🌎 Trump Aims to Make America Crypto Capital with New Venture

Former U.S. President Donald Trump has unveiled his ambitious plan to transform America into a “crypto capital” through his new venture, World Liberty Financial.

Trump’s Vision for World Liberty Financial

“I promised to Make America Great Again, this time with crypto. World Liberty Financial is planning to help make America the crypto capital of the world!” Trump posted on X. He encouraged eligible individuals to join a whitelist for this groundbreaking initiative. Trump made the official announcement on September 30, 2024.

Launch of World Liberty Financial

On September 16, Trump launched World Liberty Financial with the aim of disrupting traditional finance by offering decentralized finance (DeFi) as a viable alternative. This project plans to provide borrowing and lending services, aiming to be more user-friendly and accessible than current DeFi platforms. Most of the WLFI tokens will reportedly be sold to accredited U.S. investors.

Market Reactions and Skepticism

The launch has generated considerable excitement, with some analysts predicting a significant rise in the value of its tokens. However, there are also substantial concerns and skepticism surrounding the project.

Concerns Over Leadership and Token Distribution

One major concern is the involvement of Chase Herro, the leader of World Liberty Financial, who was previously associated with a failed crypto venture, Dough Financial, which experienced a $2 million exploit.

Additionally, 70% of World Liberty Financial’s tokens are reserved for insiders, including Trump and his team, leaving only 30% for public sale. This high level of insider ownership could lead to price instability if insiders decide to liquidate their stakes.

Regulatory Scrutiny

There is also the possibility of scrutiny from the SEC, as tokens are often classified as securities, which could bring additional regulatory challenges to the project.