Trump to Unveil World Liberty Financial Crypto Platform on September 16

Former President Donald Trump has announced the launch of his new cryptocurrency initiative, World Liberty Financial, scheduled for September 16. The announcement was made in a video released on September 12, where Trump stated that he would introduce the platform, which is managed by his sons, Donald Jr. and Eric Trump, through a live session.

“We’re embracing the future with crypto and leaving the slow and outdated big banks behind,” Trump commented.

Trump has made several allusions to World Liberty Financial in previous statements, describing it as a decentralized finance (DeFi) platform aimed at enabling borrowing and lending services.

According to a white paper, the project aims to provide users with a digital wallet for money storage, a credit account system, options to lend and borrow money, and the ability to invest in assets like cryptocurrencies using tokens. Additionally, the platform is expected to feature a governance token that is nontransferable.

World Liberty Financial has also indicated a desire to increase the adoption of stablecoins tied to the US dollar within the DeFi ecosystem. There are hints of a potential collaboration with the DeFi protocol Aave, which suggests that the platform may be developed on the Ethereum blockchain.

Trump has garnered substantial backing from the crypto community, largely due to his commitment to supporting the industry if he is elected again in November. He has promised clearer regulatory guidelines and has suggested removing Gary Gensler, the current chair of the Securities and Exchange Commission, who has actively pursued enforcement actions against major crypto firms.

Reactions to the launch of World Liberty Financial have been mixed, with some expressing concerns about Trump’s decision to start this project during his presidential campaign, just 50 days before the election. Nic Carter, a supporter of Trump and a partner at Castle Island Ventures, criticized the move, calling it a “huge mistake” and suggesting that Trump’s inner circle is attempting to profit from his recent interest in cryptocurrency in a somewhat naive manner.

The project has also faced scrutiny and challenges from scammers and hackers. For instance, on September 4, the X accounts of Trump’s daughter-in-law Lara and his daughter Tiffany were hacked, with malicious links falsely associated with World Liberty Financial being posted.

Furthermore, on August 30, the official World Liberty Financial Telegram group had to address a number of fraudulent advertisements and fake giveaways seeking to capitalize on the excitement surrounding the project. Earlier, on August 8, Eric Trump clarified that a recently launched memecoin, Restore the Republic (RTR), was not connected to World Liberty Financial, even though it had experienced a sudden surge in value to $155 million shortly after its release.

For more news, find me on Twitter Giannis Andreou and subscribe to My channels Youtube and Rumble

What is your opinion on this particular topic?  Leave us your comment below!  We are always interested in your opinion!