Former U.S. President Donald Trump, alongside his sons and business partners, launched a new cryptocurrency platform late Monday, though few details were disclosed.
The online presentation, which lasted two hours, offered little more than an invitation for participants to purchase digital “tokens” that would grant them voting rights on the platform.
Despite an alleged assassination attempt on Trump the previous day at his West Palm Beach golf club, the event proceeded as planned.
The platform, World Liberty Financial, aims to provide decentralized finance (DeFi) services, bypassing traditional financial intermediaries like banks to facilitate peer-to-peer transactions.
DeFi operates on blockchain technology, which maintains an open but secure record of transactions. World Liberty Financial will allow users to lend or borrow cryptocurrencies, similar to other existing platforms like Aave.
Donald Trump Jr. called the initiative “the start of a financial revolution” during the presentation, streamed on X (formerly known as Twitter).
The project is led by cryptocurrency entrepreneurs Zachary Folkman and Chase Herro, who emphasized the platform’s use of stablecoins—digital currencies tied to traditional assets like the U.S. dollar—offering stability compared to the volatility of other cryptocurrencies.
World Liberty Financial aims to make cryptocurrency accessible to the general public, with a user-friendly platform.
Tokens sold by the platform will give buyers governance rights, with 63% available to the public, 20% reserved for the founding team, and the rest allocated as rewards for users.
No specific timeline for the project was announced.
While Trump once criticized cryptocurrencies as a scam during his presidency, he has since shifted his stance, branding himself as a “pro-Bitcoin president” ahead of the 2024 election, in contrast to the Biden administration’s regulatory approach to the sector.
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