Tue Sep 17 10:00:52 UTC 2024: ## Trump Family Launches Crypto Project ‘World Liberty Financial’ Amidst Controversy

**Palm Beach, FL** – Former President Donald Trump and his family have launched a new crypto project called “World Liberty Financial,” aiming to create a decentralized finance platform for borrowing, lending, and investing in cryptocurrencies. The project will feature a token called WLFI, with 20% allocated to the founding team, including the Trumps, 17% for user rewards, and 63% for public purchase.

Despite initial concerns over a leaked draft outlining a 70% founder share, the team clarified that the project will be a Reg D token offering, allowing for capital raising without immediate SEC registration under specific conditions. The launch comes amid ongoing tensions between the crypto industry and the SEC, with Trump expressing his disapproval of the agency’s approach to regulation during the event.

While Trump initially expressed skepticism towards crypto, he attributed his shift in perspective to his children’s involvement in the market and the success of his own NFT collection, which was paid for in crypto.

The launch event took place just days after an apparent assassination attempt on Trump, highlighting the high-stakes nature of the project.

Steve Witkoff, a longtime friend of Trump and a key figure in the World Liberty Financial team, emphasized the platform’s focus on accessibility and inclusivity, particularly for those struggling to access traditional financial services. He likened it to Trump Media & Technology Group, Trump’s successful venture into social media, which has boosted his net worth significantly.

The project faces scrutiny due to the Trump family’s involvement and the lack of detailed information provided. Although the Trump family will receive compensation, they do not directly own, manage, operate, or sell the platform.

The World Liberty Financial project marks a significant step in Trump’s increasingly bullish stance on crypto, echoing his campaign trail rhetoric and his participation in the Nashville Bitcoin conference. However, some industry figures express concern that the project could negatively impact Trump’s standing within the crypto community if it fails to meet expectations.

Despite the controversy, the project has garnered significant attention, further solidifying Trump’s foray into the burgeoning cryptocurrency industry.

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