Trump-Backed World Liberty Financial Token Rallies 12%, Leaves Bitcoin, Ethereum Trailing In The Dust

Trump family-backed World Liberty Financial (WLFI) token outshone cryptocurrency market heavyweights Thursday with a double-digit rally.

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WLFI Sees High Demand

WLFI surged over 12% in the last 24 hours, while trading volume jumped 128%, indicating high liquidity and buying pressure.

In doing so, the token surpassed high-value tokens, such as Bitcoin BTC/USD and Ethereum ETH/USD, which were up 1.67% and 1.50%, respectively.

CZ’s Pardon Driving The Surge?

The spike comes after President Donald Trump pardoned Binance founder Changpeng “CZ” Zhao, who was convicted of violating U.S. anti-money laundering rules.

World Liberty Financial, a decentralized finance platform backed by the Trumps, has had links with Binance. Most notably, the World Liberty Financial USD (USD1) stablecoin was chosen to close Abu Dhabi investment firm MGX‘s $2 billion deal with Binance earlier this year.

But barring the occasional spikes, the token has had a rough journey since its trading debut last month.

WLFI’s Rough Ride Since Launch

The coin has fallen nearly 70% from its peak and over 54% since it began trading. The decline has wiped out over $3 billion in the coin’s market capitalization.

The Trump family owns about 22.5 billion WLFI tokens, according to the project's official website. At the current price, their stake was a little over $3 billion.

Price Action: At the time of writing, WLFI was exchanging hands at $0.1408, up 12.91% in the last 24 hours, according to data from Benzinga Pro.

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