Key takeaways
- Trump’s DeFi World Liberty Financial project will launch on September 16.
- The launch event will be streamed live on Twitter Spaces.
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Former President Donald Trump announced his plans to launch “World Liberty Financial,” a decentralized finance (DeFi) protocol, next Monday, September 16, at 8 p.m. via Twitter Spaces.
.@WorldLibertyFi pic.twitter.com/rHEGQXl4jL
— Donald J. Trump (@realDonaldTrump) September 12, 2024
In his tweet, Trump declared his intention to embrace cryptocurrency and leave behind “slow, outdated big banks,” marking a significant shift from his previous skepticism toward digital currencies.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” unveiled 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 involved “digital real estate,” fueling speculation about the potential tokenization of real-world assets or the sale of digital assets in the metaverse.
The World Liberty Financial website is currently promoting high-yield crypto investments and tools, apparently backed by members of the Trump family.
The project has already come under scrutiny due to reports that insiders were receiving 70% of the token allocation, raising concerns over transparency.
The move represents a shift for the former president, who in 2019 called Bitcoin “highly volatile and built on nothing.” With the crypto world watching, Trump’s foray into DeFi is poised to make waves in the financial and political spheres, with potential regulatory implications yet to be determined.
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