Trump launches World Liberty Financial in X Spaces, draws criticism for lack of substance

Just one day after surviving a second assassination attempt, Donald Trump officially launched his long-awaited cryptocurrency project, World Liberty Financial (WLF), via a live X Space event.

However, the release has received criticism from the crypto community for its lack of substantial information about the project.

Community reaction

In a recent video posted on X, Trump revealed the launch date of World Liberty Financial, urging the public to join him for a space on the day.

After the event, Fox reporter Eleanor Terrett noted that many participants were “disappointed” and that it did not provide “any substantial information about the platform.”

Several X users agreed with this, including one who commented: “I just logged out after over an hour of listening. All I know is that it’s a DeFi platform.” Another participant said there were no details on the platform, adding that Trump and his team left the discussion just before covering tokenomics.

Crypto entrepreneur Wayne Vaughan said: “We’re over two hours into this Trump crypto call and they still haven’t talked about what the platform is doing. The number of listeners is down from 150,000 to 47,000. What an opportunity lost!”

Overall, the general sentiment in the community was one of disappointment, with some members describing it as “a long winded sales pitch” and a “BTC mockery”.

WLF team clears up token allocation concerns

Despite the criticism, the project team revealed some details in a separate interview with Rug Radio. According to them, WLF aims to provide lending and lending services for cryptocurrencies on the Ethereum blockchain, similar to existing decentralized finance (DeFi) platforms.

They also claimed that it would be easier to use than current options and that it would use a non-transferable government token, the WLFI. Additionally, the team indicated that the token sale will be regulated by the US Securities and Exchange Commission (SEC).

Zak Folkman, head of operations, and Chase Herro, head of data and strategy, announced that “there have been no pre-sales and no VC, pre-buys”, stressing that the token distribution would be “incredibly fair”.

This follows earlier allegations that 70% of WLFI will be allocated to insiders such as founders, team members and service providers.

Zak clarified this by stating that most of the token supply, 62.66%, will go towards an upcoming token sale. Proceeds from the sale will fund the project’s cash reserve and will be used to compensate founders and service providers.

Another 17.33% of tokens will be allocated to governance and community growth initiatives. The remaining 20% ​​will be split between the project’s team, advisers and affiliates, including the Trump Organization and the Witkoff Group, led by their ally Steve Witkoff.

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