- \n
- Trump, once a crypto critic, now promotes it and teases a Bitcoin reserve, launching his DeFi project, World Liberty Financial.<\/li>\n
- Initially restricted, WLF is now open for sign-ups by accredited US investors and non-US persons.<\/li>\n
- WLF is presented as enhancing financial security via decentralised peer-to-peer asset trading, though specific details and launch date remain undisclosed.<\/li>\n
- Questions about WLF\u2019s credibility persist, with Trump potentially profiting and Chase Herro, a controversial figure, behind the project.<\/li>\n<\/ul>\n<\/div>\n
Things are moving fast for Donald Trump and crypto. He went from disliking crypto \u2013 calling it a \u201cscam against the dollar\u201d \u2013 and otherwise mainly talking negatively about it during his first term as President of the United States, to liking and promoting it<\/a>, and even teasing a Bitcoin reserve.<\/p>\n
Related:<\/strong> <\/strong>Bitcoin Dips Below $64K as US Fed Hints at 2 More Rate Cuts in 2024<\/strong><\/a><\/p>\n
And now he\u2019s ready to launch his very own decentralised finance (DeFi) project, World Liberty Financial (WLF), officially announced only two weeks ago during a Rug Radio talk<\/a> at his Mar-a-Lago resort in Florida.<\/p>\n
WLF Claims to Be for All Americans<\/h2>\n
As per posts<\/a> on social media, white-listing for the DeFi project has now opened and \u201caccredited US investors and non-US persons\u201d can now sign up to the enigmatic platform. It\u2019s yet to transpire what the actual use case will be.<\/p>\n
An accredited investor in the US is an individual or business entity permitted to trade unregistered securities by meeting specific income, net worth, asset size, governance, or professional experience criteria.<\/p>\n
Trump and his sons recently introduced World Liberty Financial<\/a> during the earlier mentioned online event, aimed at enhancing financial security and enabling free transactions.<\/p>\n
However, specific details about the platform\u2019s capabilities and a launch date have not yet been disclosed.<\/p>\n
Despite initially claiming that WLF would be for all Americans, it seems it has yet to fully fulfil that promise.\u00a0\u00a0<\/p>\n
\nWe plan for all Americans to be able to use this platform in the future, giving everyone access to the tools and opportunities that have been restricted for far too long.<\/p>\n
\n World Liberty Financial <\/p>\n<\/div>\n
Questions Remain Around WLF<\/h2>\n
It remains to be seen what purpose WLF will serve. Donald Trump, its \u201cchief crypto advocate\u201d denied that he or his family own or operate the platform, but said they potentially receive monetary compensation.<\/p>\n
Behind the project is a little-known person by the name Chase Herro. According to Bloomberg<\/a>, over a dozen \u2018digital asset investors\u2019 asked are unaware of Herro.<\/p>\n
Herro, who has sold everything from weed to get-rich-quick schemes, is relatively unknown in the crypto world, with his few projects either attracting minimal investment or failing significantly. Herro has even referred to himself as \u201cthe dirtbag of the internet\u201d and acknowledged that regulators should target people like him.<\/p>\n
![](\"https:\/\/cdn.cryptonews.com.au\/2024\/10\/01141736\/Tarun-Chitra-Robot-Ventures.jpg\")
Tarun Chitra, Robot Ventures <\/p>\n<\/div>\n![](\"https:\/\/cdn.cryptonews.com.au\/2024\/10\/01142358\/Michael-Cohen-former-Trump-lawyer.png\")
Michael Cohen, former Trump lawyer <\/p>\n<\/div><\/div>\n