Trump to Launch Crypto Project ‘World Liberty Financial’ on Monday

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Former U.S. President Donald Trump is preparing to step into the decentralized finance (DeFi) world with the upcoming launch of his new crypto project, World Liberty Financial. Scheduled to go live on September 16, the announcement was made in a video Trump posted on X on September 12. The project is reportedly controlled by his sons, Donald Trump Jr. and Eric Trump.

Trump’s video message painted an ambitious picture for the future of finance, stating that the project would challenge traditional banking systems. “We’re embracing the future with crypto and leaving the slow and outdated big banks behind,” Trump remarked. Although Trump has previously hinted at the project in cryptic posts, more concrete details have now emerged.

About World Liberty Financial

According to the white paper for World Liberty Financial, the platform will operate as a decentralized finance service, enabling users to store funds in digital wallets, borrow and lend money, and invest in various assets, including cryptocurrencies. Additionally, a credit account system will be introduced, along with a non-transferable governance token, suggesting that users will have a say in how the platform evolves.

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The project also aims to integrate stablecoins, particularly U.S. dollar-pegged ones, into the DeFi space, further signaling a focus on decentralized financial systems. Moreover, there are hints of a collaboration with the well-known DeFi protocol Aave, which suggests that World Liberty Financial could be built on the Ethereum blockchain, known for supporting DeFi platforms.

Trump’s Support for Crypto

Trump’s support for the crypto industry, particularly in light of his 2024 presidential campaign, has drawn significant attention. He has promised to advocate for clearer regulatory frameworks and has openly criticized current Securities and Exchange Commission (SEC) Chair Gary Gensler, vowing to fire him if reelected.

While the crypto community is buzzing with excitement, not everyone is convinced. Some question the timing of the launch, as it comes just 50 days before the November election. Additionally, World Liberty Financial has already encountered hurdles, with fake advertisements and scams emerging on platforms like Telegram, prompting Eric Trump to distance the project from these fraudulent schemes.