Donald Trump

World

Liberty

Donald Trump Jr.

President Donald Trump

Former President Donald Trump’s crypto project, World Liberty Financial, is reportedly planning to issue its own stablecoin, according to Decrypt.
The stablecoin is expected to be pegged to the U.S. dollar <a href="https://decrypt.co/288636/trump-crypto-world-liberty-financial-stablecoin" target="_blank" rel="noopener noreferrer nofollow">to maintain</a> a steady value amid the cryptocurrency market’s volatility. Sources close to the project told Decrypt that World Liberty is still assessing how to safely structure the coin before its launch.
This new venture follows World Liberty’s recent $14 million initial token sale and <a href="https://crypto.news/trumps-wlfi-whitelists-100k-investors-adds-paxos-co-founder-rich-teo/" target="_blank" rel="noopener noreferrer nofollow">coincides with the appointment</a> of Paxos co-founder Rich Teo, who will oversee the project’s stablecoin development.&nbsp;
On October 9, <a href="https://crypto.news/make-finance-great-again-trumps-son-launches-platform-that-nobody-knows-about/" target="_blank" rel="noopener noreferrer nofollow">World Liberty Financial</a> revealed through a <a href="https://governance.aave.com/t/temp-check-world-liberty-financial-aave-v3-instance-on-ethereum-mainnet-proposal/19383" target="_blank" rel="noopener noreferrer nofollow">governance proposal</a> its intention to launch a service as an Aave V3 instance on the Ethereum (<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/ethereum/">ETH</a>) mainnet. The decentralized platform Aave (<a href="https://crypto.news/price/aave/" target="_blank" rel="noopener noreferrer nofollow">AAVE</a>) will serve as the backend for this initiative.&nbsp;
The proposal states that World Liberty Financial’s Aave V3 instance will aim to enhance <a href="https://crypto.news/tag/stablecoin/" target="_blank" rel="noopener noreferrer nofollow">stablecoin</a> liquidity for Ethereum and Wrapped Bitcoin (<a href="https://crypto.news/price/wrapped-bitcoin/" target="_blank" rel="noopener noreferrer nofollow">WBTC</a>), as well as contribute to the expansion of Aave’s user community.
The proposed stablecoin marks a strategic shift for Trump’s venture, which has already made headlines with plans for an Ethereum-based borrowing and lending platform.
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<h2 class="wp-block-heading" id="world-liberty-financial">World Liberty Financial&nbsp;</h2>
Former President Donald Trump <a href="https://crypto.news/experts-weigh-in-on-the-trumps-world-liberty-financial/" target="_blank" rel="noopener noreferrer nofollow">launched</a> World Liberty Financial on September 16, positioning it as a decentralized finance platform intended to empower users, with Eric Trump and Donald Trump Jr. serving as “Web3 Ambassadors.”
However, skepticism has emerged over the project’s legitimacy due to a governance token distribution that heavily favors insiders and links to individuals associated with a recent blockchain hack.
Despite <a href="https://x.com/worldlibertyfi/status/1831348474593357856?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1831348474593357856%7Ctwgr%5E8437c4dff512b2156927a418edeba4c96800b141%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcrypto.news%2Fexperts-weigh-in-on-the-trumps-world-liberty-financial%2F" target="_blank" rel="noopener noreferrer nofollow">bold statements</a> from World Liberty Financial’s social media, concerns about transparency and the project’s unfinished white paper continue to raise doubts among industry observers.
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Trump’s World Liberty eyes stablecoin launch: report

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