A crypto project called ‘World Liberty Financial’, which claims to be ‘backed’ by Donald Trump, is reportedly making profits and investing in some quality crypto projects. Today we are taking a look at this upcoming DeFi project that aims to increase the dollar’s presence in DeFi.
What is World Liberty Financial?
World Liberty Financial is a DeFi project that claims to be ‘backed’ by former U.S. President Donald Trump and members of his family including Eric Trump, Donald Trump Jr., and Barron Trump, although these claims can be disputed.
Is Trump really affiliated with World Liberty Financial?
According to the company’s terms, the project is organized by Witkoff in WC Digital Fi, LLC, which is entitled to some of World Liberty’s revenues. As a co-founder and holder of financial stakes in the company, he established this affiliation two months before the November U.S. election, with Donald Trump also listed as a financial beneficiary of WLF.
How Has WLFI Invested in Cryptocurrencies Recently?
WLFI has invested a substantial $12 million in three major cryptocurrencies: Ethereum (ETH), Chainlink (LINK), and Aave (AAVE), utilizing USD Coin (USDC) for the transactions. This aggressive investment strategy has included purchasing assets like:
Can You Buy WLFI Tokens?
To buy WLFI tokens, you must first complete a KYC process that includes providing a national ID and undergoing facial recognition. The project is not yet live on any exchanges.
Conclusion
World Liberty Financial represents a kind of gimmick that wants to tie every connection with it to Trump. It is not true that the project is investing badly, but we can’t say that it is Trump who is behind these trades.
While the project shows ambitious investment activity with substantial positions in ETH, LINK, AAVE, and other cryptocurrencies, potential investors should conduct thorough due diligence regarding the claimed political affiliations and corporate structure.
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