Trump to launch DeFi protocol next week
Ex-President Donald Trump has unveiled his latest venture, "World Liberty Financial," a cutting-edge decentralized finance (DeFi) platform, slated for release next Monday, September 16, at 8 pm, to be introduced through Twitter Spaces.
In his announcement via tweet, Trump voiced his commitment to the cryptocurrency movement, expressing a desire to move beyond the "slow and outdated" traditional banking system. This represents a remarkable turnaround from his earlier cautious stance on digital currencies.
This recent endeavor, World Liberty Financial, comes on the heels of other cryptocurrency initiatives by the Trump team, such as last month's debut of 'The DeFiant Ones' DeFi project on Truth Social. Nevertheless, the specifics of this new venture have yet to be fully disclosed, arousing skepticism among industry observers.
In a conversation with the New York Post, Eric Trump hinted that the venture would explore "digital real estate," sparking discussions on whether this might involve the tokenization of physical assets or the trading of virtual assets in the metaverse.
The official site for World Liberty Financial currently promotes an array of crypto investments and instruments, reportedly endorsed by members of the Trump family.
However, the initiative has come under fire after it was revealed that insiders might receive up to 70% of the tokens, leading to calls for greater transparency in its operations.
With this new project, the former president diverges from his 2019 critique of Bitcoin as "highly volatile and based on thin air." Trump's entry into the DeFi space is expected to create significant ripples throughout both the financial and political landscapes, with the full breadth of regulatory impacts yet to be ascertained.
