The former and current President of the United States 🇺🇸, Donald Trump, announced the launch of a new cryptocurrency platform with the participation of his sons and some prominent businessmen 💼, but without disclosing many details 🤫.
In a two-hour live online event 📡, a platform was demonstrated that allows people to buy "official coins" that give them the ability to vote on the platform's decisions 🗳️, according to Agence France-Presse.
🌪️ Despite the recent assassination attempt targeting Trump at his golf course in Florida 🏌️♂️, the event went ahead as planned.
💼 The discussion mainly revolved around the platform called "World Liberty Financial" 🌐. This platform is based on a decentralized exchange system 🔄, which eliminates the need for a financial intermediary such as banks 🏦, and relies on "blockchain" technology 📊 that maintains a secure and tamper-proof record 🔐.
🎉 The platform will also allow users to lend or borrow cryptocurrencies directly between each other 🤝, a service already available on several platforms such as Aave 💸.
📢 Donald Trump Jr., the son of the former president, stated that this platform represents "the beginning of a financial revolution" 🔥 during a session broadcast by the "X" platform 🎥. Zachary Volkman and Chase Herro, the founders of the project, added that the platform will be based primarily on "stablecoins" 🔗, backed by the dollar 💵, which reduces their volatility and makes them more stable 📉.
👌 Thanks to these stablecoins, the World Liberty Financial platform will be attractive to people who want to try cryptocurrencies without the high risks 🚫💥.
🤝 On the other hand, the project's founders announced their intention to issue coins that give their owners the right to participate in managing the platform 📊, as 63% will be allocated to the public, 20% to the founding team, and the rest as rewards 🎁 for users. However, the specific timeline for launching the project 🕰️ has not yet been revealed.
🔙 It is worth noting that Trump had previously described cryptocurrencies as a "scam" 🚨 during his presidency, but he recently changed his position in favor of Bitcoin if he is re-elected in November 🗳️, in contrast to the position of current President Joe Biden who supports regulating the sector 📜.