Donald Trump Launches Crypto Platform World Liberty Financial, Backed by His Sons

Donald Trump Launches Crypto Platform World Liberty Financial, Backed by His Sons

On September 16, Donald Trump introduced a new cryptocurrency platform, World Liberty Financial (WLF), during a live event on X Spaces. The platform, promoted as a means to enhance financial security and simplify transactions, is spearheaded by Trump and his sons, Eric and Donald Jr.

Despite the high-profile backing, the white paper for World Liberty Financial clarifies that the platform is “not owned, managed, operated, or sold” by the Trump family, though they may receive compensation from the venture.

During the announcement, Trump emphasized the need for the U.S. to stay competitive in the global crypto market, stating, “China is doing it anyway. But if we don’t do it, we’re not going to be the biggest, and we have to be the biggest and the best.” The former president has made digital assets a key part of his campaign strategy ahead of the November election, pledging to make the U.S. the "crypto capital of the planet."

The Trump family has yet to provide detailed information about the financing or specific objectives of World Liberty Financial. However, Eric and Donald Jr. have actively promoted the project, suggesting it will significantly impact the digital asset finance industry.

According to a white paper reviewed by Bloomberg News, Donald Trump is designated as the "chief crypto advocate," Eric and Donald Jr. are labeled as "Web3 Ambassadors," and 18-year-old Barron Trump holds the title of "chief DeFi visionary."