Former President Donald Trump just revealed that World Liberty Financial (WLFI) will officially launch on September 16 during a livestream on X (formerly Twitter).
Trump shared the news on September 12 via a short video on social media, where he asserted:
“We are embracing the future with crypto and leaving behind the slow and outdated big banks.”
The Trump family, including Eric and Donald Trump Jr., have been deeply involved in the development of WLFI, playing key roles in the project's direction and strategy.
WLFI
WLFI aims to promote the use of USD-backed stablecoins, with a particular focus on preserving the role of the US dollar in global financial markets. The project has partnered with Aave to develop tools and infrastructure to promote stablecoin adoption across multiple industries.
WLFI’s core mission revolves around using stablecoins to ensure that the US dollar remains the dominant coin for international transactions and payments. In previous statements, the project has outlined its vision of countering foreign currencies that are gaining influence in the global market.
According to the project’s statements, stablecoins can help maintain the US dollar’s global financial leadership in the coming period. WLFI aims to provide an alternative to emerging cryptocurrencies from other countries by promoting the use of USD-pegged stablecoins.
Argumentative
WLFI plans to raise $540 million through a token sale, selling 30% of the project’s tokens, while 70% is said to have been allocated to insiders, leading to concerns about transparency and fairness.
Furthermore, on-chain analysts have discovered a connection between WLFI and Dough Finance, a DeFi protocol that was hacked earlier this year, adding another layer of controversy.
The Trump family's involvement in World Liberty Financial has also sparked political discussions, with questions about whether the project's focus is truly on DeFi innovation or more aimed at personal business interests.
Ethics experts have raised concerns about potential conflicts of interest, noting that while the venture may not violate existing laws, it could still pose risks to public trust and the credibility of the political process. Some have also pointed out that Trump’s promotion of his sons’ projects could complicate his political ambitions if he seeks re-election.
