A new cryptocurrency project promoted by Donald Trump and his family experienced significant challenges during its launch. The announced token sale for World Liberty Financial's WLFI token began at 12:40 UTC (8:40 a.m. ET) but was plagued by numerous website outages shortly thereafter.

Despite the challenges, approximately 344 million WLFI tokens were sold to roughly 3,000 unique wallets, which only accounted for 1.7% of the total 20 billion tokens available for public sale. The WLFI token is designed to be utilized within a decentralized finance (DeFi) framework, allowing users to engage in activities such as lending and liquidity provision.

Speaking on the technical issues, Sandy Peng, an advisor for WLFI, cited an unexpected surge in website traffic as the cause of every outage. Peng noted that their site recorded 72 million unique visits in the initial hour alone, forcing a transition to a different web hosting service.

According to the project's framework, Donald Trump is promoted as the 'chief crypto advocate', with his sons Eric and Donald Jr. identified as 'web3 ambassadors', and Barron serving as the 'DeFi visionary' within the World Liberty Financial entity. The individual token sales are limited to non-U.S. persons and accredited investors only, adhering to specific security regulations aimed at compliance with U.S. laws.