In a video posted on X (formerly Twitter) on Sept. 12, Trump announced that his sons, Donald Jr. and Eric, will oversee the project.
Trump said the platform is all about moving toward the future and leaving traditional banks in the dust. While Trump has hinted at this crypto platform in the past, this is the first time he’s provided more concrete details.
Trump unveils World Liberty Financial, a new crypto platform
World Liberty Financial is a decentralized finance (DeFi) platform that will allow users to borrow and lend money. Users will be able to store their cash in digital wallets and even use tokens to invest. It’s like having a bank, but instead of keeping your money in a brick-and-mortar building, it’s all online.
.@WorldLibertyFi pic.twitter.com/rHEGQXl4jL
— Donald J. Trump (@realDonaldTrump) September 12, 2024
One unique feature of the platform is a non-transferable governance token. This means that users can help make decisions about how the platform is run, but they can’t trade or sell this token. It’s more about having a voice in the system than making a quick buck.
World Liberty Financial has also expressed interest in promoting the use of stablecoins. Stablecoins are a type of cryptocurrency that’s tied to a real-world asset, like the U.S. dollar. It makes them less volatile than other cryptos. Trump and his team seem to believe that stablecoins are the key to the future of finance.
[1/7] 🚨 Rumors are flying, but here’s the real story behind World Liberty Financial (WLFI). We know the magnitude of what we’re building and its potential impact on both crypto and our country, especially with the upcoming elections. 🇺🇸
— WLFI (@worldlibertyfi) September 4, 2024
The project has teased a possible partnership with Aave, a popular DeFi protocol, which may indicate that World Liberty Financial will be built on the Ethereum blockchain, one of the most well-known networks for cryptocurrencies.
Trump’s entrance into the crypto world has gained a lot of attention, especially since he’s promised to support the industry if re-elected as president in November. His backing of crypto has struck a chord with many in the crypto community, who are excited to see where this new platform will lead.
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