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CryptoXTimes > Article > News > Trump’s World Liberty Financial Sparks Crypto Excitement And Raises Questions
NewsCrypto

Trump’s World Liberty Financial Sparks Crypto Excitement And Raises Questions

Trump's crypto project excites investors, raises concerns about leadership, insider tokens.

Aima Raza
Last updated: September 30, 2024 5:34 pm
Aima Raza 8 months ago
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Trump’s World Liberty Financial Sparks Crypto Excitement And Raises Questions

The new initiative by former President Donald Trump is World Liberty Financial that aspires to turn America into a global leader in cryptocurrency. 

In a post on X (formerly Twitter), Trump announced under the hashtag #MakeAmericaGreatAgain that he would focus on cryptocurrency. The goal of World Liberty Financial is to transform America into the blockchain hub of the world. He encouraged those who fit the criteria to enroll in the project’s whitelist.

I promised to Make America Great Again, this time with crypto. @WorldLibertyFi is planning to help make America the crypto capital of the world! The whitelist for eligible persons is officially open – this is your chance to be part of this historic moment. Join:…

— Donald J. Trump (@realDonaldTrump) September 30, 2024

Trump’s Crypto Venture Launches Boldly

Founded on September 16th World Liberty Financial intends to challenge existing financial frameworks by presenting decentralized finance (DeFi) solutions. 

The service provides borrowing and lending opportunities seeking to simplify and enhance user accessibility over traditional DeFi models. A major chunk of its WLFI tokens will likely be given to accredited U.S. investors.

Due to the launch excitement many analysts anticipate an increase in the value of WLFI tokens. Uncertainty accompanies the project. Some people have questioned Chase Herro’s leadership at World LibertyFi because of his history with Dough Financial that faced a $2 million security breach.

The distribution of WLFI tokens has sparked debates since 70% of tokens are set aside for insiders including Trump and his group. If the insiders decide to sell their shares this high level of ownership may result in frequent price fluctuations. Token classification as securities may raise the SEC’s attention to the project according to expert warnings.

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TAGGED: Cryptocurrencies, Trump, WLFI
By Aima Raza
As a practicing lawyer who focuses on issues related to crypto and blockchain, Aima gives our content a unique legal viewpoint. Because she is so good at navigating the constantly changing regulatory environment, our readers always know about the latest regulations and happenings in the crypto world.
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