JUST IN: Donald Trump Launches New Cryptocurrency Platform 

JUST IN: Donald Trump Launches New Cryptocurrency Platform 

Former US President Donald Trump, along with his sons and entrepreneurs, recently unveiled a new cryptocurrency platform called World Liberty Financial.

Despite limited information provided during the launch event, it was mentioned that the platform would involve digital “tokens” allowing holders to participate in decision-making processes.

The project aims to leverage decentralized finance (DeFi) technology, which operates without intermediaries like banks for transactions, utilizing blockchain to secure and validate transactions.

World Liberty Financial plans to offer services for lending and borrowing cryptocurrencies, a function already common in various platforms like Aave.

The project emphasizes the use of “stablecoins,” digital assets backed by traditional currencies such as the dollar.

Notably, project leaders Zachary Folkman and Chase Herro highlighted the distribution of tokens for governance purposes, with a portion available to the public, the founding team, and as rewards for users.

Interestingly, Donald Trump Jr. sees this endeavor as signaling a “financial revolution.”

The platform’s approach aligns with Trump’s shift from previously dismissing cryptocurrencies as fraudulent to now embracing them and describing himself as a “pro-bitcoin president.”

This stance sets him apart from the Biden administration, which leans towards regulating the crypto sector.

AFP