Donald Trump's highly anticipated appearance on X Spaces on September 16 didn't fully deliver on the promise to launch World Liberty Financial — his family's new crypto platform, focusing mainly on his political aspirations.
Trump Talks About Assassination Attempt
The former President, who had just survived an assassination attempt the previous day, opened the livestream by addressing the incident. Though he hinted at discussing crypto, it took around 16 minutes before he made any mention of it.
WLFI Token Details
It wasn’t until over two hours into the livestream that Zak Folkman, one of the project’s leaders, stepped in to provide more specific information. Reading from a prepared statement, Folkman confirmed that World Liberty Financial would introduce the token WLFI. These tokens would serve solely as governance tokens, granting holders the right to make proposals and vote on decisions concerning the platform. WLFI tokens would be non-transferable and available for sale only to accredited investors in the U.S. after verification. Non-U.S. investors could potentially join in a future sale, subject to local restrictions. 63% of the WLFI tokens would be available to the public, with no pre-sales or early buy-ins for venture capital firms, 20% would go to the team and advisers, and the remaining 17% set aside as user rewards.
World Liberty Financial Platform Details
Details about the World Liberty Financial platform itself remained scant during the event. Earlier reports suggested that the platform would focus on decentralized finance (DeFi) services such as borrowing and lending. Trump’s entry into the crypto space marks a major shift from his previous stance in 2019, when he criticized cryptocurrency as having value ‘based on thin air.’ Since then, he has embraced the industry, selling NFT collections and accepting crypto for campaign contributions, positioning himself as a ‘crypto president.’
Trump's launch of World Liberty Financial represents a significant step in his adaptation to cryptocurrency technologies, potentially altering his previous critical views on the industry.
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