Donald Trump unveiled a crypto platform - World Liberty Financial - promoted by the Republican nominee and his sons, on September 16, via a live event on X Spaces.
Called World Liberty Financial, the project is being promoted to help with financial security and hassle-free transaction.
The Trump family has, however, not provided much detail about the business, in terms of how it was financed or what purpose would it serve. Trump's two sons, Eric and Donald Jr, had been promoting the project recently, claiming that it will 'transform' the world of digital asset finance.
A white paper on World Liberty Financial reviewed by Bloomberg News showed Donald Trump as 'chief crypto advocate', Eric and Donald Junior as 'Web3 Ambassador', and 18-year-old Barron Trump as 'chief DeFi visionary'.
The World Liberty Financial project will also issue a digital token - WLFI - that'll have a role in governing the business, but only verified, accredited Americans will be able to purchase the cryptocurrency.
One disclaimer in the white paper said that WLF is 'not owned, managed, operated or sold' by the Trumps, while noting they may receive compensation.
“China is doing it anyway. But if we don’t do it, we’re not going to be the biggest, and we have to be the biggest and the best,” Trump said, referring to the project. Donald Trump has onboarded digital assets in th run-up to the November election, and has pledged to make United States the "crypto capital of the planet."
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