Trump Doesn't Discuss World Liberty Financial, Team Reveals WLFI Crypto Token

Donald Trump refrained from discussing World Liberty Financial, his family's new cryptocurrency platform, during a recent event. However, the team later unveiled details about the project's token.

Trump's First Public Appearance Post Assassination Attempt

In a September 16 X Spaces interview with crypto influencer Farokh Sarmad, former President Trump made his first public appearance following an alleged assassination attempt on September 15. Despite promoting the livestream as a "State of Crypto address," it took him approximately 16 minutes to mention the term cryptocurrency. He said, "We're going to make our country greater than ever before, and you're going to be happy, and you're going to love your crypto." Throughout his 45-minute talk, Trump did not divulge any details about World Liberty Financial, a project that has remained largely under wraps.

WLFI Token Announcement

More than two hours into the livestream, Zak Folkman, one of the project's leaders, revealed that the platform would feature a token. Folkman, reading from a prepared statement, announced plans to sell non-transferable WLFI tokens, which he described as "pure governance tokens" that only grant the right to make proposals and vote on platform-related matters. He added that the sale of WLFI tokens to US individuals would be limited to accredited investors. Despite not considering WLFI as a security, Folkman stated that due to regulatory uncertainty surrounding tokens and token sales in the US, it would be prudent to restrict token sales to individuals eligible to participate in transactions exempt from registration under US federal securities law.

Token Distribution and Platform Details

While Folkman did not disclose the total supply of WLFI, he assured an "incredibly fair token distribution," with approximately 63% reserved for public sale. He also confirmed that there had been no pre-sales or early buy-ins with discounted allocation for venture capitalists. However, 20% of the tokens were allocated to the platform's team and advisors, with the remaining roughly 17% for user rewards. Reports indicate that World Liberty Finance will be a decentralized finance (DeFi) platform for borrowing and lending, similar to Dough Finance. The project also aims to promote "the mass adoption of stablecoins."

Trump's Changing Stance on Cryptocurrency

Trump, who once stated that cryptocurrency values are "based on thin air," has seemingly changed his stance. He has sold four non-fungible token (NFT) collections, accepted crypto for his campaign contributions, and has shown increasing support for the crypto industry, even promising to be a "crypto president."

Bottom Line

The unveiling of the WLFI token and the World Liberty Financial platform marks another significant development in the intersection of politics and cryptocurrency. Trump's shifting stance on cryptocurrency is also noteworthy. What are your thoughts on this development? Feel free to share this article with your friends and discuss. Don't forget, you can sign up for the Daily Briefing, which is delivered every day at 6 pm.