World Liberty Financial (WLFI), a new decentralized finance (DeFi) project of the family of former US President and Republican presidential candidate Donald Trump, released its latest statement on its official Twitter account, which will ensure the dominance of the US dollar and the large-scale adoption of US dollar stablecoins. The project may be built on the Ethereum blockchain.
In a statement on Thursday (September 4), the Trump family’s upcoming DeFi project WLFI claimed that its main goal is to promote “mass adoption of stablecoins and DeFi.”
“We hope that a stablecoin pegged to the United States will continue to serve as the world’s settlement layer for the next 100 years,” the official account reads.
“By spreading U.S.-pegged stablecoins around the world, we ensure that the dollar’s dominance continues, securing America’s financial leadership and influence on the global stage,” the WLFI team wrote.
There are growing concerns that the dollar could lose its dominance as the world's reserve currency and the currency used in international transactions and commodity trading.
At the same time, according to DefiLlama data, the market value of stablecoins excluding algorithmic stablecoins has experienced nearly 12 months of continuous growth and reached an all-time high of US$169 billion on September 5.
Calculated by market value, the top five stablecoins in the world are all stablecoins pegged to the US dollar.
In addition to its bullish comments about the stablecoin, the project also hinted at a partnership with DeFi protocol Aave, which could indicate that WLFI will be built on the Ethereum blockchain.
According to the WLFI team, the project is not just looking for “another hostile fork” because history shows “those don’t work.”
The project also claims to be actively working with "top security experts" who review its coding to help them adopt "best practices."
Trump has previously published several "cryptic" posts about WLFI, vaguely positioning it as a service that helps users bypass traditional banking and establish the United States as the world's "crypto capital."
So far, those associated with the WLFI project have faced attacks from hackers and scammers.
On August 8, Trump’s son Eric Trump had to clarify that a memecoin called RTR had no connection to the project after it surged by $155 million within hours of its debut amid rumors that it was part of WLFI.
On August 30, WLFI’s official Telegram group condemned a series of false advertisements and giveaways that attempted to profit from hyping the project.
On September 4, scammers also successfully hacked into the Twitter accounts of Lara Trump and Tiffany Trump from the Trump family and posted fake links claiming to be related to WLFI.
The Trump family and the WLFI team attach great importance to this issue. They issued warnings on their official social platforms, calling on investors to use official accounts as the main source of information.
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