Trump family’s meme coin surges to $8.3 billion market cap

On September 1, Binance, Upbit, and Gate launched trading of WLFI, a cryptocurrency tied to the family of U.S. President Donald Trump. The token debuted at $0.30 and quickly reached a market capitalization of $8.3 billion.

Donald Trump Jr. hailed the launch, insisting WLFI ‘isn’t some meme coin, it’s the governance backbone of a real ecosystem changing how money moves.’ Eric Trump echoed the sentiment, calling it a ‘new standard for financial freedom; built on trust, speed, and U.S. values.’

The move sparked a political response from California Governor Gavin Newsom, a Democrat, who announced plans to issue his own satirical token—the Trump Corruption Coin. 

The politician said the coin, named after alleged scandals involving the Trump family, would be part of a broader ‘Campaign for Democracy,’ with proceeds directed toward redistricting efforts and civic engagement programs.

Meanwhile, cybersecurity experts warned of a new wave of attacks targeting WLFI holders. Hackers reportedly exploited a vulnerability linked to a recent Ethereum update, using phishing schemes to steal private wallet keys. Criminals then deployed ‘ delegate smart contracts’ that automatically drained victims’ funds to attacker-controlled addresses whenever deposits were made.

Crypto analysts have urged investors to exercise caution when trading the token.