Former US President Donald Trump and his sons have launched a cryptocurrency platform called World Liberty Financial, promising a “financial revolution” in decentralized finance (DeFi).
The project, unveiled during a two-hour online presentation, aims to offer cryptocurrency lending and borrowing services without traditional banking intermediaries.
Few specifics were provided, but the platform plans to use “stablecoins” backed by traditional currencies to reduce volatility. Users will be able to purchase tokens granting voting rights in platform decisions, with 63% offered to the public and 20% reserved for the founding team.
Cryptocurrency entrepreneurs Zachary Folkman and Chase Herro are spearheading the project, which aims to make cryptocurrencies more accessible to the general public. No launch date was announced.
Notably, Trump’s stance on cryptocurrencies has shifted dramatically since his presidency, when he dismissed them as a “scam.” He now positions himself as a “pro-bitcoin president” in contrast to the Biden administration’s regulatory approach.
