Less than 30 days before the U.S. presidential election, former President Donald Trump’s brand new cryptocurrency venture, World Liberty Financial (WLF), has launched a whitelisting for its token sale, called WLFI, through a "Know Your Customer" (KYC) verification process on its website.
WLF appears to be pleased with the numbers. In a tweet, they said, “Our whitelist is already a massive success! Thousands of people have joined, and we’re just getting started. Don’t miss your chance to be part of something revolutionary.”
The decentralized finance (DeFi) platform, backed by Trump and run by his family, has drawn attention not just for its potential impact on the crypto market but also for its timing, aligning with Trump’s political ambitions and growing legal issues.
Restricted Access for U.S. Investors
For now, participation is limited for U.S. investors which may explain the modest uptake. Under Securities and Exchange Commission (SEC) guidelines, only accredited investors—those with a net worth of at least $1 million or an annual income of at least $200,000—can sign up. This restriction excludes many everyday Americans (including Trump's supporter base) from the early stages of the sale, limiting the platform's growth for now. In contrast, non-U.S. persons can sign up without these income requirements, indicating that World Liberty Financial wants global users.
The website explained, "In the US, this information is only intended to be available to persons who have also been verified as accredited investors. " On Telegram, the project was far more pointed in its criticism of the rules, "Due to outdated policies and regulations in the US, one whitelist is limited to accredited US investors and another for all non-US persons."
The WLF platform, built on the Ethereum blockchain, will offer decentralized borrowing and lending services. The WLFI token will give holders the power to participate in decision-making processes within the ecosystem. With 63% of the tokens allocated for public sale, the platform promises to allow investors to influence its direction.
Trump’s New Cryptocurrency Moves
During his presidency, Trump expressed skepticism about digital currencies, warning that they could undermine the U.S. dollar. However, the launch of WLF shows his opinions have definitely changed.
“I promised to Make America Great Again, this time with crypto,” Trump said in a recent statement. “@WorldLibertyFi is planning to help make America the crypto capital of the world!” His endorsement, coming just weeks before the U.S. election, has raised questions about whether this is part of a broader political strategy to engage younger, tech-savvy voters. The response from that community has so far been mixed.
The team behind World Liberty Financial includes key figures from the Trump family, with Donald Trump Jr., Eric Trump, and Barron Trump taking prominent roles. Additionally, the platform's leadership includes Chase Herro and Zachary Folkman, who previously worked together on Dough Finance, among other more dubious ventures.
Scams and Early Challenges
Despite the early momentum, World Liberty Financial has already faced significant challenges. Scam accounts have appeared on social media, with individuals impersonating the platform and even hacking Trump's own family in an attempt to defraud potential investors. WLFI has urged users to be cautious when engaging online and to verify all communications.
Looking Ahead
As WLF continues to gain attention, its success will depend on overcoming regulatory hurdles and building user trust. With Trump’s high-profile endorsement and the growing interest in DeFi, the platform hopes to make a significant impact. However, a combination of political and financial factors makes the future of WLFI uncertain, especially as the U.S. election approaches.
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