Former U.S. President Donald Trump, along with his sons and key entrepreneurs, launched a new cryptocurrency platform on Monday, though details remain scarce. The two-hour virtual event introduced the Trump family’s venture into the digital currency space, offering digital “tokens” that allow users to vote on platform decisions.
The announcement came just a day after an alleged assassination attempt against Trump at his West Palm Beach golf club. Despite the unsettling incident, the launch proceeded as planned.
Named World Liberty Financial, the platform aims to provide decentralized financial services, a system where intermediaries such as banks are bypassed for peer-to-peer transactions. This innovative approach is built on blockchain technology, ensuring secure and transparent records of exchanges.
During the presentation streamed on X (formerly Twitter), Donald Trump Jr. labeled the platform as the beginning of a “financial revolution.” Key figures Zachary Folkman and Chase Herro, seasoned cryptocurrency entrepreneurs, shared that the platform would use primarily stablecoins, digital currencies pegged to real-world assets like the U.S. dollar to mitigate market volatility.
World Liberty Financial aims to make cryptocurrency more accessible to the public, with 63% of the governance tokens available for public purchase, 20% reserved for the founding team, and the rest offered as user rewards. However, no specific launch date was provided.
Notably, Trump’s stance on cryptocurrencies has shifted drastically. Once calling them a scam, he now positions himself as a “pro-bitcoin president” for the upcoming election, contrasting the Biden administration’s regulatory stance on the sector.
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