According to Cointelegraph: Despite high anticipation, former U.S. President Donald Trump did not share any information about his family’s new cryptocurrency venture, World Liberty Financial, during a Sept. 16 interview on X (formerly Twitter). While Trump had billed the event as a "State of Crypto address," the 45-minute talk primarily focused on other topics, leaving viewers waiting for details about the crypto platform.The event, which marked Trump's first public appearance since an assassination attempt the previous day, included a brief mention of cryptocurrency. Trump said, "We’re going to make our country greater than ever before, and you’re going to love your crypto," but provided no further insights into World Liberty Financial or its operations.WLFI Token Details RevealedIt was only two hours into the livestream that Zak Folkman, one of the project leaders, finally unveiled the details of World Liberty Financial’s token, WLFI. According to Folkman, the platform will issue non-transferrable governance tokens, granting holders the right to vote on platform-related decisions.Folkman emphasized that WLFI tokens will not be sold to the general public in the U.S. unless buyers are accredited investors. This move, he explained, was a precaution in response to regulatory uncertainty surrounding cryptocurrency token sales in the U.S.“Although we don’t consider WLFI to be a security, in light of the regulatory environment, we’ve decided to limit token sales to accredited investors to comply with U.S. federal securities laws,” Folkman stated. The sale of WLFI tokens to non-U.S. persons will also face restrictions based on applicable regulations.WLFI Token Distribution and SaleWhile Folkman did not disclose the total supply of WLFI tokens, he confirmed that 63% of the tokens would be reserved for public sale. Unlike many initial coin offerings (ICOs), he stressed that there would be no pre-sales or early discounted allocations for venture capitalists. However, 20% of the token supply will be allocated to the platform’s team and advisors, with the remaining 17% designated for user rewards.This allocation contrasts with earlier reports, which indicated that 70% of the tokens would be reserved for the team.Platform Vision and Future PlansLittle was said about the platform itself, though reports suggest that World Liberty Financial aims to function as a decentralized finance (DeFi) platform for borrowing and lending, similar to other DeFi protocols like Aave. The platform reportedly aims to promote the mass adoption of stablecoins and work on building credit systems for DeFi lending.While details remain limited, Folkman, alongside fellow project leaders Chase Herro and the Trump family, has previously indicated that World Liberty Financial seeks to reduce barriers in the traditional finance system. This marks another step in the Trump family’s increasing involvement in the cryptocurrency space, with Donald Trump previously launching non-fungible token (NFT) collections and accepting cryptocurrency for campaign contributions.Shift in Trump's Stance on CryptocurrencyDonald Trump’s recent actions highlight a significant shift in his stance on cryptocurrencies. In 2019, Trump had criticized the value of cryptocurrencies, claiming they were "based on thin air." However, in recent years, he has embraced digital assets, selling multiple NFT collections and positioning himself as a "crypto president" as part of his political platform.The World Liberty Financial project continues to be shrouded in mystery, with few concrete details available beyond the upcoming WLFI token. With only vague hints about the platform’s broader objectives, questions remain about how the project will differentiate itself in the competitive DeFi landscape. As the project develops, it will face the challenges of regulatory scrutiny and market competition while attempting to capitalize on the growing interest in decentralized finance.
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