Nikolas Sargeant
Former President and Republican presidential candidate Donald Trump has officially announced the launch date for his family's cryptocurrency venture, World Liberty Financial (WLF), set for September 18.
In a video posted on X, Trump invited supporters to join a live Twitter Spaces event on September 16 at 8 PM, stating, "We're embracing the future with crypto, and leaving the slow and outdated big banks behind."
The Trump sons, Donald Jr. and Eric, have been building anticipation for this crypto project, though its rollout faced setbacks due to scams and social media account hacks targeting Trump family members.
WLF's Grand Unveiling at Mar-A-Lago
WLF's official Telegram channel revealed that the project will be announced live from Trump's Mar-A-Lago residence. "Get ready as we unveil our plan to Make Finance Great Again," the team declared, emphasizing the event's significance.
The project aims to establish US-pegged stablecoins as the global settlement layer for the coming century. WLF has collaborated with security firms like Tokyo, Fuzzland, Peckshield, and BlockSecTeam for code review. Additionally, the venture plans to develop a decentralized financial system using Aave's non-custodial lending platform.
Challenges and Innovations Ahead for Trump's Crypto Vision
Despite the enthusiasm, experts caution that WLF faces significant challenges in gaining market share. Established stablecoins like USDC and USDT already enjoy strong liquidity, community support, and trust. To succeed, WLF will need to offer innovative features that set it apart from existing options.
Trump has positioned cryptocurrency, particularly Bitcoin, as a central component of his 2024 election campaign. His vision includes transforming the US into the world's "crypto capital" and a Bitcoin superpower. To support this ambition, Trump proposes creating a national Bitcoin stockpile, ensuring the US government retains all current and future Bitcoin assets.
