NEW YORK CITY, New York: Donald Trump's latest venture into digital finance stumbled out of the gate, with the Trump-backed World Liberty Financial token sliding on its first day of trading.

The tokens, branded $WLFI, debuted above US$0.30 on September 1 before slipping about 12 percent to $0.246 by 1840 GMT, according to CoinGecko. That put their market capitalization just under $7 billion, ranking the coin as the world's 31st largest cryptocurrency.

World Liberty Financial — launched last year by the Trump family and its partners as a decentralized finance platform — has already generated about $500 million for the family, based on company disclosures, crypto analysis, and transaction data. The project also issues a stablecoin.

Trading began after token holders voted in July to make $WLFI tradable, giving early investors the chance to sell up to 20 percent of their stakes. The move allows exchanges to earn fees, attracts speculation, and opens the token to a broader pool of crypto investors.

Some of the biggest global exchanges, including Binance, OKX, and Bybit, have listed the coin.

Initially, $WLFI tokens sold to investors offered governance rights, such as voting on code changes, rather than being freely tradable. Investors have said their main attraction was the Trump name and expectations that his political clout would support the token's value.

The launch has not been free of controversy. Democratic lawmakers and ethics watchdogs have criticized the Trump family's crypto dealings, arguing they pose conflicts of interest as the president reshapes U.S. digital currency regulations.

The White House has dismissed those concerns, saying Trump's assets are in a trust managed by his children.