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World Liberty Financial, the cryptocurrency project endorsed by President-elect Donald Trump and three of his children, has a corresponding token, $WLFI, which has been advertised as a governance token. It's not.

This can be proven quite easily:

A token is not a governance token if one entity controls the majority of the circulating supply.
22.5 billion of these tokens were given to the Trump-affiliated firm DT Marks DEFI LLC.
2 billion of these tokens will be sold to the public.
Therefore, this token is not a governance token.

This is important for us to emphasize because it allows us to comfortably conclude that those marketing it as a governance token are ill-informed – or outright lying.

Elsewhere, this project has been marketed as a "DeFi" project. Here, it's important to remember that DeFi means 'Decentralized Finance,' and again, huge swaths of the token supply and 75% of the protocol revenue are being directed to one very centralized location – Trump's wallet.

This is all to say that many folks are openly lying about this project, and this will be important to remember about those in the industry who have chosen to participate in or endorse it. These folks are doing little to shake the industry reputation of misrepresentation and deception.