US President Donald Trump has a long list of crypto businesses, earning around $1 billion as of October 2025. Among them, one Challenge the project called World Liberty Financial could be the most important.
The platform, which President Trump co-founded, according to its website, with his three sons, wants to make finance “trustworthy, open and adapted to the way the world works today”.
World Liberty Financial was announced by President Trump’s son Eric in August 2024. It is led by DeFi builders Chase Herro and Zak Folkman, as well as other members of the Trump family and Zach Witkoff, son of longtime Trump ally Steve Witkoff.
Details on how the project will work are still quite rare. Let’s take a look at what we know so far.
Trump reveals $57 million windfall from Crypto Venture World Liberty Financial
Built using the Aave protocol, World Liberty Financial’s platform hasn’t been released until October 2025, but the project says it plans to “keep the dollar digital” and provide “loans to institutions and everyday users.”
DeFi – short for decentralized finance – is the sphere of the crypto industry that aims to replace traditional banking. DeFi projects, financial platforms that operate without third-party intermediaries, are typically applications built using Ethereumthe blockchain behind the second largest cryptocurrency, ETH.
World Liberty Financial also runs on Ethereum.
It is worth noting that while there are many DeFi applications, the space remains a highly experimental part of the crypto industry and has been plagued by hacks and scams.
Players in the DeFi space generally say they want to streamline an existing slow and expensive banking system, and World Liberty Financial has so far sold itself as the quintessential DeFi project: a borrowing and lending platform that will “unlock financial access for all, replacing the limitations of traditional banking with open on-chain infrastructure, creating a fairer system, where opportunity is not defined by location, status or authorization.
While you can’t take out loans using the platform yet, you can buy its native token, WLFI, which had a market cap of $3.56 billion as of October 2025, making it the 43rd largest cryptocurrency in existence, according to CoinGecko data. WLFI is available on major exchanges like Binance, Coinbase and OKX.
The project also has its own stablecoin, USD1, running on Ethereum And BNB Channelwhich Decrypt first revealed in October 2024. The stablecoin is also available on major US exchanges like Coinbase And Kraken.
