Donald Trump announced his intention to launch “World Liberty Financial,” a decentralized finance (DeFi) protocol, next Monday, September 16. Through a Twitter Spaces, the tycoon detailed that the launch would take place at 8:00 p.m. ET.
The move cements a notable shift in the former president’s stance toward cryptocurrencies. He had previously shown skepticism toward them, describing Bitcoin as “highly volatile and lacking intrinsic value.”
Donald Trump’s promising DeFi protocol
In his recent post on X, Trump expressed his desire to leave behind “big, slow, outdated banks.” This suggests a more proactive approach towards Cryptocurrency adoption.
This announcement follows the launch of other crypto-related projects by his family, such as The DeFiant Ones. The latter was featured on Truth Social last month. However, details about World Liberty Financial are limited. Consequently, this raises some concerns among experts in the field.
Eric Trump, in an interview with the New York Post, revealed that the project will focus on “digital real estate.” This thus fuels speculation about the possible tokenization of real-world assets or the sale of digital assets in the Metaverse.
The idea of digital real estate can refer to the creation of virtual properties or the tokenization of physical assets. Thus, Trump’s long-awaited DeFi protocol could be part of the revolution in the way real estate investments are handled.
Project implications
World Liberty Financial’s website is currently promoting high-yield cryptocurrency investments. It also focuses on securities that are reportedly backed by members of the Trump family.
The project is already facing criticism due to reports that 70% of the token allocation would go to people close to the family. This situation raises concerns about the transparency and fairness of the project.
Eric Trump stressed that the technology behind this initiative could allow individuals who currently do not have access to traditional banking services to obtain loans almost instantly.
The latter, based on mathematical evaluations rather than banking policies. Overall, Trump’s DeFi protocol could be a disruptive change in the financial sector, where a large part of the US population is unbanked.
The World Liberty Financial protocol will be officially launched this Monday. Image: WLF
Concerns and criticisms
Despite the excitement surrounding the announcement, the project is subject to criticism. Some experts warn that the lack of clarity about how World Liberty Financial will actually work could lead to confusion and potential scams.
Recently, it became known that thousands of Trump supporters were tricked into joining a fake Telegram group. The group promised cryptocurrency giveaways linked to the project.
Nic Carter, a well-known Trump defender in the crypto community, suggests that the former president should reconsider launching his DeFi protocol. He warns that it could become an unnecessary distraction or a source of additional legal trouble.
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