Key points
- Trump’s financial DeFi project World Liberty launches on September 16.
- The launch event will be streamed live on Twitter Spaces.
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Former President Donald Trump announced plans to launch “World Liberty Financial,” a decentralized finance (DeFi) protocol, next Monday, September 16 at 8 p.m. via Twitter Spaces.
.@WorldLibertyFi image.twitter.com/rHEGQXl4jL
— Donald J. Trump (@realDonaldTrump) September 12, 2024
In his tweet, Trump declared his intention to embrace cryptocurrencies and leave behind “big slow and outdated banks,” marking a significant shift from his previous skepticism toward digital currencies.
The launch of World Liberty Financial follows recent crypto initiatives from the Trump camp, including the DeFi project ‘The DeFiant Ones’ featured on Truth Social last month. However, details about the new platform remain limited, raising concerns among experts.
Eric Trump, in an interview with the New York Post, revealed that the project involves “Digital Real Estate”, fueling speculation about the possible tokenization of real-world assets or the sale of digital assets in the metaverse.
The World Liberty Financial website is currently advertising high-yield cryptocurrency investments and tools, allegedly backed by members of the Trump family.
The project has already faced scrutiny over reports that insiders would receive 70% of the token allocation, raising transparency concerns.
The move represents a change of course for the former president, who in 2019 called bitcoin “highly volatile and based on nothing.” As the crypto world looks on, Trump’s foray into DeFi is set to create a stir in both the financial and political spheres, with potential regulatory implications yet to be determined.
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