cryptocurrency

Former President Trump and Sons Launch World Liberty Financial Cryptocurrency Project, Embracing Blockchain and DeFi

The Big Whale

04 Sep 2024 — 1 min read

Donald Trump and his sons are involved in a cryptocurrency project called World Liberty Financial.
The project includes a borrowing and lending service similar to a recently hacked app called Dough Finance.
World Liberty Financial will introduce a new cryptocurrency called WLFI.
The project aims to highlight the power of blockchain and will have a non-transferable governance token.
The team behind World Liberty Financial includes Trump family members, financiers, and e-commerce influencers.
Dolomite co-founder Corey Caplan has been named as an advisor for the project.

Summary :
Former U.S. President Donald Trump and his sons have been teasing an upcoming cryptocurrency project called World Liberty Financial. While details have been scarce, CoinDesk has obtained excerpts from a white paper that describe a borrowing and lending service similar to the recently hacked Dough Finance. The project will also introduce a new cryptocurrency called WLFI, which will have transfer restrictions to deter speculators. The white paper highlights the power of blockchain and decentralized finance (DeFi). The project's leadership team includes Trump's sons, financiers, and e-commerce influencers. Trump's involvement in the project marks a significant shift from his previous skepticism towards digital assets. The project aims to solidify Trump's appeal with the crypto industry, which has been a major contributor to campaign spending. The article also mentions that Dolomite co-founder Corey Caplan has been named as an advisor for World Liberty Financial. Additionally, Polymarket, a decentralized prediction market platform, has seen a rise in trading volume and surpassed the volume of all NFTs combined. The platform allows users to trade positions on various predictions, including political elections. Currently, Trump has a slight lead over Vice President Kamala Harris in the prediction market for the 2024 Presidential Election.

Sources :

- Coindesk
- TheBlock
- TheBlock
- TheBlock

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