Donald Trump announces launch date for World Liberty Financial

Donald Trump has set the launch date for World Liberty Financial, which will debut on September 16.

This announcement follows suggestions from his family earlier this summer, as well as Trump’s previous vague descriptions of the project as a DeFi platform for lending and borrowing.

Details of the Project

In a video posted on X, he revealed the date to his followers. Scheduled for release on September 16, Trump invited the public to join him on Twitter Spaces at 8pm that day, stating: “We are embracing the future with crypto and leaving behind the big slow and outdated banks “.

According to a recently released white paper, the project will offer users a digital wallet to store money, a credit account system, and opportunities to borrow and lend cash. In addition, users can invest in cryptocurrencies using the platform’s native tokens, and a non-transferable government currency is also planned, although details are still limited.

The platform will reportedly prioritize the use of stablecoins pegged to the US dollar in the DeFi space. In a statement, World Liberty Financial described its mission as “making crypto and America great by driving the mass adoption of stablecoins and decentralized finance.”

He explained that by distributing these stable currencies globally, he aims to maintain the dominance of the US dollar and strengthen America’s financial leadership and influence around the world.

World Liberty Financial has also mentioned a partnership with the DeFi protocol Aave, hinting that the project may be built on the Ethereum blockchain. The team confirmed that they are “working with Aave, collaborating to create a platform that sets new standards and powers all of DeFi.”

They also claimed to prioritize security, with “top security experts” reviewing the platform’s code to ensure best practices are followed.

Mixed reactions

Despite the excitement surrounding the upcoming platform, reactions have been mixed. Some supporters see it as a bold move to align the US with the future of global finance, while others are worried about the timing. With the project set to launch just 50 days before the election, critics fear it could distract from Trump’s presidential campaign.

Nic Carter, a Trump supporter and partner at Castle Island Ventures, expressed reservations, calling the move a “huge mistake.”

In an interview with Politico, Carter stated, “It seems that Trump’s inner circle is just naively taking advantage of his recent embrace of crypto. Frankly, they seem to be burning away a lot of the goodwill that has been built with the industry so far.”

The former president’s shift from skepticism to support for cryptocurrency has earned him strong support from the community, especially after he pledged to support the industry if re-elected in November.

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