Trump’s Crypto Project World Liberty Financial Will Have Its Own Token

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Tanzeel Akhtar

Journalist

Tanzeel Akhtar

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Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk, Bitcoin Magazine and Bitcoin.com.

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September 16, 2024

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Donald Trump’s foray into the world of cryptocurrency is gaining traction with the announcement that his crypto project, World Liberty Financial (WLF), will launch its token.

The project’s team took to X spaces and in a livestream, Republican presidential candidate Trump made an appearance (a day after surviving a second assassination attempt on his life) to share his thoughts on crypto and NFTs.

Speaking to Farokh, the founder of the DAO-governed NFT media brand Rug Radio, Trump and the World Liberty Financial team discussed the launch of the “WLFI” token. Zak Folkman and Chase Herro who are heavily involved in Trump’s World Liberty Financial also participated in the spaces.

According to the World Liberty Financial team, the token will be regulated by the U.S. Securities and Exchange Commission (SEC), setting it apart from many other digital currencies that operate in the crypto space.

The announcement of the WLFI token is a huge move in Trump’s efforts to tap into the crypto world. The project’s commitment to working within regulatory frameworks could be an attempt to provide investors with a sense of security. There has been volatility and legal uncertainty around tokens.

Trump stressed the importance of creating a legal framework for cryptocurrencies in America so businesses can operate freely.

Trump on NFTs Considered “Cold”

When asked about his interest in the digital assets space and how it all started. Trump said NFTs were a turning point in his understanding of digital assets. Trump also gave credit to his children and friends for influencing his understanding of crypto.

“I got in very late, and NFT were considered cold. I mean, to be honest, it was a cold industry. It had its day a few years before,” said Trump. “I was surprised again at the percentage of them [NFTs] that were sold through that through that forum you could form a new currency,” adds Trump.

Donald Trump Jr., who also appeared on X, emphasized that the new crypto firm will offer opportunities for individuals unable to secure financing through traditional banks.

Trump’s Crypto Vision Faces Challenges

Some experts highlight challenges for WLF in gaining traction, as established stablecoins like USDC and USDT already have strong liquidity, community support and trust. WLF will need to offer superior features to stand out.

Trump has made cryptocurrency, especially Bitcoin, a key focus of his 2024 election campaign. He envisions the US becoming the global leader in cryptocurrency, aiming to make it the world’s “crypto capital” and Bitcoin superpower.

Kamala Harris Overtakes Donald Trump in Elections

As of mid-September 2024, Democratic nominee Kamala Harris is slightly ahead of Trump in national polling averages.

Harris currently holds a lead of about 3-4 percentage points over Trump. According to various sources, including The Hill and Newsweek, Harris is polling around 49.6%, compared to Trump’s 46.2%.

The two candidates have been neck and neck on the site in recent weeks, with Harris receiving a boost in popularity following her debate performance earlier this week.