Donald Trump-themed cryptocurrencies surged as World Liberty Financial announced a new governance token.

Fight to MAGA (FIGHT) led the charge with a massive surge of over 150%, pushing its valuation to $10.3 million. TrumpCoin (DJT) also saw a strong rally, climbing 28% to reach $0.00032, its highest since Aug. 7, with daily trading volumes near $1 million. Meanwhile, MAGA (MAGA) rose by 18% over the past day, with a daily trading volume of $11.48 million.

All these gains helped push the total market cap of political-themed tokens past $481 million. Meanwhile, the community sentiment around the tokens had also turned bullish according to Coinmarketcap data.

These tokens rallied after Donald Trump’s crypto initiative, World Liberty Financial, announced its plans to release a governance token named WLFI.

WLFI has been advertised as a non-transferable governance token, allowing holders to propose and vote on platform-related matters. Approximately 63% of the total token supply is designated for public sale, with 17% for user rewards, and the remaining 20% for the team and advisors.

While the token’s launch date remains undisclosed, the project team has confirmed that sales will be limited to accredited investors.

Despite the rise on Sept. 17, political-themed tokens have been experiencing a downturn, with their total market cap now down to $481 million.

These tokens tend to gain prominence during election seasons, potentially losing much of their relevance after the elections conclude. Traders often refer to these as “event coins” because their prices are influenced as the date of the related event approaches.

However, in the short term, these coins could see further gains if Bitcoin (BTC) breaks past its previous high, as meme coins often thrive during Bitcoin’s bull runs. Factors that could drive Bitcoin’s price higher include possible cuts in Federal Reserve rates, a weakening US dollar, and a continuing stock market rally.

As of now, the token will be sold only to accredited investors under what is known as a Regulation D exemption from the Securities and Exchange Commission (SEC). Regulation D exemptions allow companies to raise capital without registering securities with the SEC, primarily by offering securities to accredited investors or in small, private offerings.

The launch of Donald Trump’s World Liberty Financial (WLF) platform is scheduled for today, but recent events have cast a shadow of uncertainty over the proceedings. An assassination attempt near Trump’s golf club has intensified security concerns, potentially affecting the planned livestream event from his Mar-a-Lago estate.

World Liberty Financial Awaits Debut Amid Trump Security Concerns

World Liberty Financial is on the brink of its highly anticipated launch, aiming to redefine the landscape of decentralized finance. The event is set to be broadcasted from Donald Trump’s Mar-a-Lago residence, merging significant political and technological narratives. 

However, the recent security scare involving a reported Trump assassination attempt near his golf property has escalated security measures and raised questions about the timing and safety of the launch. 

Despite these concerns, the Trump family, particularly sons Donald Jr. and Eric Trump, have been actively promoting World Liberty Financial. They claim that this new platform will harness blockchain technology to offer innovative financial services. 

Moreover, the initiative is set to bemore aligned with the ideals of liberty and independence from traditional banking systems. The emphasis on decentralization and user empowerment is central to the WLF’s proposition.

Most recently, World Liberty Financial has enhanced its advisory board by adding Sandy Peng, a co-founder of Scroll, an Ethereum L2 solution. Peng’s expertise will support the project’s launch on Ethereum and Aave, focusing on solutions tha transform traditional banking approaches. 

Cryptocurrency Promises and Political Implications

The introduction of World Liberty Financial coincides with Trump’s presidential campaign, where he has promised significant shifts in U.S. crypto policy. Trump has portrayed himself as a proponent of blockchain technology, suggesting that Bitcoin could be leveraged to manage the national debt.

With the U.S. election coming up, the political debate surrounding crypto has been on the rise. According to a CoinGape report, investors are confident that Bitcoin will hit $100,000, regardless of whether Donald Trump or Kamala Harris wins.

The security incident at Trump’s golf club has brought attention to the potential vulnerabilities of World Liberty Financial launch. Therefore, WLF is poised at a critical juncture, reflecting Donald Trump’s political ambitions and DeFi initiatives.

Additionally, analysis show Aave has increased 66% over 90 days, with its bullish momentum remaining strong following todays launch.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. His work includes notable contributions to Cryptopolitan and Coingape News Media, where he shares his insights on the latest developments in the cryptocurrency market. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.