Donald Trump and His Sons Are Launching a New Cryptocurrency Project Called World Liberty Financial

Behind the scenes, though, they've been quietly circulating a white paper for World Liberty Financial. The project will include a new cryptocurrency called WLFI

Former U.S. President Donald Trump and his sons are quietly hinting at a new cryptocurrency project, with a white paper circulating behind the scenes for a platform called World Liberty Financial. This venture appears to share striking similarities with Dough Finance, a blockchain application that recently fell victim to a hack, losing an estimated $2 million in the process. Notably, four individuals previously involved with Dough Finance are also listed as team members for Trump's new project.

The project will reportedly feature a new cryptocurrency, known as WLFI, which is designed to be a non-transferable governance token. Due to its restricted transferability, this token is not intended to be easily accessible for speculators.

According to the whitepaper, World Liberty Financial aims to "highlight the power of blockchain in an accessible way." While the app is not yet fully operational, a review of a deleted codebase on GitHub suggests that early stages of the project may have involved borrowing code directly from Dough Finance.

All three of Trump's sons are said to be involved in the project, including 18-year-old Barron Trump, who is being touted as the "DeFi visionary" of the group. The venture also includes involvement from financiers and e-commerce influencers.

The company behind World Liberty Financial is a limited liability corporation that is registered to a person named Folkman, who, along with another individual named Herro, co-created Subify.

In broader crypto-related news, Trump has been actively pushing to position the United States as the global hub for cryptocurrency. He has plans to make America the leader in blockchain, stating:

"If crypto is going to define the future, I want it mined, minted, and made in the USA."

He has also been critical of the Biden administration's approach to crypto regulations, promising to dismantle what he calls a "war on crypto."

If he takes office, Trump has vowed to end the regulatory crackdown on cryptocurrencies, particularly targeting the restrictions that have been placed on banks and financial services involved in crypto transactions.

The former president also expresses strong support for Bitcoin mining in the U.S., pledging to encourage domestic mining operations as part of a strategy for American energy dominance.

Trump believes the U.S. can produce more electricity than it consumes, which would provide a solid foundation for expanding Bitcoin mining activities within the country.

He has also promised to retain all Bitcoin holdings currently owned by the government, viewing these assets as valuable tools for strengthening the economy.

Trump's campaign has reportedly raised about $25 million in crypto-related contributions, indicating that his message is resonating with a large segment of the electorate.

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