Trumps Go All-In on Crypto with World Liberty Financial
The Trump family is set to launch their Trump crypto venture, World Liberty Financial, after recently endorsing digital currencies, with further details yet to be revealed.
When Trump endorses crypto that means the former president and his family are entering the game with a new project, World Liberty Financial, promising to upend the way people conduct financial transactions in general.
Eric and Donald Trump Jr. said their big plans were to be revealed during a livestream on X, formerly known as Twitter, earlier this week, which led to Trump accepting crypto more than ever.
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According to Trump crypto, the platform will enable users to avoid traditional banks and their fees through the help of Decentralized Finance (DeFi) which allows users to conduct transactions without intermediaries intervening, so it can provide wider access to financial services at an affordable cost.
“It’s truly our job to make it understandable. We have to make it intuitive; we have to make it user-friendly, and we will,” the Eric Trump crypto plan is endorsed by their goal to make DeFi simple to use for a normal user.
Of course, no great technical details came from the family during the announcement, but then again, the main focus here is to make DeFi mainstream and user-friendly across the board.
Trump on Crypto Joined by Veterans
In this scenario, it’s important to know that the World Liberty Financial is not an exclusively Donald Trump on crypto project.
Is Trump pro crypto? You can say that. Not only Trump accepts crypto, but his family has also reached out to several popular crypto faces, such as Chase Herro and Zak Folkman, not to mention the real estate investor Steve Witkoff.
In addition to the platform itself, World Liberty Financial is going to pride itself on its very own governance token, WLFI, enabling holders to vote on main questions concerning the platform.
Of these tokens, about 63% will be sold to the public, while part of them will be devoted to rewarding users and as remuneration for the team working on this project.
Donald Trump Jr. and Eric Trump had gossiped about the project for weeks, with the former promising on social media that “we’re gonna shake up the crypto world.”
Even former President Donald Trump promoted his venture-so he reminded of the need for such a system because currently, it’s all dominated by traditional banks and financial elites.
Endless Political Ties of Global Crypto Support
Interestingly, this Trump crypto initiative comes hot on the heels of Trump’s current bid for reelection. Thus far, much of the cryptocurrency community has thrown its weight in support of him, with high-profile figures such as the Winklevoss twins and Kraken co-founder Jesse Powell donating generously to his campaign.
Meanwhile, experts like Brad Harrison, chief executive of the Venus Protocol, greet such new, emerging entrants-World Liberty Financial-into the admittedly stiff competition in more entrenched DeFi platforms like Aave and Compound.
As Harrison puts it, “I welcome any effort to bring DeFi into the mainstream,” although he also added that “the platform risks being more of a branding exercise than a substantive and safe contribution.”
“We are definitely dealing with crypto as a right-wing Republican commodity now,” said Jacob Silverman, co-author of Easy Money.
Donald Trump finance policies and crypto stance whether it will be a successful venture or not, this crypto involvement by the blockchain and Trump has certainly grabbed wide attention.
With an avid core constituency of political devotees and a huge public platform to promote themselves, World Liberty Financial is sure to make ripples in the DeFi space-even if their actual influence remains to be seen.
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