The Trump Family's Secret 'White Paper' Lays Out a Plan to Make the U.S. the 'Crypto Capital of the Planet'

It's only been a few weeks since The Protocol detailed Donald Trump's family's increasingly cozy relationship with blockchain, with son Eric Trump tweeting he had "fallen in love with crypto" and former president's own words inspiring scads of mostly worthless and duplicative memecoins.

The family of former President Donald Trump is reportedly planning to make the U.S. the "crypto capital of the planet" with a new decentralized finance (DeFi) platform called World Liberty Financial.

The project, which was first teased by Trump himself on Aug. 23, is now being spearheaded by his three sons, Donald Trump Jr., Eric Trump and Barron Trump, who is listed as the project's "DeFi visionary."

According to a secret white paper for World Liberty Financial that the president's inner circle has been privately shopping around, the project will be the "only crypto DeFi platform supported by Donald J. Trump."

The platform will reportedly connect users to "decentralized finance's best tools for secure, high-yield crypto investments."

It will also feature a borrowing and lending service that is strikingly similar to Dough Finance, a recently hacked blockchain app built by four people who are now listed as World Liberty Financial team members.

"The project's figurehead is none other than the Republican presidential nominee himself, bearing the title, "Chief Crypto Advocate," with Eric and Donald Trump Jr. involved as "Web3 Ambassadors."

As if this weren't all entertaining enough, the project is reportedly aided by a cast of characters who, in other times and other contexts, might give campaign-vetters pause. They include Zachary Folkman, listed in the white paper as World Liberty Financial's head of operations, and Chase Herro, its data and strategies lead. A limited liability corporation for World Liberty Financial is registered to Folkman, who, along with Herro, is the co-creator of Subify, which bills itself as a censorship-free competitor to both Patreon and OnlyFans – both services that let customers pay content creators, with the latter skewing toward explicit content.

Folkman previously registered a company called Date Hotter Girls LLC and posted seminars on YouTube on how to pick up women. Herro has appeared as a guest on popular podcasts including YouTuber Logan Paul's podcast "Impaulsive," where he has discussed his past stints in prison for drug-related charges, and how he got rich as a "self-made businessman."

Herro, Folkman, World Liberty Financial and the Trump campaign did not respond to requests for comment.

In an epilogue: Shortly after CoinDesk reported on project's whitepaper, social-media accounts for at least two Trump family members were hacked in an apparent effort to promote a crypto scam.

On Wednesday, the team reported that the current plan calls for some 70% of project's new WLFI tokens will go to project insiders, an unusually high proportion that compares with 5%-20% in other examples.

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