Donald Trump’s crypto venture, World Liberty Financial, is set to officially launch on Monday, September 16, as announced by the former President and current Republican presidential candidate.
In the latest crypto news, a video posted to X on September 12, Trump stated that he will go live on the platform for the project’s debut, which is managed by his sons, Donald Jr. and Eric Trump.
“We’re embracing the future with crypto and leaving behind the slow, outdated big banks,” Trump remarked in the video.
While details around World Liberty Financial have been somewhat vague, Trump has previously hinted that the platform will operate within the DeFi space, offering services like borrowing and lending.
A white paper reportedly describes features such as a digital wallet for storing funds, a credit account system, and the ability to invest in assets using tokens.
Additionally, the platform will introduce a nontransferable governance token and has expressed interest in promoting the use of U.S. dollar-pegged stablecoins in the DeFi world.
The project has also teased a possible collaboration with DeFi protocol Aave, suggesting that World Liberty Financial could be built on the Ethereum blockchain. Trump’s recent statements, promising to support the crypto industry if re-elected president, have garnered notable backing from the crypto community.
Also Read: Trump Jr. Plans Crypto Platform To Combat Banking Inequality
He vowed to bring clearer regulations to the space and even indicated plans to remove SEC chair Gary Gensler, who has been actively enforcing actions against major crypto firms.
However, reactions to the launch have been mixed. With World Liberty Financial set to go live just 50 days before the presidential election, some are questioning the timing.
Nic Carter, a Trump supporter, and partner at Castle Island Ventures, referred to the project as a “huge mistake,” claiming it seemed like an attempt by Trump’s inner circle to cash in on his crypto advocacy, which could damage goodwill built within the industry.
According to crypto market latest news, the project has also faced security issues. On September 4, hackers managed to breach the X accounts of Trump’s daughter-in-law Lara and his daughter Tiffany, using the platform to post fraudulent links tied to World Liberty Financial. The venture has since had to battle various fake ads and scams, with an official statement on August 30 from its Telegram group warning against fraudulent giveaways.
Further confusion arose when Eric Trump had to clarify on Aug. 8 that a memecoin named Restore the Republic (RTR), which surged to $155 million within hours of its debut, was not affiliated with World Liberty Financial.
With the launch approaching, Trump’s bold foray into the crypto space continues to raise eyebrows as his campaign for the presidency rolls on.
