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Trump Launches World Liberty Financial: New Crypto Venture
Former President Donald Trump has revealed plans to launch his own cryptocurrency project, World Liberty Financial, on September 16.
He has emphasized a shift toward cryptocurrencies, claiming that they will allow users to bypass the traditional banking system. In a video shared on X, Trump stated that the initiative will be overseen by his two sons, Donald Jr. and Eric Trump.
World Liberty Financial appears to be positioned as a decentralized finance (DeFi) platform, facilitating borrowing and lending. According to a white paper associated with the project, the platform will offer features such as a digital wallet for storing funds, a credit account system, and a mechanism for users to lend or borrow cash.
The project also mentions the introduction of a non-transferable governance token.
While there is some enthusiasm within the crypto community, opinions on the timing and feasibility of the project are mixed. Critics have raised concerns about the launch of the crypto platform as Trump campaigns for re-election, as the launch date falls just 50 days before the election.
Nic Carter, a Trump supporter and venture capital partner, has described the effort as a “big mistake,” arguing that it risks damaging relationships within the crypto industry.
The platform aims to promote the use of US dollar-pegged stablecoins in the DeFi space. Trump has indicated a potential partnership with DeFi protocol Aave, suggesting that World Liberty Financial could operate on the Ethereum blockchain.
