U.S. presidential candidate Donald Trump stated that cryptocurrency would help him restore America to its former greatness. To achieve this goal, he intends to collaborate with World Liberty Financial (WLFI), a decentralized crypto project on the Ethereum platform.
Trump announced in a post on X (formerly Twitter) that WLFI would be a key element in his campaign to revive America. However, the crypto community has received the project with skepticism, suggesting it could be just another scam.
What is World Liberty Financial?
World Liberty Financial (WLFI) is a decentralized finance (DeFi) project launched on September 16, 2024. Its goal is to provide Americans with equal access to financial tools through a lending service, which will be managed by Trump's son, Barron Trump. Donald Trump himself actively supports the project.
WLFI has its own native token, which grants holders the right to participate in voting. However, WLFI tokens will not be freely traded, raising additional concerns within the crypto community.
Reaction of the Crypto Community
Despite Donald Trump's endorsement, the crypto community has responded coldly to the project. Experts point out that World Liberty Financialâs ideas are not innovative, and the project team has been reluctant to reveal further details. Nevertheless, the project continues, and Trump has not distanced himself from it.
Trumpâs Promises about World Liberty Financial
The launch of a crypto project tied to Trump seems like a logical step, given his interest in engaging the crypto community in his presidential campaign. Trump has promised to transform the U.S. into a crypto capital, and WLFI will be the tool to achieve this goal.
Mixed Reactions
Trumpâs announcement has sparked mixed reactions within the crypto community. Some believe his son's project is merely a means for the Trump family to enrich themselves, and that the former president is using the crypto community for his own agenda. Critics also recall Trump's past negative remarks about cryptocurrency, which cast doubt on his genuine support for the industry. In their opinion, backing Bitcoin would have been the right move, while support for a questionable DeFi project could mark yet another chapter in crypto scam history.
