Anthony Scaramucci, SkyBridge Capital’s managing partner, has criticized the recently launched DeFi token World Liberty Financial (WLFI).
Speaking at the Stellar Meridian conference in London, Scaramucci described the venture as “nonsense” and a clear “money scam.” According to Scaramucci, the project, alongside Trump’s Truth Social platform, is being used as a revenue source for the former president. He warned investors against participating in the project, accusing it of being a “transparent scam” meant to funnel funds into other uses.
What do you think about Trump's new crypto coin?
Is it a "full on scam"? $WLFI
Anthony Scaramucci shares DISTURBING take on Donald Trump's World Liberty Financial DeFi project: pic.twitter.com/STHAsRWmzl
— Altcoin Daily (@AltcoinDailyio) October 17, 2024
Scaramucci also raised doubts about whether this project would help Trump gain traction among crypto-focused voters. He argued that no serious Bitcoin maximalist would look at World Liberty Financial as a positive feature in Donald Trump’s campaign. His comments reflect growing concerns from various industry leaders about Trump’s approach to digital assets and blockchain technology.
However, according to Trump, the World Liberty Financial token sale presents a significant opportunity to “shape the future of finance.” He had a goal of raising $300 million by selling 20% of the token supply. The token has a fully diluted valuation of $1.5 billion.
Crypto Community Reaction to Presale
Prominent figures in cryptocurrency have also voiced their concerns about the latest crypto venture, which involves the presale of WLFI token sales. Among them was billionaire investor and entrepreneur Mark Cuban.
While Cuban refrained from a detailed critique, he expressed his disbelief. He wondered why the GOP candidate would pursue this move when he has prominent backers like Elon Musk supporting him financially.
According to Dogecoin founder Billy Markus, engaging in a token sale is the most unreasonable thing to do as someone seeking a U.S. presidency.
Why would he do it ? He has Elon writing him checks. What’s the point ?
— Mark Cuban (@mcuban) October 13, 2024
Likewise, Alex Miller, CEO of the Web3 platform Hiro, called the WLFI token sale an “obvious pump scheme.” Miller emphasized that the project risked setting back the credibility of the crypto community by years.
His concerns centered on the possibility that WLFI could harm the reputation of digital currencies. According to Miller, even if the project doesn’t result in an outright scam, it still reflects poorly on the industry as a whole.
Data from Lookonchain confirms that the WLFI token has already sold over 833 million tokens, generating $12.5 million in sales. With more than 10,000 users participating, the largest buyer, identified only as “0x2d24,” spent 351.3 Ethereum, equivalent to $903,000, to purchase 60.43 million WLFI tokens.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
