Donald Trump’s Crypto Project: World Liberty Financial
Former U.S. President Donald Trump has announced plans to make America a “crypto capital” through his new project, World Liberty Financial. He’s promising to “Make America Great Again, this time with crypto,” and inviting people to join a whitelist. The project aims to offer decentralized finance (DeFi) as an alternative to traditional finance, with borrowing and lending services.
A Look at World LibertyFi
The project is expected to sell most of its WLFI tokens to accredited U.S. investors. While some analysts predict a boom in the token’s value, experts are raising concerns. One issue is that Chase Herro, the leader of World LibertyFi, was previously involved in a failed crypto project, Dough Financial, which suffered a $2 million exploit.
Potential Red Flags
Another major concern is the allocation of tokens. 70% of World LibertyFi’s tokens will be reserved for insiders, including Trump and his team, leaving only 30% available for public sale. This high level of insider ownership could potentially lead to price instability if insiders decide to sell their stakes. The SEC could also scrutinize the project, as tokens are often classified as securities.
It’s important to approach this project with caution, considering the potential red flags and the lack of transparency surrounding the project. Do your own research before making any decisions.
