Trump Debuts World Liberty Financial, Touts Crypto as Key to America’s Future

Republican presidential candidate Donald Trump officially launched his crypto venture World Liberty Financial on Monday.

In an X Spaces conversation with crypto influencer Farokh Sarmad, Trump expressed enthusiasm about the official launch. “We’re going to make our country greater than ever before, and you’re going to love your crypto,” he said.

During his fireside conversation, Trump talked about previous his lack of interest in cryptocurrencies, when wasn’t too familiar with them yet. He narrated how that stance changed as time passed, and credited his children for “opening his eyes.”

Join me live from Mar-A-Lago at 8:00PM Eastern, tonight on X Spaces. Set a reminder and be sure to tune in! https://t.co/MXTu3hxVFP
— Donald J. Trump (@realDonaldTrump) September 16, 2024

Trump’s sons, Eric and Donald Trump Jr., property developer Steve Witkoff, and the latter’s sons Alex and Zach Witkoff, also joined the conversation.

As far as the crypto venture’s mission is concerned, it aims to drive mass adoption of stablecoins and decentralized finance. “We believe that DeFi is the future, and we’re committed to making it accessible and secure for everyone,” said WLFI in an X post.

World Liberty Financial also emphasized its support for U.S.-pegged stablecoins, aiming for them to remain the world’s dominant settlement layer for the next 100 years. It also wants to see the U.S. dollar continue to lead globally.

Crypto Banking Platform and WLFI Token

The X Spaces livestream also revealed that World Liberty Financial will function as a banking platform where users can borrow, lend, and invest in crypto.

The company introduced its token, WLFI ,during the streaming. The founding team, including the Trumps, holds 20% of the tokens, another 17% is reserved for user rewards, while the remaining 63% is available for public purchase. There will be no pre-sales or early buy-ins, and the token will comply with SEC Regulation D, allowing fundraising without prior registration.

In closing his statement in the video, Trump emphasized the necessity of embracing cryptocurrency. “Crypto is one of those things we have to do. Whether we like it or not, we have to do it,” he stated.

World Liberty Financial has faced a lot of controversies since its launch, plagued by scams and cyber threats. Notably, the X accounts of Lara Trump, Donald Trump’s daughter-in-law, and Tiffany Trump, his daughter, were hacked, raising security concerns around the venture.

Gairika holds positions in BTC. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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