Donald Trump

World

Liberty

World Liberty Financial (worldlibertyfinancial.com)

Donald Trump ventured into the cryptocurrency world with a new project named World Liberty Financial (WLFI).&nbsp;
This ambitious initiative,&nbsp;<a style="text-decoration:none" href="https://x.com/worldlibertyfi/status/1835748701534404945">announced live on X</a> (formerly Twitter), aims to develop a crypto banking platform. The project is designed to enable users to borrow, lend, and invest in digital assets, according to a recent&nbsp;Decrypt report.&nbsp;
&nbsp;
Here’s a closer look at what World Liberty Financial is about and what it aims to achieve.
<h2 dir="ltr" id="span-span-world-liberty-financial-a-new-crypto-banking-platform-span-span">World Liberty Financial: A New Crypto Banking Platform</h2>
World Liberty Financial, endorsed by Donald Trump and his sons, will offer a range of financial services including borrowing, lending, and investing in cryptocurrencies.&nbsp;
&nbsp;
The core vision behind World Liberty Financial is to simplify and democratize access to digital financial services, making them more accessible to the general public.
<blockquote>
 “I think my children opened my eyes more than anything else. Crypto is one of those things we have to do,” Trump&nbsp;<a style="text-decoration:none" href="https://www.cnbc.com/2024/09/16/trump-crypto-world-liberty-financial.html">noted</a> at the end of his speech. “Whether we like it or not, we have to do it.”
</blockquote>
World Liberty Financial aims to stand out by focusing on simplicity and accessibility. Unlike existing decentralized finance (DeFi) platforms, which can be complex and technical, this project seeks to offer a more intuitive experience for users.&nbsp;
&nbsp;
The platform will be built on the Ethereum blockchain, which is known for its strong infrastructure and widespread adoption. This crypto platform differs from others by offering a non-transferable governance token
<h2 dir="ltr" id="span-span-the-governance-token-wlfi-span-span">The Governance Token: WLFI</h2>
A key feature of the World Liberty Financial project is its governance token, WLFI. According to the team, WLFI will be non-transferable and will not provide any economic rights to its holders.&nbsp;
&nbsp;
Instead, the token is designed for participants interested in governance rather than financial returns. This structure aims to attract individuals who are keen to have a say in the project’s direction without expecting direct economic benefits.
&nbsp;
The token distribution plan is as follows:
<ul>
 <li>63% of WLFI will be sold to the public.</li>
 <li>17% will be allocated for user rewards.</li>
 <li>20% will go to the project team.</li>
</ul>
The token will initially be available only to accredited investors under a Regulation D exemption from the Securities and Exchange Commission (SEC). This regulatory framework allows for capital raising without the need for formal registration, provided certain conditions are met.&nbsp;
&nbsp;
As such, WLFI’s initial sale will be restricted to investors who meet specific income or net worth criteria.
<h2 dir="ltr" id="span-span-concerns-and-criticisms-span-span">Concerns and Criticisms</h2>
The project has faced scrutiny, particularly regarding its token distribution. Earlier reports suggested that 70% of the tokens was reserved for founders and insiders, raising concerns about the project’s fairness and transparency.&nbsp;
&nbsp;
However, the official plan now includes a more balanced distribution, with a majority of tokens allocated to the public.
&nbsp;
Moreover, the project’s reliance on Regulation D for token sales limits its accessibility to a broader audience. This regulatory approach is designed to ensure compliance with U.S. securities laws but may restrict participation to high-net-worth individuals and accredited investors.

What Is Donald Trump’s New Crypto Project, World Liberty Financial?

Table of Contents

BSCN

Other articles published on Oct 2, 2024

Binance Introduces Exclusive Pre-Market Trading for Launchpool Tokens

Hedera Joins MiCA Crypto Alliance with Ripple and Aptos, Launches Asset Tokenization Studio

Analyst Highlights TAO Coin and 5 Altcoins as Top Performers!

Bitcoin price decline continues — How are pro BTC traders positioned?

Crypto Prices Fluctuate as Bitcoin Drops to $61,000

Russia will surveil cross-border crypto transfers while pushing CBDC development

Join our free newsletter for daily crypto updates!