Donald Trump

World

Liberty

World Liberty Financial

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

XRP Faces Market Headwinds Despite Bitwise ETF Filing

Bitwise Files for Ripple XRP ETF Ahead of US Election

Why Caroline Ellison Was Sentenced to Two Years in Prison

COPA and Unified Patents partnership

Hoskinson Wades into ADA vs. SOL Debate: Which Altcoin is Better?

Bitcoin (BTC) Bulls Aren't Ready to Give Up, Shiba Inu's (SHIB) Dreams of $0.00002 Are Real, Ethe...

Join our free newsletter for daily crypto updates!