US presidential candidate Donald Trump is set to launch a new decentralized finance (DeFi) project while running for office.
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The project, named World Liberty Financial, will be detailed tonight at midnight UTC on X (formerly Twitter). Trump and his sons will explain the initiative, which is expected to be a decentralized crypto lending platform where users can lock and leverage their assets, particularly using stablecoins globally.
The project will also introduce a token called WLFI, with a pre-sale aiming to raise 537 million dollars. There are indications of connections between World Liberty Financial and Dough Finance, another DeFi project that was hacked in July, resulting in the theft of 2.1 million dollars in crypto.
Notable figures in the crypto industry, such as Sandy Peng from Scroll and Luke Pearson from Polychain Capital, are on the advisory team. World Liberty Financial was first announced in August by Eric Trump and Donald Trump Jr., with Trump's youngest son Barron also involved in the project.
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