Donald Trump has revealed plans to launch World Liberty Financial and the native token WLFI in a move to stump the current frailed financial network
During a recent livestream on X, former President Donald Trump officially announced his upcoming cryptocurrency project. The project is World Liberty Financial, and the associated governance token is WLFI. The initiative, backed by the former President and his two sons, aims to allow token holders to participate in decision-making processes on the platform.
Details About WLFI Token
WLFI is a non-tradable or transferable token that gives holders the exclusive right to vote on proposals, changes, and updates within the project. It serves as a tool for decentralized governance, giving the community a voice in the direction and development of the project.
It was disclosed that the token will be sold only to accredited investors under Regulation D exemption from the Securities and Exchange Commission (SEC). This exemption enables companies to raise funds without registering securities with the agency.
Furthermore, the project aims to promote financial independence. It was shared that 63% of the tokens will be allocated to the public, and 20% will go to the Trump family and insiders. Importantly, 17% will be kept aside for user rewards. Despite the fanfare, details about the project launch remain limited.
Donald Trump and Crypto: DeFi Dream or Political Ploy?
The crypto project, promoted as a revolutionary alternative to financial institutions, faces skepticism even within the community. Travis Kling, the founder of Ikigai Asset Management, recently voiced his concerns in an interview. He labeled some aspects of Trump’s move as scammy and gritty.
Despite Trump’s success with NFT deals, questions linger about whether his Decentralized Finance (DeFi) venture is a strategic move. Speculation arises about whether Trump’s stance on crypto is for personal profit or an attempt to attract a specific group of crypto voters.
For years, Trump was a crypto skeptic, calling Bitcoin a scam. However, during his campaign, he transformed into a strong advocate. In July, he attended the Bitcoin Conference 2024 and received donations from crypto executives.
Recently, Trump has stressed that crypto is a matter that cannot be ignored, regardless of personal preferences.
Disclaimer: The information provided in this article is for informational purposes only. It does not constitute investment, financial, trading, or any other sort of advice. You should not treat any of BGECrypto’s content as such. BGEcrypto does not recommend that any cryptocurrency should be bought, sold, or held by you. Do your due diligence and consult your financial advisor before making
