Ethereum

Republican

World

Liberty

Gary

Donald Trump’s crypto project World Liberty Financial will launch on Sept. 16, the former president and 2024 Republican presidential nominee announced.
In a Sept. 12 video <a data-ct-non-breakable="null" href="https://x.com/realDonaldTrump/status/1834311432982135015" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/realDonaldTrump/status/1834311432982135015">posted</a> on X, Trump said he would go live on the platform to launch the project, which will be controlled by his sons, Donald Trump Jr. and Eric Trump.
“We’re embracing the future with crypto and leaving the slow and outdated big banks behind,” he said.
<blockquote class="twitter-tweet">
 .<a href="https://twitter.com/worldlibertyfi?ref_src=twsrc%5Etfw">@WorldLibertyFi</a> <a href="https://t.co/rHEGQXl4jL">pic.twitter.com/rHEGQXl4jL</a>— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1834311432982135015?ref_src=twsrc%5Etfw">September 12, 2024</a>
</blockquote>
Trump has previously made several cryptic <a data-ct-non-breakable="null" href="https://x.com/realDonaldTrump/status/1829141447087648796" rel="null" target="null" text="null" title="null">posts</a> concerning World Liberty Financial, vaguely positioning it as a <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/defi-a-comprehensive-guide-to-decentralized-finance" rel="" target="_self" text="null" title="https://cointelegraph.com/learn/defi-a-comprehensive-guide-to-decentralized-finance">decentralized finance (DeFi)</a> platform for borrowing and lending.
A white paper reported that the project would allow users to store money in a digital wallet, offer a credit account system, borrow or lend cash to others, and use tokens to invest in assets like crypto.&nbsp;
A nontransferable governance token has also been mentioned as part of the platform.&nbsp;&nbsp;
Statements from <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-family-defi-project-ensure-us-dollar-dominance" rel="null" target="null" text="null" title="null">World Liberty Financial have also suggested</a> it wants to spread the use of US dollar-pegged stablecoins in DeFi.
Along with bullish comments about <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/stablecoins-101-what-are-crypto-stablecoins-and-how-do-they-work" rel="" target="_self" text="null" title="https://cointelegraph.com/learn/stablecoins-101-what-are-crypto-stablecoins-and-how-do-they-work">stablecoins</a>, the project has teased a partnership and collaboration with DeFi protocol Aave, possibly indicating World Liberty Financial will be built on the Ethereum blockchain.&nbsp;
Trump has <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-crypto-inflation-policies-regulation" rel="null" target="null" text="null" title="https://cointelegraph.com/news/trump-crypto-inflation-policies-regulation">secured strong support</a> within the crypto community since promising to <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/donald-trump-crypto-voters-us-election" rel="null" target="null" text="null" title="null">support the industry</a> if again elected president in November.
He has pledged clearer regulations and said he would fire Securities and Exchange Commission Chair Gary Gensler, who has undertaken enforcement actions against multiple large crypto firms.
Related:<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/kamala-harris-donald-trump-presidential-debate-crypto-poll" rel="null" target="null" text="null" title="null"> 6% want to hear Harris and Trump talk about crypto at debate — Poll</a>
Sentiment around World Liberty Financial has been mixed. Some question Trump’s decision to launch the project while also running for president, as the project is set to go live 50 days before the election. 
Nic Carter, a Trump supporter and partner at Castle Island Ventures, <a data-ct-non-breakable="null" href="https://www.politico.com/news/2024/09/06/trump-family-crypto-startup-00177566" rel="nofollow noopener" target="_blank" text="null" title="https://www.politico.com/news/2024/09/06/trump-family-crypto-startup-00177566">told</a> Politico on Sept. 6 that the project was a “huge mistake.”
“It looks like Trump’s inner circle is just cashing in on his recent embrace of crypto in a kind of naive way,” he said. “Frankly it looks like they’re burning a lot of the goodwill that’s been built with the industry so far.”
Those linked to the venture have faced an onslaught from hackers and scammers.
<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/lara-tiffany-trump-x-accounts-hacked-world-liberty-financial-crypto" rel="" target="_self" text="null" title="https://cointelegraph.com/news/lara-tiffany-trump-x-accounts-hacked-world-liberty-financial-crypto">Scammers also managed to hack</a> Donald Trump’s daughter-in-law Lara Trump and his daughter Tiffany Trump’s X accounts&nbsp;on Sept. 4, posting sham links claiming to be connected to World Liberty Financial.
<figure>
 <img alt="Trump to launch World Liberty Financial crypto platform on Sept. 16" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191e997-1604-7105-990d-091e264133f8">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/worldlibertyfi/status/1831137804815843704" rel="null" target="null" text="null" title="null">World Liberty Financial</a>
 </figcaption>
</figure>
On Aug. 30, the official World Liberty Financial Telegram group had to denounce a series of fake ads and giveaways attempting to profit from the hype around the project.&nbsp;
On Aug. 8, Eric Trump had to <a data-ct-non-breakable="null" href="https://x.com/EricTrump/status/1821606504061116542" rel="null" target="null" text="null" title="null">clarify</a> that a Restore the Republic (RTR) memecoin was not affiliated with World Liberty Financial after it <a data-ct-non-breakable="null" href="https://coinmarketcap.com/community/articles/66c44f4c5b06a82a89340c40/" rel="null" target="null" text="null" title="null">surged</a> $155 million within hours of its debut.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/simple-change-save-ethereum-roadmap-to-hell/" rel="null" target="null" text="null" title="null">Proposed change could save Ethereum from L2 ‘roadmap to hell’</a>

Trump to launch World Liberty Financial crypto platform on Sept. 16

Cointelegraph

Other articles published on Sep 13, 2024

XRP Holder In Korea Makes Payment With XRP. Here’s how

Top 3 Altcoins Every Ripple (XRP) Investor Should Consider in 2024

MicroStrategy Acquires Additional $1.11B Worth of Bitcoin

Pavel Durov Criticizes French Authorities Over Telegram Charges, Hints at Market Withdrawals

Polymarket Data: Tight Trump-Harris Race Shakes MAGA$MAGA, KAMA$KAMA Coins

Sonic Blockchain Targets $11T Unsecured Lending Market With Credit Scores for Digital Wallets

Join our free newsletter for daily crypto updates!