{"id":16718,"date":"2024-09-05T16:00:43","date_gmt":"2024-09-05T13:00:43","guid":{"rendered":"https:\/\/forklog.com\/en\/trump-linked-world-liberty-financial-team-to-receive-70-of-tokens-reports-say\/"},"modified":"2024-09-05T16:00:43","modified_gmt":"2024-09-05T13:00:43","slug":"trump-linked-world-liberty-financial-team-to-receive-70-of-tokens-reports-say","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/trump-linked-world-liberty-financial-team-to-receive-70-of-tokens-reports-say\/","title":{"rendered":"Trump-Linked World Liberty Financial Team to Receive 70% of Tokens, Reports Say"},"content":{"rendered":"<p>Insiders at World Liberty Financial, a project associated with the Trump family, are set to receive 70% of WLFI tokens, according to a draft white paper. This is a significant allocation for a project that aims to address the issues of &#8220;dishonest&#8221; <span data-descr=\"traditional finance\" class=\"old_tooltip\">TradFi<\/span>, reports <a href=\"https:\/\/www.coindesk.com\/business\/2024\/09\/04\/in-trump-backed-crypto-project-insiders-are-poised-for-unusually-big-paydays\/\">CoinDesk<\/a>.<\/p>\n<p>The document indicates that the founders, team, and service providers will also share in the profits from the public sale of the remaining 30% of governance tokens. A portion will be retained in the treasury &#8220;to support operations.&#8221;<\/p>\n<p>Journalists have questioned whether such high parameters are an attempt to capitalize on the Trump family&#8217;s notoriety rather than the announced creation of a DeFi platform. The latter <a href=\"https:\/\/u1f987.com\/en\/news\/donald-trump-jr-unveils-platform-aiming-to-challenge-banks\">aims<\/a> to solve the problem of access to financial services, taking on &#8220;a large part of the banking world.&#8221;<\/p>\n<p>According to a source close to the project, World Liberty Financial has not yet finalized its tokenomics. The final version of the document will be distributed through official accounts on X and Telegram, the source added.<\/p>\n<p>World Liberty Financial will focus on lending and will be built on the Ethereum blockchain and the Aave platform.<\/p>\n<p>Previously, the publication noted a &#8220;striking&#8221; similarity with Dough Finance. The DeFi application <a href=\"https:\/\/u1f987.com\/en\/news\/certik-reports-278-8-million-loss-in-cryptocurrency-incidents-for-july\">lost<\/a> $3.1 million in July due to a flash loan attack.<\/p>\n<p>The nominal head of World Liberty Financial is Donald Trump, referred to as the &#8220;chief crypto advocate.&#8221; Other participants include all three sons of the former president\u2014Donald Trump Jr., Eric, and Barron\u2014as &#8220;Web3 ambassadors.&#8221;<\/p>\n<p>The leadership also includes long-time friend of the politician, developer Steve Witkoff (overseeing institutional investments), his son Zach Witkoff (intelligence), and Alex Golubitsky as legal counsel.<\/p>\n<p>The publication suggests that Donald Trump is counting on World Liberty Financial to bolster his position in the blockchain industry.<\/p>\n<p>Some supporters of the former president have warned that the plan could backfire, journalists noted.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">is there something that we, as crypto twitter, can collectively do to stop the launch of world liberty coin? i think it genuinely damages trump&#8217;s electoral prospects, especially if it gets hacked (it&#8217;ll be the juiciest DeFi target ever and it&#8217;s forked from a protocol that itself\u2026<\/p>\n<p>\u2014 nic carter (@nic__carter) <a href=\"https:\/\/twitter.com\/nic__carter\/status\/1831145983847137451?ref_src=twsrc%5Etfw\">September 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Is there something we can collectively do to stop the launch of World Liberty Coin? I think it genuinely damages Trump&#8217;s electoral prospects, especially if it gets hacked. At best, it&#8217;s an unnecessary distraction; at worst, a huge embarrassment and a source of (additional) legal issues,&#8221;<\/em> noted Coin Metrics co-founder Nic Carter.<\/p>\n<\/blockquote>\n<p>Earlier, the accounts of the former head of state&#8217;s daughter-in-law and daughter on X were hacked to promote an asset allegedly linked to the protocol. This occurred hours after information about World Liberty Financial was disclosed.<\/p>\n<p>Back in August, Donald Trump also <a href=\"https:\/\/u1f987.com\/en\/news\/trump-vows-to-make-america-the-crypto-capital-of-the-world\">promised<\/a> to make the US the &#8220;crypto capital of the world&#8221; if he wins the presidential election, tagging the project in the message.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Insiders at World Liberty Financial, a project associated with the Trump family, are set to receive 70% of WLFI tokens, according to a draft white paper. This is a significant allocation for a project that aims to address the issues of &#8220;dishonest&#8221; TradFi, reports CoinDesk. The document indicates that the founders, team, and service providers [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16717,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1093,991,842],"class_list":["post-16718","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-defi","tag-donald-trump","tag-politics"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/16718","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=16718"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/16718\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/16717"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=16718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=16718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=16718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}