Donald Trump

World

Liberty

DeFi

Donald Trump has set the launch date for World Liberty Financial, which will debut on September 16.
This announcement follows hints from his family earlier this summer, as well as Trump’s previous vague descriptions of the project as a DeFi platform for borrowing and lending.
<h2 id="details-of-the-project">Details of the Project</h2>
In a video posted on X, he <a href="https://x.com/realDonaldTrump/status/1834311432982135015" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">revealed</a> the date to his followers. Scheduled to go live on September 16, Trump invited the public to join him on Twitter Spaces at 8 p.m. that day, stating, “We’re embracing the future with crypto and leaving the slow and outdated big banks behind.”
According to a recently released white paper, the project will <a href="https://cryptopotato.com/70-of-world-liberty-financials-tokens-are-reserved-for-insiders-report/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">offer</a> users a digital wallet for storing money, a credit account system, and opportunities to borrow and lend cash. Additionally, users can invest in cryptocurrencies through the platform’s native tokens, and a nontransferable governance coin is also anticipated, though details are still limited.
The platform will reportedly prioritize using U.S. dollar-pegged stablecoins in the DeFi space. In a statement, World Liberty Financial <a href="https://x.com/worldlibertyfi/status/1831348468578672817" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">described</a> its mission as “making crypto and America great by driving the mass adoption of stablecoins and decentralized finance.”
It explained that by distributing these stablecoins globally, it<a href="https://x.com/worldlibertyfi/status/1831348470663287119" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external"> aims</a> to maintain the dominance of the U.S. dollar and reinforce America’s financial leadership and influence worldwide.
World Liberty Financial has also mentioned a partnership with DeFi protocol Aave, hinting that the project may be built on the Ethereum blockchain. The team <a href="https://x.com/worldlibertyfi/status/1831348466733191638" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">confirmed</a> they are “working with Aave, collaborating to create a platform that sets new standards and pushes all of DeFi forward.”
They also <a href="https://x.com/worldlibertyfi/status/1831348464371798357" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">claimed</a> to be prioritizing security, with “top security experts” reviewing the platform’s code to ensure best practices are being followed.
<h2 id="mixed-reactions">Mixed Reactions</h2>
Despite the excitement around the upcoming platform, reactions have been mixed.&nbsp;Some supporters see it as a bold move to align the U.S. with the future of global finance, while others are concerned about the timing. With the project set to launch just 50 days before the election, critics worry it could distract from Trump’s presidential campaign.
Nic Carter, a Trump supporter and partner at Castle Island Ventures, expressed reservations, calling the move a “huge mistake.”
<blockquote>
 In an interview with Politico, Carter <a href="https://www.politico.com/news/2024/09/06/trump-family-crypto-startup-00177566" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">stated</a>, “It looks like Trump’s inner circle is just cashing in on his recent embrace of crypto in a kind of naive way. Frankly, it looks like they’re burning a lot of the goodwill that’s been built with the industry so far.”
</blockquote>
The former president’s shift from skepticism to support for cryptocurrency has won him strong backing from the community, especially after he pledged to support the industry if re-elected in November.
The post <a href="https://cryptopotato.com/donald-trump-announces-launch-date-of-world-liberty-financial/" rel="noopener noreferrer nofollow">Donald Trump Announces Launch Date of World Liberty Financial</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Donald Trump Announces Launch Date of World Liberty Financial

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