Former U.S. President Donald Trump is set to unveil his latest venture, a cryptocurrency platform called World Liberty Financial (WLFI). The platform will be managed by his sons, Donald Trump Jr. and Eric Trump, with the announcement taking place on Monday, September 16 at his Mar-a-Lago resort.
This project is being positioned as part of Trump’s plan to make the United States a leader in cryptocurrency. Trump’s youngest son, Barron Trump, an NYU student, is credited as the “DeFi visionary” behind the platform, which aims to embrace decentralized finance (DeFi) and move away from traditional banking systems.
WLFI will feature a token system where 70% of tokens are reserved for company insiders and 30% will be available for public sale, according to a white paper obtained by CoinDesk. While the platform’s specifics remain unclear, Trump and his family have promoted it heavily on social media, touting it as the “future of crypto.”
However, the project has raised concerns regarding potential conflicts of interest, as watchdog groups question whether Trump might use federal resources to benefit from his venture if elected. Despite these concerns, the Trump family continues to push the narrative of financial independence through WLFI.
Trump’s cryptocurrency journey marks a shift from his previous stance during his presidency when he expressed scepticism about digital assets. Now, as part of his presidential campaign, Trump has even started accepting cryptocurrency donations.
The launch of World Liberty Financial highlights the growing integration of cryptocurrency into mainstream politics, with Trump seeking to rally support from a growing base of crypto enthusiasts.
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