Crypto Project Backed by Trump Raises Concerns Over Token Allocation and Regulatory Scrutiny
- World Liberty Financial raises concerns with plans to allocate 70% of tokens to insiders.
- Uniswap settles with CFTC, pays $175K fine, while a16z and Union Square Ventures receive subpoenas.
- Summary :
World Liberty Financial, a crypto project backed by Trump, is causing concern due to its allocation of tokens. The project plans to give 70% of its tokens to insiders and sell the rest, which could attract regulatory scrutiny. Trump's role as "Chief Crypto Advocate" and the involvement of his three sons further raise eyebrows. The project is linked to a recently hacked lending platform and is owned by Zak Folkman, a former pick-up artist turned entrepreneur.
Sources :
- Bankless
