As crypto project's website crashes, Trump's coin sale fails to meet early targets.

• The launch of former President Donald Trump's new crypto project on Tuesday was marred by issues with its token sales.
• The WLFI token can only be purchased through World Liberty's official website, which experienced numerous and prolonged outages throughout the day.
• The token is held by more than 4,300 unique wallet addresses, which is approximately 4% of the total number of registered buyers.

Donald Trump's new crypto project is off to a rough start.

On Tuesday, World Liberty Financial, aiming to become a crypto bank, began its token sale, with project co-founder Zachary Folkman stating that "more than 100,000 people" are on the whitelist to invest.

The website of WLF experienced frequent and prolonged outages during the morning and early afternoon, which limited the number of sales. According to Etherscan's blockchain data, only 4,300 unique wallet addresses held the token as of Tuesday afternoon, which is approximately 4% of the total number of people who registered.

The platform has sold less than 3% of the 20 billion tokens made available for public sale, with more than 532 million tokens sold at 15 cents per token.

During the day, the website displayed a message that read "Undergoing maintenance" multiple times.

WLF didn't immediately respond to a request for comment.

The glitchy launch of "The DeFiant Ones" project could negatively impact Trump's presidential campaign, which is only three weeks away from the election. Trump and his family have been promoting the project since August, emphasizing its connection to decentralized finance (DeFi).

The WLF proposal in a roadmap viewed by The Block states that the coin aims to raise $300 million at a $1.5 billion valuation during its initial sale. Folkman, who previously founded Date Hotter Girls and reportedly helped develop Dough Finance, has stated that 20% of WLF's tokens will be allocated to the founding team, which includes the Trump family.

WLFI, a digital coin, will be a Regulation D token that allows for capital raising without SEC registration, provided certain conditions are met, such as limiting the sale size and restricting it to accredited investors, defined as having a net worth over $1 million.

The WLF project aims to promote borrowing, lending, and investing in cryptocurrency, but no official white paper or business plan has been released. Users who invest in the project will have voting rights on the yet-to-be-launched WLF platform.

Last week, WLF initiated the procedure for obtaining approval from the Aave DeFi ecosystem for its crypto bank.

One of the most trusted crypto lending platforms in DeFi, Aave is an open-source platform.

— CNBC's Kaan Oguz and Jordan Smith contributed to this report.

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