Crypto platform “World Liberty Financial” launches
Donald Trump has caused a surprise in the crypto world. Together with his sons and two well-known cryptocurrency entrepreneurs, the former US president has presented his own platform called “World Liberty Financial”. However, only a few concrete details were revealed during a two-hour online presentation broadcast on the online service X. What is known so far is that users can purchase so-called digital tokens that give them a say in platform decisions.
Trump: Crypto platform “World Liberty Financial” launches
Donald Trump Jr. described the project as the “beginning of a financial revolution.” The aim of the platform is to offer decentralized financial services based on blockchain technology. This could make traditional financial institutions such as banks obsolete. One of the services offered is lending cryptocurrencies among users – an offer that already exists on many other crypto platforms.
In addition to the Trumps, the experienced cryptocurrency entrepreneurs Zachary Folkman and Chase Herro are behind the project. They are relying on so-called stablecoins, which are subject to fewer price fluctuations compared to other cryptocurrencies because they are linked to the value of conventional currencies such as the US dollar. This is intended to offer users more stability and security, an important point in the volatile crypto scene. World Liberty Financial wants to create a platform that is accessible to everyone and easy to use.
What is the former US president planning?
The tokens offered on the platform are a central element of the project. They are intended to give buyers a vote in decisions about the future development of the platform. 63 percent of the tokens will be made available to the public, while 20 percent will go to the founding team and the rest is reserved as an incentive for users.
What is interesting is Trump’s own turnaround. During his presidency, he was critical of cryptocurrencies, even calling them a “rip-off.” But now he is presenting himself as a supporter and innovator in this area. At the end of July, Trump announced that he wanted to be the “pro-innovation and pro-Bitcoin president” that America needs.
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With World Liberty Financial, Trump is clearly distancing himself from the current US administration under Joe Biden, which is striving for stricter regulation of the crypto sector. Trump’s new position could have a lasting impact on the crypto market and encourage many of his supporters to join this “financial revolution”.
