Former US President Donald Trump, alongside his sons and cryptocurrency entrepreneurs, unveiled a new cryptocurrency platform late Monday.
The launch of the platform, called World Liberty Financial, was marked by minimal details and focused on offering digital “tokens” that provide users with voting rights on platform decisions.
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The event proceeded despite an apparent assassination attempt on Trump at his West Palm Beach, Florida golf club the previous day.
The new platform is designed to facilitate decentralized finance (DeFi) transactions, which use blockchain technology to record transactions transparently without traditional banking intermediaries.
Users will be able to lend or borrow cryptocurrencies directly from one another, a service already available on other platforms like Aave.
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Donald Trump Jr. described the initiative as “the start of a financial revolution” during a live stream on X (formerly Twitter).
The platform plans to use stablecoins, which are pegged to traditional currencies like the dollar to mitigate volatility.
World Liberty Financial aims to democratize cryptocurrency access, with tokens granting governance rights to users.
Of the total tokens, 63% will be available to the public, 20% will go to the founding team, and the remainder will be reserved as rewards for users. A specific timeline for the project’s rollout has not been announced.
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Trump, who previously dismissed cryptocurrencies as a scam during his presidency, has now embraced them, positioning himself as a “pro-bitcoin president” if re-elected.
This stance contrasts with the Biden administration’s approach, which favors more regulatory oversight of the sector.
