Donald Trump, along with his sons and cryptocurrency entrepreneurs, launched a new cryptocurrency platform on the evening of September 16.
Headlining the event, Trump introduced the platform, promoted by his Republican nomination, but offered few details during the two-hour online presentation. The platform allows users to purchase digital “tokens” that grant them voting rights on platform decisions.
Named World Liberty Financial, the project is part of the decentralized finance (DeFi) sector and aims to enhance financial security and facilitate transactions without traditional intermediaries like banks. Donald Trump Jr. discussed the platform’s goals in an X Spaces livestream, emphasizing its role in the DeFi space, which uses blockchain technology to provide a transparent and secure transaction record.
World Liberty Financial will allow users to lend or borrow cryptocurrencies from one another, a feature already available on many existing platforms. Trump Jr. described this initiative as “the start of a financial revolution” during the X stream.
The platform will primarily use “stablecoins,” which are linked to traditional currencies, such as the dollar, reducing the volatility typically associated with cryptocurrencies. Zachary Folkman and Chase Herro, key figures behind the project, stated that the platform aims to make cryptocurrencies more accessible to the general public.
World Liberty Financial plans to sell tokens that offer governance rights on the platform, with 63% available to the public, 20% allocated to the founding team, and the remainder reserved for user rewards. The timeline for the project’s rollout has not been announced.
This new venture is notable given Trump’s previous stance on cryptocurrencies, which he once labeled as a scam during his presidency. He has since shifted his position, presenting himself as a “pro-bitcoin president” if elected in the upcoming November elections.
