Here is What to Know About the Trump Family’s New Crypto Project

For several weeks, Donald Trump and his sons have hinted at an upcoming cryptocurrency initiative, although they have yet to share many details publicly.

Behind the scenes, however, the former US president’s inner circle is quietly working on a white paper for World Liberty Financial. CoinDesk has obtained portions of this document.

The white paper, along with other reports, outlines a borrowing and lending service that closely resembles Dough Finance, a blockchain application that was recently hacked by four individuals who are now part of the World Liberty Financial team. Trump’s three sons, including 18-year-old Barron, who is described as the project’s “DeFi visionary,” are also involved, along with various financiers and e-commerce influencers.

The latest information indicates that this project will be a decentralized finance (DeFi) lending platform built on Ethereum and Aave. Additionally, the project will feature a governance token, WLFI, which will be non-transferable.

READ MORE:

Ripple Plans to Introduce Smart Contracts on XRP Ledger Next Year

Due to the transfer restrictions on WLFI, it will be challenging to speculate on the token’s price.

According to World Liberty Financial’s white paper, the project will incorporate a “credit accounting system” based on the Aave DeFi platform and Ethereum blockchain, enabling decentralized borrowing and lending.

Governance tokens like WLFI usually allow holders to take part in the governance of the project. In this case, platform users will be able to “propose and vote on the addition of new DeFi lending markets or the integration of new blockchains,” as outlined in the white paper.

The document also notes that the platform will feature “a user-friendly interface for accessing WLFI either as a ‘smart account’ or through a broker.”

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.