Donald Trump, a Republican presidential candidate, officially announced the launch date of his family’s long-teased crypto project, World Liberty Financial. In a video posted on his X account (formerly Twitter), Trump invited followers to join him live on Twitter Spaces at 8 p.m. on September 16 for the launch.
Trump says, “We’re embracing the future with crypto and leaving the slow and outdated big banks behind.” His family hinted at the project earlier this summer, with Donald Trump Jr. and Eric Trump teasing a big crypto announcement in August.
According to a whitepaper shared earlier this month, World Liberty Financial will reportedly be built on the Ethereum blockchain and DeFi platform Aave. The project is centered around a “credit account system,” designed to integrate decentralized finance (DeFi), focusing on stablecoins and user security.
Trump’s embrace of crypto is a shift from his previous negative stance. He even spoke at the Bitcoin 2024 conference, where he vowed to fire SEC Chair Gary Gensler and prevent the U.S. from selling its 213,000 bitcoins if he is reelected.
Security is a priority for World Liberty Financial. Corey Caplan, co-founder of Dolomite, was recently named an advisor for the project. Top cybersecurity firms like Zokyo, Fuzzland, and PeckShield have reviewed the project’s code to ensure user safety.
Only some people are on board with the project. Representative Maxine Waters criticized it, saying DeFi can lead to hacks, scams, and unequal access to information.
World Liberty Financial aims to reshape the future of finance through crypto, and Trump’s involvement has sparked both excitement and skepticism in the community.