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17/09/24
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Trump’s Crypto Connection: Introducing World Liberty Financial After Ominous Event
At a recent livestream event, Donald Trump discussed various topics but notably omitted any mention of World Liberty Financial, the new cryptocurrency platform introduced by his family. The event, held on September 16 and moderated by a prominent crypto influencer, marked Trump’s first public appearance following a reported assassination attempt the day before. While he initially titled the address as a “State of Crypto address,” it took a significant amount of time before he touched on cryptocurrency, emphasizing a broader vision for revitalizing the country.
After approximately two hours into the livestream, Zak Folkman, a leader within the World Liberty Financial team, announced plans for a new token. He explained that the platform intends to offer non-transferrable WLFI tokens, which serve as governance tokens, allowing holders the privilege to propose and vote on platform-related matters. Folkman noted that sales of these tokens to individuals in the U.S. would be restricted to accredited investors only, citing regulatory uncertainties surrounding token offerings in the country.
Despite claims that WLFI would not be classified as a security, the team opted for prudence in adhering to U.S. federal securities laws, ensuring that only verified accredited investors could engage in the token sale. Folkman also hinted that offerings to non-U.S. entities would be similarly constrained by applicable regulations.
While details surrounding the broader World Liberty Financial platform remain scarce, leaked information suggests it may function as a decentralized finance (DeFi) platform for borrowing and lending, potentially inspired by existing services like Dough Finance. Furthermore, the platform aims to facilitate the adoption of stablecoins and has plans in motion to integrate with established DeFi applications.
Contrary to his previous skepticism regarding cryptocurrency, Trump appears to have shifted his stance, showcasing increasing alignment with the industry through various initiatives, including NFT sales and crypto acceptance for political donations.
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