World Liberty Monetary (WLFI), a crypto enterprise affiliated with US President Donald Trump, introduced plans to distribute 8.4 million WLFI tokens, value roughly $1.2 million, to early members in its USD1 stablecoin loyalty program.
The airdrop will reward customers who joined the USD1 Factors Program, launched two months in the past to advertise adoption of World Liberty’s US greenback–backed stablecoin. Individuals earned factors by buying and selling USD1 pairs on associate exchanges and sustaining balances.
“The factors and eligibility for incomes factors and rewards and distribution particulars could fluctuate primarily based on every alternate’s guidelines,” the corporate mentioned in a Wednesday put up on X.
World Liberty added that the preliminary WLFI distribution will happen on six exchanges, together with Gate.io, KuCoin, LBank, HTX World, Flipster and MEXC, with eligibility and rewards decided individually by every platform.
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World Liberty to increase factors program
World Liberty mentioned the factors initiative will increase to incorporate new venues, decentralized finance integrations, and extra methods for customers to earn and redeem rewards. “That is solely the start,” the corporate wrote.
USD1, issued by World Liberty Monetary and custodied by BitGo, ranks because the sixth-largest stablecoin globally with a market cap of $2.94 billion, in keeping with knowledge from CoinMarketCap.
Earlier this 12 months, Eric Trump revealed that Abu Dhabi funding agency MGX will use USD1, the Trump-linked stablecoin issued by World Liberty Monetary, to settle its $2 billion funding in Binance, marking the primary institutional funding within the alternate.
WLFI is at present buying and selling at $0.14, down 0.5% over the previous 24 hours, knowledge from CoinMarketCap reveals. The token is down practically 70% from its all-time excessive of $0.46 registered in September.
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Trump’s crypto empire nets over $1 billion in income
Trump’s second time period has coincided with an enormous surge in his private fortune, fueled largely by the household’s cryptocurrency ventures. In keeping with a current Monetary Instances investigation, Trump’s crypto empire has generated greater than $1 billion in pre-tax income over the previous 12 months.
On the middle of this windfall is World Liberty Monetary. Trump disclosed $57.4 million in revenue from the agency in June. Nonetheless, the household’s stake surged to $5 billion after a current token unlock. The FT estimated they’ve earned $550 million from WLFI alone this 12 months.
The Trump household has additionally profited from its branded memecoins, Official Trump (TRUMP) and Official Melania Meme (MELANIA), incomes roughly $427 million mixed. Moreover, their USD1 stablecoin has introduced in $42 million in income since April.
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