🌎 Trump’s World Liberty Financial to Launch WLFI Governance Token

Donald Trump’s Crypto Project World Liberty Financial to Launch Governance Token

World Liberty Financial, a crypto project backed by former President Donald Trump, has confirmed plans to launch a governance token exclusively for accredited investors.

In his first public appearance since surviving a second assassination attempt, Trump discussed the project during an interview with crypto influencer Farokh Sarmad on September 17. The World Liberty Financial team unveiled the WLFI token to over 100,000 listeners on X spaces.

The WLFI token will be sold under a Regulation D exemption, allowing companies to raise funds without SEC registration, provided they target accredited investors or conduct small, private sales.

Regulatory Challenges and Token Sale

Zak Folkman, one of the project’s founders, explained that the decision to limit sales to accredited investors stems from the regulatory uncertainty surrounding token sales in the U.S. The Securities and Exchange Commission often categorizes these tokens as securities.

Sales to U.S. residents will necessitate verification as accredited investors. Non-U.S. buyers may face other restrictions, although specific participation details remain unclear.

Token Features and Distribution

WLFI will be a non-transferable governance token, enabling holders to make proposals and vote on platform-related matters. The project aims to replace traditional banking systems with more efficient solutions.

Around 63% of the total token supply is reserved for public sale, 17% for user rewards, and 20% for the team and its advisers. Folkman emphasized that the distribution would be “incredibly fair,” with no pre-sales or discounted allocations for venture capitalists.

The launch date for the WLFI token has not yet been disclosed.

Trump’s Stance on Crypto

Although Trump had previously hinted at the project, he refrained from discussing it directly during the interview. Instead, he focused on broader topics related to crypto policy and the potential impact of digital assets on the U.S. economy.

“Crypto’s one of those things we have to do, whether we like it or not,”

Trump stated, adding that the sector is “big and yet it’s a fledgling compared to what it will be.”

Other members of the Trump family also participated in the discussion. Donald Trump Jr. highlighted DeFi as a means to bring “fairness to the financial system,” aligning with the founding fathers’ intentions. Eric Trump pointed out the need for DeFi platforms to be more user-friendly, sharing his own challenges with decentralized platforms like Aave.

Security Concerns

Initial concerns suggested that 70% of all WLFI tokens would be reserved for insiders, including Trump. However, with the number now clarified at 20%, some doubts have eased. Nonetheless, concerns about the project’s security persist, particularly regarding the involvement of Chase Herro, one of the project’s leaders.

Herro’s previous venture, Dough Financial, faced a significant security breach, losing over $2 million in assets. To mitigate security risks, the WLFI team has enlisted top-tier security firms like PeckShield, Zokyo, and BlockSecTeam to audit and safeguard the platform. The project’s code has also been thoroughly reviewed to prevent vulnerabilities.