Donald Trump has revealed the official launch date for World Liberty Financial, his family’s new cryptocurrency project, signaling a deeper engagement with the crypto sector. The announcement was made on Thursday afternoon, with Trump inviting supporters to a live event on Twitter Spaces scheduled for September 16 at 8 p.m. ET.
.@WorldLibertyFi pic.twitter.com/rHEGQXl4jL
— Donald J. Trump (@realDonaldTrump) September 12, 2024
A report by Jason Shebnell for The Block stated that the project has been under development for the past few months, with the former U.S. president as well as his sons Trump Jr. and Eric Trump hinting at forthcoming initiatives in the crypto and decentralized finance (DeFi) arenas since August 6.
I have truly fallen in love with Crypto / DeFi. Stay tuned for a big announcement…@Trump @realDonaldTrump @DonaldJTrumpJr
— Eric Trump (@EricTrump) August 6, 2024
DJT: For too long, the average American has been squeezed by the big banks and financial elites. It's time we take a stand—together. #BeDefiant https://t.co/DuEtfRfrjt pic.twitter.com/txPz5FVSsK
— Donald Trump Jr. (@DonaldJTrumpJr) August 22, 2024
Per The Block’s report, further information emerged on September 3, when CoinDesk reported that World Liberty Financial will operate on the Aave platform within the Ethereum blockchain, focusing on a “credit account system” as outlined in an upcoming whitepaper.
In his reelection campaign, Trump has shifted his stance towards cryptocurrencies. Earlier this summer, he addressed the Bitcoin 2024 conference, where he committed to dismissing SEC Chair Gary Gensler if reelected and pledged to halt the U.S. government’s sale of its bitcoin holdings, totaling 213,000 BTC.
The Block also mentioned that Corey Caplan, co-founder of Dolomite, has been appointed as an advisor for World Liberty Financial, highlighting the project’s dedication to crypto expertise. Emphasizing security, the initiative is collaborating with prominent firms such as Zokyo, Fuzzland, PeckShield, and BlockSecTeam. A Telegram announcement from the project team stated that their code has been thoroughly reviewed by these security leaders, prioritizing user protection.
The Block reported on September 10 that Rep. Maxine Waters, the ranking Democrat on the House Financial Services Committee, has raised concerns about the project. Waters highlighted potential risks associated with DeFi, including vulnerabilities to hacks, scams, and conflicts of interest that could negatively impact consumers and investors. She specifically referenced World Liberty Financial in her remarks.
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