The press conference launching World Liberty Financial was less about the details of the project, instead looking more like an opportunity to interact and interview Mr. Donald Trump.
Trump House press conference to launch crypto project World Liberty Financial. Photo: DL News
On the morning of September 17 (Vietnam time), the Trump family held a press conference on social network X (Twitter) to officially announce their crypto project, called World Liberty Financial (WLFI).
Attending the press conference were former US President Donald Trump, who is running for the White House as a Republican, and his three sons, Donald Trump Jr., Eric Trump and Barron Trump. Donald Trump Jr. and Eric Trump are the two founders of World Liberty Financial.
Despite the unsettling events of yesterday, our X Spaces with Donald Trump will proceed as scheduled. We admire Mr. Trump's courage to continue in the face of adversity. Join us for a pivotal discussion on the future of cryptocurrency https://t.co/MQit7yx3tp
— WLFI (@worldlibertyfi) September 16, 2024
The event was held in unprecedented circumstances, as it was the first time a presidential candidate directly promoted his cryptocurrency project just 50 days before the election, and it also took place just one day after Mr. Trumpsurvived another “assassination” plot , as reported by Coin68.
The press conference was also used by Mr. Donald Trump as a campaign venue, with statements affirming that the cryptocurrency industry will receive more favorable conditions to continue to develop in a United States under his administration, instead of being further suppressed as under the Democratic Party and the US Securities and Exchange Commission (SEC), becoming "hell on earth".
At the Bitcoin Conference in July, the former US President caused a stir when he announced that if elected, one of his first orders would be to remove SEC Chairman Gary Gensler and reform the SEC.
Mr. Trump also Chia more about the reason why he changed his attitude towards crypto, no longer criticizing this field as useless as when he was President in the 2017 - 2021 term. He revealed that it was Non-Fungible Token that made him have a different view of the potential of blockchain, as well as thanks to the introduction of his sons.
Trump has so far released four Non-Fungible Token collections on Ethereum and Bitcoin, which quickly sold out after going on sale and helped him earn millions of dollars .
Donald Trump also stated that his children have known and understood crypto for a long time, even the youngest son Barron, although he only has 4 crypto wallets, is very knowledgeable about this field. Barron Trump is the character who was recently involved in the controversy of releasing the memecoin RTR not long ago, but eventually collapsed when it was discovered that he had no connection to the Trump family.
Although this was a launch event for World Liberty Financial, the press conference was very light on details about the project. The conference continued with a guest talk session, talking about the advantages of crypto over traditional finance.
According to some leaked sources, World Liberty Financial will be a “crypto bank”, allowing investors to deposit and borrow money in crypto, paying interest to the platform. It is known that 70% of the project’s Capital is owned by the Trump family and other investors.
Some X users have found evidence that World Liberty Financial will have its own Token called WLFI, planning to sell up to 30% of the total supply to raise $540 million, with a Token valuation of up to $1.8 billion.
5/n Details of the test contract:
— Dumpster DAO (@Dumpster_DAO) September 3, 2024
-Selling 30% of the supply at $1.8b FDV
-No per wallet max, price increases per tier from $0.0075 in tier 0 to $0.03 in tier 5
-The Token will be non-transferrable barring a proxy upgrade later on
*Note that these values could change pic.twitter.com/Ux3LhIl8Kw
In addition, there is also information that World Liberty Financial will "copy" the operating model of the lending platform AAVE and will pay high interest to depositors.
So far, World Liberty Financial has not announced a website or any other details, but instead has only introduced participating advisors, including Scroll co-founder Sandy Peng, Polychain Capital fund manager Luke Pearson,...
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