, the governance token of the Trump family-backed decentralized finance platform, began trading at $0.228 and rose to a high of $0.46 in the next half an hour, according to CoinMarketCap.

However, it retreated sharply during the day, dropping to roughly $0.24 as of this writing, reflecting a 46% decline from the highs. On an intraday basis, the token rose 7.9%.

Major cryptocurrency exchanges such as Coinbase and Binance listed the token on their platforms. The trading volume skyrocketed past $4 billion in the last 24 hours, making it the ninth-most traded cryptocurrency.

As of this writing, it has amassed …

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