Massive Liquidations Hit Trump Family’s Crypto on Labor Day Launch

World Liberty Financial (WLF), a DeFi project co-founded by former President Donald Trump and his sons Donald Jr., Eric, and Barron, faced major liquidations on its Labor Day token launch, Anand Sinha reported for TheStreet.

WLF has already raised $550 million across two token offerings. (Photo: Nasdaq Exchange X)

Backed by Trump family allies including developer-turned-envoy Steven Witkoff and his sons Zach and Alex, WLF has already raised $550 million across two token offerings.

Its stablecoin, USD1, commands a market cap of more than $2 billion, according to DeFiLlama.

But critics see the launch as a cash grab. Popular trader @theionicXBT wrote on X: “Everyone else is just exit liquidity... If you’re not early, you’re food.” Analyst Kashif Raza warned retail traders that insiders are poised to dump tokens on newcomers, echoing the collapse of Trump and Melania’s earlier meme coins.