🚀 Showdown! Trump publicly supports his family's DeFi project! 🌐
Former US President Donald Trump has just announced big news that his family is about to launch a decentralized finance (DeFi) project called World Liberty Financial (WLFI).
The project will be officially unveiled on September 16 through a Twitter Spaces event, marking the Trump family's transition from traditional banking to blockchain technology.
In a video posted on his social media X, Trump expressed his enthusiasm for this new venture and invited everyone to the launch event. At the same time, his sons Donald Jr. and Eric Trump will be in charge of the project.
However, this DeFi project has attracted widespread attention and speculation in the financial and political circles since its debut on Trump's platform Truth Social last month. The project was originally called "The DeFiant Ones" and was later renamed WLFI.
It is worth noting that WLFI's website uses an anonymous privacy service, which has also caused some controversy. For example, Newsweek reported that this service was previously associated with Russian cybercriminals.
Although there have been no direct allegations of wrongdoing against WLFI, the use of this privacy service has raised questions about the transparency of the project and how it works.
Professor Jay Kesten of Florida State University College of Law said that although it is not uncommon to take privacy measures in the early stages of cryptocurrency launches, investors should be entitled to full and fair disclosure if cryptocurrencies are offered to the public.
There is speculation that the Trump family may benefit from this project. WLFI is reportedly valued at approximately $1.8 billion, and the Trump family may earn approximately $540 million by selling 30% of WLFI's shares.
In addition, there are rumors that WLFI may be a fork of the lending DeFi platform Aave and will likely operate on blockchain networks such as Ethereum or Polygon. Although the project party later came out to clarify, it had to face a lot of doubts from the crypto community!
💬 What do you think of the Trump family's new DeFi project? Will you attend and interact at the Twitter Spaces event on September 16? Do you think this project will succeed?
