Former U.S. President Donald Trump, along with his sons and prominent cryptocurrency entrepreneurs, introduced a new digital finance platform late Monday, marking his entry into the world of decentralized finance (DeFi).
The platform, called World Liberty Financial, was unveiled in a two-hour online presentation, despite an alleged assassination attempt on Trump at his West Palm Beach golf club just days earlier.
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EKO HOT BLOG reports that World Liberty Financial aims to leverage DeFi technology, enabling users to bypass traditional financial intermediaries like banks. The platform allows for peer-to-peer cryptocurrency lending and borrowing, much like popular crypto platforms such as Aave. Blockchain technology ensures that all transactions are transparent and secure from tampering.
During the event, Donald Trump Jr. praised the project as “the start of a financial revolution,” while key cryptocurrency entrepreneurs, Zachary Folkman and Chase Herro, outlined the platform’s reliance on stablecoins—digital currencies backed by fiat money, such as the U.S. dollar. This approach aims to protect users from the volatility often associated with cryptocurrencies.
One unique feature of World Liberty Financial is its token-based governance system.
The platform will offer 63% of its tokens to the public, granting holders voting rights in platform decisions. The remaining tokens will be distributed to the founding team (20%) and as rewards for users (17%).
The launch of World Liberty Financial marks a significant shift in Trump’s view on cryptocurrencies. Once an outspoken critic, calling them a “scam” during his presidency, Trump has now embraced the digital currency space, positioning himself as a “pro-bitcoin president” in his 2024 campaign. This move contrasts with the Biden administration, which supports stricter regulation of the cryptocurrency sector.
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As Trump enters the digital finance world, the platform’s rollout is expected to draw significant attention from both supporters and critics, blending politics and cryptocurrency in a bold new venture.
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