In response to ongoing challenges in the financial sector, former US President Donald Trump has announced the launch of his crypto project "World Liberty Financial". The project on the Ethereum blockchain promises new opportunities in the world of cryptocurrency lending and borrowing.
🌐 Basic information about the project
The World Liberty Financial project operates on the Ethereum blockchain technology and will offer users cryptocurrency lending and borrowing services. The difference from existing DeFi (decentralized financial services) applications is increased convenience and accessibility, as well as support for a special WLFI token.
💰 Financial details
According to plans, 62.66% of the total token supply will be distributed during the upcoming SEC-regulated sale. Part of the proceeds will go to the reserve fund, the rest will go to the founders and the project team. Another 17.33% of the funds will be used for community development and participation in the project's governance.
🗣️ Donald Trump's Position
The former president has been vocal in his support for his crypto project, claiming that his failure to be elected in November would result in serious consequences for American crypto players, who would be “going to hell” due to the “incredibly hostile” approach to regulating the crypto industry under current SEC Chairman Gary Gensler.
🇺🇸 To sum it up:
Trump continues to increase his presence and influence in the crypto sector. What is important to us is that Trump has gone beyond the standard "crypto=good" narrative. It's funny, but no matter what motives Trump actually has, there is a very strong narrative in the crypto community's minds: Trump is a bull, and he keeps adding fuel to the fire. Given the almost equal chances of the candidates for the US presidency, we need to prepare for wild (possibly record-breaking) volatility that will begin in the second half of October and will continue until the results are announced.
