Donald Trump’s Global Freedom Finance, Group Announces Token Details

Donald Trump today launched his long-rumored crypto project World Liberty Financial, a day after he survived a second assassination attempt. While not much is clear about the project, the team behind World Liberty Financial revealed previously unconfirmed details in an interview with Rugged Radio. DecryptSister company.

Unlike the wide range of existing applications in DeFi, which describes cryptocurrency products that provide financial services without the need for intermediaries such as banks, the project provides lending and borrowing services on the Ethereum blockchain network.

Trump's crypto project promises to be more “user-friendly” and accessible than the current, highly technical alternatives, and will be backed by a non-transferable (meaning, non-tradable) World Financial Freedom (WLFI) management token.

World Liberty Financial's crypto team, head of operations Zach Folkman and head of information and strategy Chase Hero, today released new details regarding the WMFI token distribution plan, and clarified that the token sale will be regulated by the US Securities and Exchange Commission (SEC).

“There were no pre-sales and no VCs, no early buys,” Folkman said during an interview today: “Like other DeFi projects you can see starting right now with an incredibly fair token distribution.” .

The majority of the token supply—62.66%—will be distributed through an upcoming token sale, with a portion of the net proceeds from that sale going to the project's multi-signature wallet treasury. Decrypt. Net proceeds from the sale will be paid to the project's founders, team and service providers.

Approximately 17.33% of WLFI's provision will be allocated to encourage participation in World Freedom Governance along with other community development initiatives, the white paper highlights.

The remaining 20% ​​of the token offering will go to the project team, consultants and future hires, while an undisclosed portion of WWFI is allocated to the WLF Foundation, Trump Organization affiliates, and longtime Trump ally The Witkoff Group. And his friend Steve Witkoff – involved in World Freedom.

CoinDesk It has already been reported According to World Freedom Reporters, they will receive 70% of the WWFI token supply – a move that was against industry norms.

A source familiar with the matter described earlier reports about World Liberty Financial as “erroneous” but would not elaborate. Decrypt It is believed to be an updated draft of the white paper, which contains similar language to previous reports but shows vastly different token classifications.

The group behind the project disclosed Monday that the sale of WWFI will be subject to SEC oversight, at least one factor in Trump's choice to launch the DFI project in deep time. Uncertainty of control For the fiction sector.

All WLFI buyers are screened using “Know Your Customer” (KYC). Levels Trusted by US crypto exchanges like Coinbase and Kraken. World Freedom White Paper taken from Decrypt He emphasized that WLFI tokens are not considered securities, as the tokens are being offered through SEC Regulation D Rule 506(c)—meaning they are securities not registered under the SEC. Being free which allows such products to be offered to accredited investors in the United States.

The SEC defines accredited investors as financially sophisticated individuals who have earned $200,000 in the past two years, who have earned $300,000 with their spouse or partner, and who have $1 million or more in net worth in the past two years. They are a spouse, or a broker or a financier.

A source familiar with the matter said that the finer details of the project are still subject to change.

Edited by Guillermo Jimenez and Andrew Hayward.