Trump Launches World Liberty Financial: A New Crypto Venture
Crypto News

Trump Launches World Liberty Financial: A New Crypto Venture

2ในการอ่าน
1 month ago

Former President Donald Trump has revealed plans to launch his cryptocurrency project, World Liberty Financial, on September 16.

Trump Launches World Liberty Financial: A New Crypto Venture

Former President Donald Trump has revealed plans to launch his cryptocurrency project, World Liberty Financial, on September 16.

He emphasized a shift towards cryptocurrency, claiming that it would allow users to bypass traditional banking systems. In a video shared on X, Trump stated that the initiative will be overseen by his sons, Donald Jr. and Eric Trump.

View post on Twitter

World Liberty Financial appears to be positioned as a decentralized finance (DeFi) platform, facilitating borrowing and lending. According to a white paper associated with the project, it will offer features such as digital wallets for storing funds, a credit account system, and mechanisms for users to lend or borrow cash.

The project also mentions the introduction of a nontransferable governance token.

Despite some enthusiasm within the crypto community, opinions on the timing and viability of the project are mixed. Critics have raised concerns about launching a crypto platform while Trump campaigns for the presidency again, as the launch date falls just 50 days before the election.

Nic Carter, a Trump supporter and venture capital partner, described the endeavor as a “huge mistake,” arguing that it risks damaging relationships within the crypto industry.
The platform aims to promote the use of U.S. dollar-pegged stablecoins within the DeFi space. Trump has indicated a potential partnership with the DeFi protocol Aave, suggesting that World Liberty Financial may operate on the Ethereum blockchain.

The venture has faced challenges, including an increase in scams targeting individuals associated with the project.

In recent weeks, hackers compromised the social media accounts of Trump’s family members, promoting fraudulent links related to World Liberty Financial. I

In response, the official Telegram group for the project has issued warnings against fake advertisements and giveaways.

This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
0 people liked this article