{"id":17020,"date":"2024-09-17T11:32:24","date_gmt":"2024-09-17T08:32:24","guid":{"rendered":"https:\/\/forklog.com\/en\/trump-family-unveils-world-liberty-financial-token-sale\/"},"modified":"2024-09-17T11:32:24","modified_gmt":"2024-09-17T08:32:24","slug":"trump-family-unveils-world-liberty-financial-token-sale","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/trump-family-unveils-world-liberty-financial-token-sale\/","title":{"rendered":"Trump Family Unveils World Liberty Financial Token Sale"},"content":{"rendered":"<p>The Trump family officially launched their cryptocurrency project, World Liberty Financial, during a live broadcast on the X platform, announcing the upcoming WLFI token sale. The project had been mentioned over the past two months.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Join me live from Mar-A-Lago at 8:00PM Eastern, tonight on X Spaces. Set a reminder and be sure to tune in! <a href=\"https:\/\/t.co\/MXTu3hxVFP\">https:\/\/t.co\/MXTu3hxVFP<\/a><\/p>\n<p>\u2014 Donald J. Trump (@realDonaldTrump) <a href=\"https:\/\/twitter.com\/realDonaldTrump\/status\/1835754983259558260?ref_src=twsrc%5Etfw\">September 16, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Former US President Donald Trump joined the conversation for the first 40 minutes, focusing on state policy development related to the crypto industry, without addressing the World Liberty Financial project.<\/p>\n<p>He remarked that NFT sales and his children &#8220;helped open his eyes&#8221; to the world of digital assets.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Since so many people were paying this way [with cryptocurrency], I was amazed. I wasn&#8217;t too interested [at first], to be honest. But I was surprised by the huge amount,&#8221; he noted.\u00a0<\/p>\n<\/blockquote>\n<p>On August 27, former President Donald Trump <a href=\"https:\/\/forklog.com\/en\/news\/trumps-fourth-nft-collection-surpasses-2-million-in-sales\">introduced<\/a> his fourth NFT collection, Series 4: The America First Collection, with sales exceeding $2.19 million. His previous three collections earned him approximately $7.16 million in royalties.<\/p>\n<p>The billionaire stated that the cryptocurrency industry is already &#8220;huge, but still a newcomer compared to what awaits it in the future.&#8221; <\/p>\n<h2 class=\"wp-block-heading\">World Liberty Financial, DeFi, and the WLFI Token<\/h2>\n<p>During the live broadcast, Trump&#8217;s sons, real estate investors Steve and Zach Witkoff, and Dough Finance co-founders Zachary Falkman and Chase Herro discussed the need for changes in the lending market. They aim to &#8220;take the best of DeFi and offer it to the average person.&#8221;<\/p>\n<p>World Liberty Financial will provide borrowing and lending services for cryptocurrencies on the Ethereum network. The product promises to be &#8220;more user-friendly and accessible.&#8221;\u00a0<\/p>\n<p>The sale of a non-transferable governance token, WLFI, is planned, which does not entail any economic rights. Due to regulatory restrictions, participation in the campaign will be available only to accredited investors.<\/p>\n<p>The team wishes to see only those token buyers who &#8220;seek to become participants in governance, rather than looking for financial gain.&#8221;\u00a0<\/p>\n<p>According to the white paper reviewed by <a href=\"https:\/\/decrypt.co\/249749\/donald-trump-launches-world-liberty-financial-project-token-details\">Decrypt<\/a>, the distribution of WLFI will be as follows:<\/p>\n<ul class=\"wp-block-list\">\n<li>62.66% of the tokens will be distributed through the token sale, with part of the net proceeds going to the project&#8217;s multisig wallet reserve fund;<\/li>\n<li>17.33% of WLFI will be allocated to incentivize participation in World Liberty governance and community development initiatives;<\/li>\n<li>The remaining 20% of tokens will be given to the project team, advisors, and future employees. An undisclosed portion of WLFI will be allocated to the WLF fund, Trump Organization affiliates, and Witkoff Group.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\">Announcement Timeline<\/h2>\n<p>On August 7, Donald Trump Jr. and Eric Trump <a href=\"https:\/\/forklog.com\/en\/news\/trumps-sons-announce-ambitious-defi-venture\">released<\/a> an announcement related to decentralized finance.\u00a0<\/p>\n<p>At the end of August, Eric Trump announced the official launch of the DeFi project World Liberty Financial.\u00a0<\/p>\n<p><script async src=\"https:\/\/telegram.org\/js\/telegram-widget.js?22\" data-telegram-post=\"forklog\/39361\" data-width=\"100%\"><\/script><\/p>\n<p>In early September, the media received a draft version of the project&#8217;s white paper, which mentioned the allocation of 70% of tokens to insiders. It also noted that the project is focused on lending and built on the Ethereum blockchain using the Aave platform.<\/p>\n<p>On September 12, Donald Trump announced that the official presentation of World Liberty Financial would take place on September 16.<\/p>\n<p><script async src=\"https:\/\/telegram.org\/js\/telegram-widget.js?22\" data-telegram-post=\"forklog\/39654\" data-width=\"100%\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We embrace the future with cryptocurrencies and leave behind slow and outdated big banks,&#8221; claimed the former US President in a published video.\u00a0<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">Political Divide<\/h2>\n<p>Trump&#8217;s crypto project launch could deepen political divides in Washington and hinder legislative efforts, <a href=\"https:\/\/www.theblock.co\/post\/316706\/world-liberty-financial-crypto-project-could-deepen-political-divides-if-trump-wins-presidential-election-td-cowen\">according to<\/a> analysts at TD Cowen bank.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;This is because Democrats, for political reasons, will not want to support any bill that is seen as enriching the Trump family,&#8221; noted analyst Jaret Seiberg.\u00a0<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">SEC Issues<\/h2>\n<p>During his speech, Trump emphasized that American cryptocurrency developers under investigation by the <span data-descr=\"US Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> &#8220;will live in hell&#8221; if he is not elected US President in November. <\/p>\n<p>In September, it was reported that the Commission&#8217;s enforcement actions against crypto startups reached a record $4.7 billion.<\/p>\n<p>Back in August, Trump <a href=\"https:\/\/forklog.com\/en\/news\/trump-vows-to-make-america-the-crypto-capital-of-the-world\">announced a plan<\/a> aimed at helping strengthen the country&#8217;s leadership in the cryptocurrency sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Trump family officially launched their cryptocurrency project, World Liberty Financial, during a live broadcast on the X platform, announcing the upcoming WLFI token sale. The project had been mentioned over the past two months. Join me live from Mar-A-Lago at 8:00PM Eastern, tonight on X Spaces. Set a reminder and be sure to tune [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17019,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[991,1150,1378],"class_list":["post-17020","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-donald-trump","tag-news-plus","tag-token-sales"],"aioseo_notices":[],"amp_enabled":true,"views":"76","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/17020","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=17020"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/17020\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/17019"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=17020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=17020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=17020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}